Ex-ABB Exec Dodges FCPA Charges

By Max Stendahl (January 17, 2012, 4:41 PM EST) -- A Texas federal judge on Monday acquitted a former ABB Ltd. manager of charges that he funneled bribes to Mexican officials to win nearly $100 million in electrical equipment and services contracts, ending a four-day trial.

The ruling by U.S. District Judge Lynn N. Hughes dismissed 12 of 18 counts from an indictment alleging John Joseph O'Shea authorized corrupt payments to officials at the Comision Federal de Electricidad, a Mexican utility responsible for supplying electricity to the country outside Mexico City. Prosecutors had claimed the bribes helped ABB secure two large contracts to upgrade and maintain Mexico's electrical network system, in...

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