Alcoa, US Reach $384M Bahrain Bribery Settlement

Law360, New York (January 9, 2014, 11:36 AM EST) -- Alcoa Inc. on Thursday agreed to pay a total of $384 million and to settle U.S. claims under the Foreign Corrupt Practices Act that one of its subsidiaries paid bribes to secure lucrative business in Bahrain.

As part of the settlement with the U.S. Department of Justice and the U.S. Securities and Exchange Commission, Alcoa unit Alcoa World Alumina LLC will enter a guilty plea to one count of violating the FCPA's anti-bribery provisions for allegedly paying a London-based middle man to funnel about $110 million...
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