French engineering company Alstom is said to be close to settling a record $700m payment to the US Justice Department to settle a foreign bribery case relating to its overseas operations in countries such as Indonesia.
The fine would be the largest criminal penalty paid to the Justice Department under the Foreign Corrupt Practices Act. The previous largest fine was $450m paid by Siemens AG in 2008. According to Bloomberg, a settlement could be announced as early as next week but a decision is not yet definite. In June General Electric…
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