Aluminum giant Alcoa and a joint venture it controls will pay $384 million to settle charges the venture paid Bahrain officials huge bribes to secure business, US authorities have announced. Majority-owned unit Alcoa World Alumina was accused of paying tens of millions of dollars in bribes via a London middleman in an arrangement made "at the request of certain members of Bahrain's royal family," the Justice Department said. Operating through a shell company, the London broker Read more [...]

Ampliar The U.S. government said Thursday that Alcoa Inc. will pay $384 million in fines and forfeitures to settle a case involving bribes paid by subsidiaries to win contracts in Bahrain. Alcoa agreed to settle the SEC's charges and a parallel criminal case announced by the Justice Department by paying the penalty. More than $110 million in payments "were made to Bahraini officials with influence over contract negotiations between Alcoa and a major Read more [...]