1. Alcoa Reaches Settlement With SEC And DOJ Over Bahraini Bribery Scandal

    Alcoa Reaches Settlement With SEC And DOJ Over Bahraini Bribery Scandal

    A bribery scandal involving an aluminum company, Middle Eastern government officials and hundreds of millions of dollars is coming to a close: aluminum producer has reached a settlement with the U.S. Securities and Exchange Commission and the Department of Justice over charges of bribing Bahraini officials, the organizations announced Thursday morning...

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    1. Alcoa's subsidiaries used a London-based consultant with connections to Bahrain's royal family as an intermediary to negotiate with government officials and funnel the illicit payments to retain Alcoa's business as a supplier to the plant.
    2. As the beneficiary of a long-running bribery scheme perpetrated by a closely controlled subsidiary, Alcoa is liable and must be held responsible.
    3. Alcoa welcomes the resolution of this legacy legal matter with the U.S. Government.
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