Not that anyone in the local media should be asking questions of our politicians, or anything…
From the Wall Street Journal:
U.S. and U.K. prosecutors are investigating a prominent Canadian businessman for criminal money laundering and bribery as part of a two-year investigation centering on Alcoa Inc., the metals giant, according to people familiar with the matter.
The prosecutors have unearthed new documents that they believe show the involvement of Victor Dahdaleh, a longtime agent of Alcoa who helped negotiate contracts with companies in the Middle East and elsewhere, according to the people familiar with the matter.
No charges have been filed against Mr. Dahdaleh, a Canadian citizen in his 60s who lives in London. His lawyer declined comment.
Since 2008, U.S. prosecutors have been investigating whether Pittsburgh-based Alcoa was involved in bribing government officials in the Persian Gulf state of Bahrain in exchange for business in possible violation of the 1977 U.S. Foreign Corrupt Practices Act, according to people familiar with the matter. Prosecutors are looking at Alcoa’s relationship with Aluminum Bahrain BSC, a Bahrain government-owned manufacturing company also known as Alba, these people said. Alba has one of the world’s largest aluminum smelters and bought raw materials from Alcoa.
Prosecutors now have private financial records that they believe show that from 2001 to 2005, a company controlled by Mr. Dahdaleh made several million dollars in payments to the personal bank account of a former Alba senior executive, according to the people familiar with the matter.
Speaking of corruption in the Caribbean, can anyone point me to mentions of the following case anywhere in the Guardian, Newsday or Express?
United States v. Sam P. Wallace Co., Inc. (D.P.R. 1983)131
United States v. Alfonson A. Rodriguez (D.P.R. 1983)132
NATURE OF THE BUSINESS Mechanical, electrical and civil construction by Sam P. Wallace Co.
(“Wallace Co.”), a Texas corporation and an issuer.
BUSINESS LOCATION Trinidad and Tobago.
1. Amount of the value Series of payments, totaling $1.391 million.
2. Amount of business related to the payment Not stated.
3. Intermediary None.
4. The foreign official The Chairman of the Trinidad and Tobago Racing Authority (“TTRA”), an
agency of the government of Trinidad and Tobago.
INFLUENCE TO BE OBTAINED To obtain and retain a contract from TTRA to construct the
grandstand and receiving building of the Caroni Racetrack project in Trinidad.
1. Amount of the fine Wallace Co. pled guilty to three counts under the accounting sections of
the FCPA and was fined $30,000.
2. Individuals charged and their relationship with the business Rodriguez, president of
Wallace Co., pled guilty to the single count of bribery of a foreign official under the FCPA and
received a sentence of three years’ probation and a $10,000 fine.
3. Other crimes charged Wallace Co. pled guilty to one count under the Currency and Foreign
Transactions Reporting Act and was fined $500,000. The SEC also brought actions against
Wallace Co. and Rodriguez.