Were officials misled?: ABB corruption case could be expensive in the US

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A bribery story involving Swiss global company ABB is now coming to the fore again. The Swiss electrical engineering group is said to have misled investigators in a corruption case. The Swiss company apparently deliberately withheld documents and passed false information to the authorities, as “SonntagsZeitung” and “Welt am Sonntag” wrote based on unpublished documents.

ABB admitted paying bribes for the construction of a coal-fired power plant in South Africa in 2022. The company assured that it would cooperate with authorities and pay fines of more than $300 million. The newspaper further states that ABB reached an agreement with the South African, US and Swiss investigative authorities.

This abuse could cost him dearly, especially against the United States. (SDA)

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Source :Blick

Tim

I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.