Friday 22 June 2012

Aluminium Bahrain, Alcoa Can Gather Bribe Data, U.S. Says - Bloomberg

U.S. prosecutors dropped objections to the pretrial gathering of evidence in a lawsuit by Bahrain’s state-owned aluminum producer, which claims it overpaid for raw materials because of bribes directed by Alcoa Inc. (AA)
Aluminium Bahrain BSC, known as Alba, claims that New York- based Alcoa bribed senior officials in Bahrain and caused Alba to pay almost $500 million more than it should have for alumina, the principal raw material in aluminum.
U.S. prosecutors have been investigating those allegations since 2008 to determine whether Alcoa, the largest U.S. aluminum producer, or anyone else violated the U.S. Foreign Corrupt Practices Act. Prosecutors said yesterday in a court filing that U.S. District Judge Donetta Ambrose in Pittsburgh no longer needs to halt the pretrial collection of evidence, known as discovery.

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