Alcoa World Alumina Agrees to Plead Guilty to Foreign Bribery and Pay $223 Million in Fines and Forfeiture

Alcoa World Alumina LLC, a majority-owned and controlled global alumina sales company of Alcoa Inc., has agreed to plead guilty later today and pay $223 million in criminal fines and forfeiture to resolve charges that it paid millions of dollars in bribes through an international middleman in London to officials of the Kingdom of Bahrain, in violation of the Foreign Corrupt Practices Act (FCPA). More on the U.S. Department of Justice website. Alcoa Inc. (AA:New York)(NYSE: AA) is a Global Compact participant since 23-09-2009. The company contributed to USD 10,000 to the Global Compact Foundation in 2010.

Alcoa, Aluminium Bahrain Reach $85 Million Settlement Over Bribery Allegations

Alcoa has agreed to pay $85 million to settle allegations that the aluminum manufacturer and related companies paid millions in bribes that resulted in a Bahrain-controlled company overpaying for raw materials. Alcoa agreed to pay $85 million in cash to Aluminium Bahrain BSC, or Alba, without admitting liability. More on Law.com and on previous January 2012 blog. Alcoa is a Global Compact participant since 2009/09/23. Alcoa was a USD 10,000 contributor for the Global Compact Foundation in 2010.