More On

U.K. Officials Arrest Three Men on Bribery Charges

The U.K. Serious Fraud Office (SFO) said in a statement that it arrested three men this morning for allegations of bribery, money laundering and false accounting. The three unnamed men were on the Alstom SA's board of directors, and authorities say they have been investigating Alstom's employees and business practices for more than three years.

The SFO alleges Alstom gained contracts in Africa and South America because of bribes they paid overseas. The spokesman for Alstom, Stephane Farhi, denied that the men were arrested, saying that the SFO statement mischaracterizes what happened and that the three directors were only brought in for questioning. Prosecutors have also searched several homes and businesses in London, Staffordshire and a number of other towns to find possible information related to the bribery case.

To read more on this story and case, follow this link: http://www.bloomberg.com/apps/news?pid=20601127&sid=a2.vIYOodI6s

Krystal Wilson

Bio and more articles

Join the Conversation

Advertisement. Closing in 15 seconds.