Alcoa Pays $384 Million to Resolve Bahrain-Bribery Probe
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Alcoa Inc., the largest U.S. aluminum producer, agreed to pay $384 million to resolve U.S. criminal and civil probes, after a unit admitted paying tens of millions of dollars in bribes to members of Bahrain’s royal family and officials at a state-owned company to win business.
Alcoa World Alumina LLC, a majority-owned unit that supplies the raw material used by smelters to make aluminum, pleaded guilty yesterday in federal court in Pittsburgh to violating the Foreign Corrupt Practices Act.