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Alcoa to pay $384 million to settle Bahrain bribery charges
Alcoa to pay $384 million to settle Bahrain bribery charges

Global aluminum producer Alcoa Inc. will pay $384 million to settle charges that its subsidiaries paid bribes to government officials in Bahrain to maintain a source of business, the U.S. Securities and Exchange Commission said Thursday. Federal regulators charged Alcoa with violating the Foreign Corrupt Practices Act after an SEC investigation found that Alcoa paid more than $110 million to Bahraini government officials to help strike a deal with state-run Aluminium Bahrain B.S.C., one of the largest aluminum smelters in the world. “As the beneficiary of a long-running bribery scheme perpetrated by a closely controlled subsidiary, Alcoa is liable and must be held responsible,” said...

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