France's Alstom to pay U.S. a record $772 million for foreign bribery

The Justice Department on Monday announced that a French power and transportation company had agreed to pay the largest criminal fine ever under a U.S. law that prohibits bribery of foreign officials. Alstom, which is about to sell most of its power business to General Electric Co., has agreed to pay $772 million and admit that it paid bribes to officials in Indonesia, Saudi Arabia, Egypt, Taiwan and the Bahamas, according to Deputy Atty. Gen. James M. Cole. Alstom pleaded guilty Monday in U.S. District Court in Connecticut to two charges of violating the Foreign Corrupt Practices Act, the Justice Department said. The settlement also involved two U.S. subsidiaries, Alstom Power...