David VoreacosABB admitted that between 2014 and 2017, it bribed an official"to improperly influence the decisions of Eskom".
ABB agreed 2 December to pay a $315 million criminal penalty over bribes to an Eskom official as it sought control and instrumentation contracts at the company’s Kusile coal-fired plant. The firm also resolved probes by South Africa and Switzerland, and will do so in Germany. Half the penalty will go to South Africa.ABB is paying $4.3 million to Switzerland, where the firm acknowledged not taking"all necessary and reasonable" steps to prevent the bribery. On 3 December, the Securities and Exchange Commission issued an order against ABB that raised the overall cost to the company, after other credits, to $327 million, the firm said.
ABB agreed in 2020 to repay $104 million it was paid in connection with Kusile. In July, two former ABB employees and their wives were arrested in South Africa for corruption linked to $29.4 million of contracts. Such companies would seem to face a tougher stance by US prosecutors, under a policy announced in October 2021 by Deputy Attorney General Lisa Monaco.
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_Business So is this during Koko's tenure, Brian Molefe and or LynnBrown & her board? When will we know?
_Business So what is the South African companies who fronted for the corruption & bribes, who are the Directors & chairman of these companies, it seems that journalists are scared to name the SA companies, just like they also scared of certain politicians so they don't report?
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