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SNC-Lavalin Group Settles Federal Charges

Infra News - Published on Mon, 24 Feb 2020

Image Source: SNC-Lavalin
SNC-Lavalin Group Inc announced that the federal charges arising from legacy activities in Libya between 2001 and 2011 have been settled. The Court of Quebec has accepted a plea of guilty from SNC-Lavalin Construction Inc to a single charge of fraud. All charges against SNC-Lavalin Group Inc and its international marketing arm, SNC-Lavalin International Inc, have been withdrawn. As part of the settlement, SNC-Lavalin Construction Inc will pay a fine in the amount of $280 million, payable in equal instalments over 5 years, and will be subject to a three-year probation order.

SNC-Lavalin Group Inc will comply with the probation order for the three-year period. Accordingly, SNC-Lavalin Group Inc. will engage an independent monitor who will provide initial and annual reports, executive summaries of which will be posted on the company’s website, and will make any changes to its compliance and ethics programs that are identified by the independent monitor and are required. SNC-Lavalin group is already subject to monitoring by Public Services and Procurement Canada and the World Bank, and has put in place a robust ethics and compliance program that meets the highest international standards.

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Posted By : Yogender Pancholi on Mon, 24 Feb 2020
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