Canadian businessman being investigated in money laundering probe

By Christine Duhaime | April 14th, 2010

Baie Comeau smelter  According to a report in the Wall Street Journal, prosecutors in the U.S. and UK are investigating the role of prominent Canadian businessman, Victor Dahdaleh as part of a bribery and money laundering investigation of Alcoa Inc. under the Foreign Corrupt Practices Act. Mr. Dahdaleh’s London premises were raided and documents seized as part of the investigation. Mr. Dahdaleh is said to be a longtime agent of Alcoa who negotiated contracts for the corporation in the Middle East. The Foreign Corrupt Practices Act prohibits U.S. corporations, or corporations with U.S. subsidiaries, or their associates, directors, officers, employees or agents from bribing foreign government officials to obtain or retain business.

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