Saturday, September 23, 2023
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Alcoa Accused of Bribery in Bahrain

PITTSBURGH (CN) - In a $1 billion action against Alcoa World Alumina,the principal Bahraini aluminum smelter says Alcoa bribed Bahrain government officials and the company's top officersin order toextract "hundreds of millions of dollars in overpayments."

Plaintiff Aluminum Bahrain, also known as Alba, is one of the largest aluminum smelters in the world. It is also suingAlcoa World Alumina's Vice President of Marketing William Rice, and its agent Victor Dahdaleh, a Canadian citizen who lives in London.

The complaint states: "Defendants are involved in the supply of alumina to Plaintiff. Through their conspiracy, Defendants bribed one or more former senior officials of Plaintiff and the Government of Bahrain to induce Plaintiff to cede a controlling interest in that company to Defendant Alcoa and to overpay for alumina. The bribes were sent through a series of shell companies that Defendants ultimately controlled. Defendants' conspiracy succeeded in exacting hundreds of millions of dollars in overpayments, which continue to accumulate to this day. Among other things, Plaintiff seeks damages in excess of $1 billion including punitive damages, for this massive, outrageous fraud."

Plaintiff is represented by Buchanan Ingersoll & Rooney of Pittsburgh and Akin Gump Strauss Hauer & Feld of Washington, D.C.

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