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ABB Bribe Scheme Nearly Collapsed Over Division of Loot, US Says

Dec. 9, 2022, 5:30 AM

A scheme by employees at Swiss industrial firm ABB Ltd. to pay bribes for contracts at South Africa’s state-owned power utility nearly fell apart in a dispute over who would share in the spoils, US court filings show.

The filings give a fresh look at corruption at Eskom Holding SOC Ltd., the power company plagued by deteriorating finances and regular blackouts. The case, by US prosecutors and regulators, also sheds light on evolving US policy toward companies like ABB that have repeatedly broken the law.

ABB agreed Dec. 2 to pay a $315 million criminal penalty over bribes to ...