RCMP searching SNC-Lavalin headquarters

RCMP officers are conducting a search Friday at the Montreal headquarters of engineering giant SNC-Lavalin Group Inc., in a probe that appears directed at recently departed executives and at the firm’s operations in North Africa.

SNC (SNC-T38.39-1.68-4.19%) is in the midst of a scandal over $56-million in improper payments, missing cash in Libya, and the recent departures of three top executives, including Riadh Ben Aissa, who ran the firm’s operations in Libya.

SNC confirmed that police executed a search warrant Friday, saying that “the warrant relates to an investigation of certain individuals who are not or are no longer employed by the company.”

Three weeks ago, SNC released an internal probe into suspect payments totalling $56-million. The money was supposed to be paid to agents SNC hired to win contracts on two unnamed projects.

Read Full Article from Globe and Mail

- Posted: 2012-04-13 14:01:09

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