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Prosecutor offers SNC-Lavalin to negotiate remediation deal in bridge fraud case

Reuters
·1 min read
SNC-Lavalin Group Inc., headquarters seen in Montreal

(Reuters) - SNC-Lavalin Group said on Thursday Quebec's chief prosecutor had offered to negotiate a remediation agreement with the company in a case related to alleged fraud against the Canadian government about two decades ago.

Earlier in the day, the construction company and two former executives were charged for crimes including forgery and conspiracy to commit fraud against the government, following an investigation by the Royal Canadian Mounted Police.

The probe revealed the company had paid bribes in exchange for obtaining a $128-million contract for the refurbishment of Montreal's Jacques Cartier bridge. SNC was a 50% consortium partner in the contract.

"The Company ... takes seriously these charges relating to alleged events that took place two decades ago. The Company has fully and voluntarily cooperated with the authorities," SNC said in a statement.

SNC shares closed 2.2% lower on Thursday.

(Reporting by Sanjana Shivdas in Bengaluru; Editing by Vinay Dwivedi)