Like its German competitor Siemens, a French company Alstom Group is has purpotedly used a bribery system in order to buy contracts worldwide. However, politicians and the media in France have shielded the company.
In 1998, long before the corruption scandal with German electronics and engineering giant Siemens, the fax from a bank in Liechtenstein was sent to a Liechtenstein foundation Oehri Treuhand and its head Gerry Oehri. The letter from the bank asked for an explanation from Oehri as regards a few things on one of his discreet companies. It should be noted that Crofthill Consulting, a company managed by Oehri, had an account with the bank, but its mailbox and registered address was located on the British Virgin Islands. So, when the bank receives an incoming wire transfer for USD 4 million from an unknown source unknown, it gets suspicious of money laundering.
Auditors from the accounting and consulting firm KPMG, hired by the Swiss Federal Banking Commission, concluded that “the Swiss investigative authorities strongly suspect that senior officials at the Alstom Group systematically embezzled money for years and horded it in so-called ‘black funds’.”
The investigation into the case continues.
Almost a year ago, BVI Offshore Business: Grey Area discussed a bribery scandal with Siemens. It is peculiar that in its bribery scheme Siemens also used a BVI offshore company. The same as with the case with Siemens, the active role is played by Swiss offshore services and banking system as well as KPMG that has participated in the investigation of both bribery cases – German Siemens bribery scandal and French competitor’s Alstom bribery scandal.