SNC-Lavalin paid $22M to offshore company to get Algeria contracts

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Montreal-based SNC-Lavalin paid a secret Caribbean-registered company to intercede on its behalf to obtain hundreds of millions of dollars in business in Algeria, the Panama Papers show, in a similar pattern to how the engineering giant operated in Libya, for which it is facing charges of paying bribes and committing fraud.  SNC landed at least $4 billion in contracts in Algeria during a prosperous decade for the company in North Africa. The Panama Papers reveal a number of those deals were obtained through the services of a shadowy firm called Cadber Investments SA registered in the British Virgin Islands.

SNC itself and its international and construction subsidiaries each face one charge of corruption and one count of fraud in Canada related to the companies’ business in Libya between 2001 and 2011.

Read the full article at CBC News.