SNC-Lavalin Trys to Deflect Bad Publicity

SNC-Lavalin, the Quebec-based construction giant that is building the controversial Heartland and Western Alberta power lines, took out full-page newspaper ads today suggesting there will be no more financial impropriety.

RETA SNC Lavalin building photoSNC-Lavalin, AltaLink’s parent company, has been at the centre of an international corruption probe for the past 9 months, and is being sued by investors and others. The scandal-plagued company also announced today that it is suspending the $4.9 million severance package to former CEO Pierre Duhaime who was arrested last month by Quebec’s anti-corruption squad on charges of fraud in relation to SNC’s $1.3 billion Montreal superhospital contract. SNC is also looking for a new chief financial officer, and is seeking new candidates to replace some departing board members.

In the newspaper ads, the SNC Board tries to distance itself from the allegations of fraud, bribery and money-laundering associated with investigations by the Quebec anti-corruption police, RCMP, World Bank, Swiss Justice department, Bangladesh Anti-Corruption Commission, Indian government and others.

See the Globe and Mail and CJAD 800 for details of SNC’s recent ads. See this link for more on SNC’s troubles, Alberta Primetime for information on SNC-Lavalin’s contracts in Alberta, and Making Money by Making Friends for information on SNC-Lavalin’s/AltaLink’s relationship with the Alberta P.C. Party.

~ by RETA on December 13, 2012.

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