(October 28, 2002) Lesotho High Court has fined Acres International US$2.25 million (22,580,091 maloti) for bribing the former head of a multibillion-dollar dam project to secure contracts.
Canadian firm fined R22m in Lesotho
(October 28, 2002) Acres International, was fined R22.5-million in the Lesotho High Court today for bribery linked to the Lesotho Highlands Water Project that supplies water to South Africa.
Acres International to appeal Lesotho court sentence
(October 28, 2002) Acres International said that it was disturbed and dismayed by the Lesotho trial judge’s sentence as it was by his earlier unjustified decision. Acres said it would continue its preparation to appeal the decision and the sentence.
Acres fined US$2.25M in water bribery case
(October 28, 2002) The court wants to send a clear message that companies wanting contracts should not even think of taking a risk in trying to bribe officials, said Judge Mahapela Lehohla before imposing the fine. Engineering firm will appeal verdict, sentencing.
Acres faces fine for bribe to CEO
(October 28, 2002) Engineering company maintains innocence, plans to appeal Lesotho verdict.
Acres vows appeal
(October 28, 2002) Acres International Ltd. said Monday it was "disturbed and dismayed" by a $2.2-million (U.S.) fine levelled by a Lesotho trial judge following a bribery conviction in a major African water project and vowed to appeal both the court’s verdict and sentence.
Lesotho Highlands: More scandal
(October 12, 2002) A Lesotho prosecutor asked the Lesotho High Court on Friday to impose the maximum fine on Canadian engineering company Acres International, which was found guilty of bribery.
Bribery case could cost Acres plenty
(October 12, 2002) Oakville-based engineering firm Acres International Ltd. may face a fine of up to $4 million after being convicted of bribery by a foreign government.
Press Update: Lesotho corruption trial sentencing
(October 11, 2002) Arguments were heard this week in Lesotho’s High Court during the sentencing trial of Acres International.
PRESS RELEASE: Canadian multinational convicted in Africa: Judgment in corruption trial handed down
(October 9, 2002) The Judgment in Rex v Acres International, the first in the world’s most important international corruption trials, was handed down today in the tiny south African Kingdom of Lesotho. The written decision is now available on-line.
Abacha Loot Deal: A Global Shame
(October 1, 2002) The incidence of looting public money and stashing it in western financial institutions is a global problem and developing/developed countries as well as international organizations are at loss on how to stem or control the phenomenon.
Corruption corrodes Development Banks
(October 1, 2002) Scandal rages around alleged bribery in Lesotho, where the World Bank is financing Africa’s largest water project.
Canadian engineering multinational to be sentenced today in world’s largest corruption case
(October 1, 2002) Canadian engineering multinational Acres International is expected to be sentenced today in Lesotho’s High Court.
Canadian Acres caught in Lesotho bribing scandal
(October 1, 2002) In an unprecedented case, a Canadian engineering company has suffered the humiliation of being the first multinational to be fined for bribing its way into a World Bank-funded dam project in the small mountain kingdom of Lesotho.
Giant Congo hydroelectric project is a ‘betrayal’
(September 30, 2002) The heart of darkness could soon be lighting up Africa. There are plans to build the world’s largest hydroelectric project on the Congo river and connect it to a continent-wide electricity grid.
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