Ex-IMI California Executive Pleads Guilty in Bribery Case
Paul Cosgrove, the former head of worldwide sales at IMI Plc (IMI)’s California unit Control Components Inc., pleaded guilty to violating the U.S. Foreign Corrupt Practices Act.
Cosgrove, 65, pleaded guilty today in federal court in Santa Ana, California, to paying a bribe to a Chinese government official, the U.S. Justice Department said in a statement. He faces as long as 15 months in prison at his sentencing, according to the statement.
Cosgrove is the fourth former Control Components executive to plead guilty out of six charged in 2009 for bribing officials at state-owned companies in China, Malaysia and the United Arab Emirates to win contracts for Rancho Santa Margarita, California-based Control Components.
The company, a maker of control valves used in nuclear, oil and gas power plants, paid an $18.2 million fine in 2009 as part of a plea agreement. Control Components and IMI, based in Birmingham, England, cooperated with the investigation, the company said at the time.
Thomas Bienert Jr., Cosgrove’s lawyer, didn’t immediately return a call to his office for comment on the plea.
The case is U.S. v. Carson, 09-00077, U.S District Court, Southern District of California (Santa Ana.)
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