British businessman Victor Dahdaleh paid about 40 million pounds ($64 million) in bribes to the former chairman and chief executive officer of Bahrain’s state-owned aluminum producer, a prosecutor said.
Dahdaleh made corrupt payments to Bruce Hall, the former CEO of Aluminium Bahrain BSC, known as Alba, and to Sheikh Isa Bin Ali Al Khalifa, who was then chairman, to win contracts for companies he was acting for, Philip Shears, a prosecutor for the U.K. Serious Fraud Office, said today in the first day of trial in London.
Dahdaleh, a British and Canadian national who lives in London, had connections to about 15 companies that were international suppliers to Alba, Shears told jurors.
He had means “to generate funds from these contracts,” Shears said. “The rewards to Mr. Dahdaleh were enormous.”
Dahdaleh is charged with paying about $7.75 million in bribes to officials between 1998 and 2006. He faces six corruption charges, one count of conspiracy to corrupt, and one of transferring criminal property, according to court papers.
Hall has pleaded guilty to conspiring to corrupt and is coooperating with the SFO, Shears said. He will give evidence against Dahdaleh.
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