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Mexico Passes Bill Against Company Corruption, El Universal Says

April 26 (Bloomberg) -- Mexico’s Senate passed a bill that would fine individuals or companies caught illegally obtaining contracts from public companies and could imprison those responsible, El Universal said.

The bill, which still needs to be signed into law by the federal government, would levy fines against companies of as much as 124 million pesos ($9.4 million) and would prohibit firms involved in corruption from receiving government contracts for as many as 10 years, the Mexico City-based newspaper said on its website today.

To contact the reporter on this story: Nacha Cattan in Mexico City at ncattan@bloomberg.net.

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net.

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