Ex-Bechtel Executive Charged With Fraud, Money Laundering
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A former senior executive of Bechtel Corp. was accused of taking kickbacks from power companies in exchange for preferential treatment on contracts with an Egyptian electricity company, according to an indictment announced today by federal prosecutors in Maryland.
Asem Elgawhary, 72, of Potomac, Maryland, received more than $5 million in kickbacks to help three companies secure more than $2 billion in contracts while helping run a joint venture between Bechtel and the Egyptian government’s electricity company, according to an eight-count indictment.