FCC to pay $5.5 MM in restitution following WB debarment for “fraudulent practices” in Colombia

The World Bank debarred the Spanish construction company FCC for two years for fraudulent practices and collusion in two tenders for a $487 MM World Bank-funded environmental project, designed to help the Colombian government improve water quality, reduce flood risks, and create multi-functional areas along the Bogota River. FCC Construcción will pay $5.5 million in restitution to Colombian authorities, and develop an integrity compliance program as part of the settlement.

Source: FCPA Blog