Swiss company ABB’s US unit charged with conspiracy to violate anti-bribery law in Mexico

US charges ABB subsidiary for Mexico dealings

WASHINGTON — The Justice Department has charged the U.S. subsidiary of Swiss company ABB Ltd. with conspiracy to violate an anti-bribery law during a project to upgrade Mexico’s electric power network.

U.S. prosecutors allege that ABB Inc. and co-conspirators unjustly enriched themselves through secret payments to officials of a state-owned electric utility in Mexico, CFE.

According to court papers filed in Houston, the payments were made in exchange for contracts awarded to a business unit of ABB.