Friday, April 13, 2012

RCMP raid head office of SNC-Lavalin in Montreal

The RCMP (Royal Canadian Mounted Police) carried out a raid on the offices of Canadian Engineering firm SNC-Lavalin in Montreal. The company confirmed that the RCMP had a search warrant and that the company was cooperating with the police.

The company said: 'The warrant relates to an investigation of certain individuals who are not or are no longer employed by the company.' The company itself had asked for an investigation after two top executives resigned.

Two Vice Presidents and the CEO resigned after an internal audit found 56 million in missing payments. In the background also is an alleged plot to smuggle some members of the Gadaffi family into Mexico. SNC-Lavalin had a number of lucrative contracts in Libya under the Gadaffi regime and some in the firm had connections with Gadaffi relatives.

Cynthia Vanier a Canadian consultant is in jail in Mexico arrested in an alleged plot to smuggle Gadaffi relatives into Mexico. She has been questioned by the RCMP although the police told her she was not a suspect. They are after the former executives it would seem. Vanier has complained about her treatment by Mexican authorities and the lack of any help from the Canadian government.

All this bad publicity has sent shares of the firm downward. For more see this article.

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