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Brazil: Dozens charged with subway bid-rigging

By  |  March 26, 2014

Thirty executives from 12 foreign companies have reportedly been charged with bid-rigging by Brazilian prosecutors who accuse the executives of forming an illegal cartel to manipulate the subway industry.

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    The Sao Paulo State Prosecutor’s Office said Tuesday that the executives come from a range of firms including Germany’s Siemens, Spain’s CAD, Japan’s Mitsui, and others from Canada, France and South Korea. The charges claim the individuals formed a cartel to hike subway and train system construction and upkeep costs.

    Reports say five contracts struck between 1998 and 2008 are currently under investigation. The executives charged include both foreigners and Brazilians, reports say.

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