(MENAFN- ProactiveInvestors)
Shares of Group () were trading 0.44 higher this afternoon as the case involving accusations of fraud and corruption filed by the Royal Canadian Mounted Police (RCMP) has been postponed for three months after the Crown said it had 1000 new documents of evidence.
's lawyer François Fontaine did not comment. In April when the trial started Fontaine reiterated that the company does not intend to plead guilty nor did he say whether was trying to negotiate with the Crown to avoid a trial.
SNC risks being banned from soliciting public contracts for 10 years should it be found guilty of corruption over the company’s activities in Libya as charged by the RCMP in the period preceding the collapse of the Qadhafi regime in 2011.
According to the RCMP the engineering firm paid $ 47.7 million for public office holders in Libya in order to influence them. In addition its divisions Construction and International Private various local organizations have approximately $ 129.8 million.
Three other individuals - former top leaders Abdallah Sami Bebawi and Stephane Roy as well as counsel for Mr. Bebawi - have already been charged by federal police as part of the investigation.
Founded in 1911 the company employs 45000 people around the world - including 16650 in Canada specializing in the infrastructure hydrocarbons and mining sectors.
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