07:53:56 EDT Tue 14 May 2024
Enter Symbol
or Name
USA
CA



SNC-Lavalin Group Inc
Symbol ATRL
Shares Issued 175,509,547
Close 2024-04-24 C$ 55.81
Market Cap C$ 9,795,187,818
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Globe/CP say SNC ex Morin sentenced to 3.5 years jail

2024-04-25 08:23 ET - In the News

The Globe and Mail reports in its Thursday edition that a former SNC-Lavalin executive has been sentenced to 3-1/2 years in prison in connection with a bribery scheme for a bridge-repair contract in Montreal. A Canadian Press dispatch to The Globe says that Normand Morin, once a high-ranking vice-president at the engineering company, received the sentence Tuesday after his conviction for corruption and fraud last month. A police investigation revealed that SNC-Lavalin executives paid bribes of $2.3-million in order to secure a $128-million contract to repair the Jacques Cartier Bridge deck in the early 2000s. In 2017, Michel Fournier, former chief executive officer of Federal Bridge Corp., admitted to receiving the bribes through Swiss bank accounts between 1997 and 2004. He was sentenced to 5-1/2 years in prison and has since received full parole. Ex-SNC vice-president Kamal Francis was also hit with forgery and fraud charges in 2021. Court proceedings are continuing. SNC, which is changing its name to AtkinsRéalis, agreed in 2022 to pay Quebec nearly $30-million over three years to settle criminal bribery charges stemming from work on the bridge that spans the St. Lawrence River between Montreal and Longueuil, Que.

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