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London aluminium magnate charged with bribery

by CW Staff on Oct 25, 2011


The UK's SFO has charged Dahdaleh over alleged bribes to officials from the state-controlled Aluminium Bahrain.
The UK's SFO has charged Dahdaleh over alleged bribes to officials from the state-controlled Aluminium Bahrain.

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The London-based businessman at the centre of allegations of bribery linked to contracts with US aluminium company Alcoa, says he will vigourously defend charges against him.

Victor Dahdaleh was arrested by the UK’s Serious Fraud office (SFO) and charged with corruption, conspiracy to corrupt, and acquiring and transferring criminal property in connection with alleged payments of bribes to officials of state-controlled Aluminium Bahrain during 2001-05.

The SFO said some of the alleged payments “were in connection with contracts with a US company, Alcoa”, for supplies of alumina, the core ingredient in aluminium production.

In a statement published on Dahdaleh’s website, lawyers Allen & Overy said, "Mr Dahdaleh believes the investigation into his affairs was flawed and that he has done absolutely nothing wrong. He will be vigorously contesting these charges at every stage, confident in clearing his good name."

Dahdaleh is owner and chairman of Dadco and affiliated companies and the Supervisory Board of Aluminum-Oxide Stade (AOS). Dadco Group is a privately-owned investment, manufacturing and trading group. Its founding company was established in 1915. Dadco has operations and investments in Europe, North America, the Middle East, Africa and Australia.

Victor Dahdaleh holds several positions within non-profit organisations. He is a governor at LSE, a leading donor to the School, and a member of LSE’s Fundraising Campaign Committee. He is the honorary president and chairman of the Advisory Board for the Centre for the Study of Global Governance at the School. He has been active in promoting the interests of the School externally in many places and contexts around the world, including persuading various foundations to give to the School to support specific programmes.

Victor Dahdaleh is president of the Canada-United Kingdom Chamber of Commerce. He is a Board Trustee of the William J Clinton Presidential Foundation, and a trustee of the McGill University Trust, Canada. He is a Board member of the International Aluminium Institute (IAI). He is a fellow of the Duke of Edinburgh Award World Fellowship.

He has been released on bail until October 31. Alcoa said it had not been contacted by the UK authorities, and could not comment on the charges Dahdaleh faces.
 



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