SNC-Lavalin guilty to fraud in 2001-2011 activities in Libya

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Montreal, Dec 18 (Canadian-Media): A division of SNC-Lavalin Group Inc. pleaded guilty on Wednesday of company's illegal activities in Libya 2001 and 2011 by paying tens of millions of dollars to two shell companies to reward Saadi Gadhafi, son of the late dictator Moammar Gadhafi, to secure lucrative construction projects, media reports said.

SNC-Lavalin Group/Twitter handle

A provincial court judge was recommended by the prosecution and defence that the company pay a $280-million fine over five years, and that SNC-Lavalin Construction be placed on probation for three years. 
 
The Crown is also recommending to drop five other fraud and corruption charges filed against SNC-Lavalin, SNC-Lavalin Construction, and SNC-Lavalin International.

Earlier this morning, Toronto Stock Exchange Trading halted all  SNC-Lavalin shares.