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SNC-Lavalin to plead guilty on corruption-related charge

December 18, 2019  

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SNC-Lavalin will plead guilty to a corruption-related charge, federal prosecutors announced in court Wednesday in Montreal, Que., according to CTV News.

The company was facing a criminal trial on charges related to its past business dealings with Libya.

Trading of SNC-Lavalin stock on the TSX was halted earlier Wednesday morning.

The Investment Industry Regulatory Organization of Canada (IIROC) announced the halt, but would not provide any further explanation. The official halt time was listed as 8:16 a.m.

This past weekend, former SNC-Lavalin executive Sami Bebawi was found guilty of all five charges he was facing, including fraud, corruption of foreign officials and laundering proceeds of crime.

(CTV News)