April 18 (Bloomberg) -- Philip Bloom, a U.S. businessman, pleaded guilty to conspiracy, bribery and money laundering in connection with a bid-rigging probe of Iraq reconstruction contracts.
The Justice Department unsealed the plea agreement today in federal court in Washington. Bloom admitted paying a former comptroller for the disbanded Coalition Provisional Authority and other officials more than $2 million in money and gifts to win $8.6 million in contracts.
Bloom faces up to 40 years in prison and a $750,000 fine. Under the terms of the plea agreement, he also must pay $3.6 million in restitution and forfeit $3.6 million in assets to the U.S., the Justice Department said.
No comments:
Post a Comment