A former executive at Bechtel Corp pleaded guilty on Thursday to accepting $5 million in kickbacks in order to manipulate the bidding process for state-run power contracts in Egypt, the U.S. Justice Department said.
Asem Elgawhary, who lives in Maryland but was a general manager at a joint venture Bechtel ran with Egypt's state-owned electricity company, accepted the kickbacks from three power companies, prosecutors said.
Elgawhary, 73, admitted he tried to hide the scheme by routing the payments to offshore bank accounts, the Justice Department said.
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