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Former chief of PWS International admits paying $2 million Costa Rica bribes

Friday, October 22, 2010

Julian Messent, the former chief executive officer of reinsurance company PWS International, pleaded guilty in London to paying more than $2 million in bribes to win contracts in Costa Rica.

Messent admitted to two counts of corruption for funneling money to at least three Costa Rican officials to retain reinsurance contracts from a state-owned telecommunications and electricity company.

Costa Rican prosecutors are investigating 10 people for accepting bribes in the case.

Original source: Bloomberg