Former Alba Bahrain CEO Received $64 Million in Bribes From Victor Dahdaleh

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“British businessman Victor Dahdaleh paid about 40 million pounds ($64 million) in bribes to the former chairman and chief executive officer of Bahrain’s state-owned aluminum producer, a prosecutor said,” reports Bloomberg.

“Dahdaleh made corrupt payments to Bruce Hall, the former CEO of Aluminium Bahrain BSC, known as Alba, and to Sheikh Isa Bin Ali Al Khalifa, who was then chairman, to win contracts for companies he was acting for, Philip Shears, a prosecutor for the U.K. Serious Fraud Office, said today in the first day of trial in London.”

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On Monday, November 4, the day’s biggest mover was the aluminum cash price, which saw a 0.8 percent decline on the LME to $1,817 per metric ton. The 3-month price of aluminum weakened by 0.7 percent on the LME, settling at $1,862 per metric ton. The cash price of primary Indian aluminum showed little movement yesterday.

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Chinese aluminum closed mixed yesterday. The Chinese aluminum cash price declined 0.3 percent. The price of Chinese aluminum scrap saw little movement. Chinese aluminum billet held its value on Monday. The price of Chinese aluminum bar saw essentially no change for the fifth day in a row.