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Ackermans & van Haaren unit probed in France over Chad ‘bribery’ allegations

By Martin Coyle ( May 17, 2024, 16:01 GMT | Insight) -- A unit of Belgian construction conglomerate Ackermans & van Haaren faces a probe into suspected corruption in Chad, French prosecutors have confirmed.A unit of Belgian construction conglomerate Ackermans & van Haaren faces a probe into suspected corruption in Chad, French prosecutors have confirmed. France’s Parquet National Financier, or PNF, the agency responsible for tackling serious economic and financial crime, is examining allegations that CFE, a unit of AvH, was involved in corruption and the misuse of company assets, a judicial source said. “It is currently being analyzed by the prosecutor’s office,” the official said, following a complaint to the PNF. Media reports have alleged the company is being probed over the construction of the Grand Hôtel in N’Djamena, Chad, which was completed in 2016. It is alleged that The Republic of Chad’s government owes 60 million euros ($65 million) to the construction group. CFE has called the allegations unfounded and said it made a loss of more than 50 million euros on the project....

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