Canadian engineering company SNC Lavalin will face questions from shareholders Thursday about a possible scandal involving payments of over $50-million to unknown agents in North Africa.
The Montreal-based company has seen its stock price plunge and some shareholders may push for the removal of the company’s Board of Directors.
Former SNC Executive Vice-President of Construction in North Africa, Riadh Ben Aissa, has already been accused of fraud and is currently in prison in Switzerland.
Company CEO, Pierre Duhaime, resigned in March while SNC’s largest shareholder Jarislowsky Fraser and the Quebec Pension Fund are both pushing for change at the top levels of the company.
There is still no word on whether the payments of $56-million went to the Gadhafi regime in Libya.
SNC Lavalin to face heat from shareholders
Mike Eppel and 680News staff
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