U.S. slams $778 million fine on Lafarge for providing support to terrorist groups
The U.S. Justice Department has fined French cement giant Lafarge SA $778 million for supporting terrorist groups in Syria during the civil war.
The company was penalised after admitting to paying ISIS and other terrorist organisations to keep a cement plant running in Syria during the civil war.
Lafarge and its parent company Holcim Group announced the development in a statement on Tuesday, stating that they had decided to enter a guilty plea and pay the fine.
“have agreed to plead guilty to one count of conspiring to provide material support to designated foreign terrorist organizations in Syria from August 2013 to October 2014,” a statement by Lafarge SA read.
In order to operate a cement plant in Syria from 2013 to 2014, Lafarge S.A., with headquarters in Paris, France, arranged to pay the terrorist organisation ISIS and ANF, allowing LCS to earn about $70.3 million in revenue.
Lafarge pleaded guilty and was sentenced at a hearing in U.S. District Court in Brooklyn, New York, after an indictment charging it with one count of conspiring to provide material support to a designated foreign terrorist organisation.
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