BUSINESS BRIEFING / COURTS
TIMES WIRE REPORTS
Control Components Inc. of Rancho Santa Margarita has pleaded guilty to paying bribes to officials at state-owned companies in China, Malaysia and the United Arab Emirates, U.S. prosecutors said.
The maker of control valves used in nuclear, oil and gas power plants pleaded guilty to violating the U.S. Foreign Corrupt Practices Act and the Travel Act, U.S. Atty. Thomas O’Brien in Los Angeles said. The company was ordered to pay an $18.2-million fine.
Control Components is a subsidiary of British firm IMI.
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