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News: Redflex signs settlement agreement with Chicago

pocketgpsworld.com

Redflex has agreed to settle a bribery lawsuit with the City of Chicago. In the settlement it agrees to pay $20 million to the city with $10 million payable by 31 December 2017 and the balance payable in instalments by 31 December 2023

The lawsuit follows a bribery scandal which almost saw the end of the company which operates across Asia, Europe and the Americas. Redflex CEO Michael Finn said the agreement marks the end of the company's US struggles. Meanwhile Redflex is still under investigation by authorities in it's home country, Australia.

Redflex won the bid to supply and maintain redlight cameras in Chicago in 2003 and collected more than $400 million in fines between 2003 and 2012. But an investigation by the Chicago Tribune revealed massive bribery in the awarding of the contract by City Hall and further investigations unveiled mismanagement and failed oversight.

In 2016 City Hall manager John Bills was sentenced to 10 years in prison for taking bribes and former Redflex CEO Karen Finley and consultant Martin O"Malley were both given shorter federal prison terms.

Source: redflex.com

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Posted on Thursday, February 09 @ 06:26:25 UTC by Darren Griffin


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