Search

Editors

Harry Cassin Publisher and Editor

Andy Spalding Senior Editor

Jessica Tillipman Senior Editor

Richard L. Cassin Editor at Large

Elizabeth K. Spahn Editor Emeritus 

Cody Worthington Contributing Editor

Julie DiMauro Contributing Editor

Thomas Fox Contributing Editor

Marc Alain Bohn Contributing Editor

Bill Waite Contributing Editor

Shruti J. Shah Contributing Editor

Russell A. Stamets Contributing Editor

Richard Bistrong Contributing Editor 

Eric Carlson Contributing Editor

Bill Steinman Contributing Editor

Aarti Maharaj Contributing Editor


FCPA Blog Daily News

« Job: Executive Director, E&C Head of Policy & Strategic Excellence | Main | Report: Microsoft sales practices in Hungary under investigation »
Friday
Aug242018

IDB debars American software company

An American company working on projects in Barbados for the Inter-American Development Bank was debarred for "prohibited practices."

GL Systems LLC was debarred for four years. It had been working on three IDB-financed projects in Barbodos.

The company entered into a settlement agreement with the Washington, DC-based IDB "on behalf of itself and the custom software product lines of the business formerly known as GreenLine Systems, Inc. and A-T Solutions, Inc.," the bank said.

The IDB didn't provide details about GL Systems' misconduct. On its sanctions index, the IDB shows the reason for the debarment as "corrupt, collusive and fraudulent practices."

One project GL Systems was working on was a program to modernize customs, excise, and VAT area in Barbados.

The company is ineligible for any IDB-financed contract or work until the debarment ends.

“This is the IDB’s first debarment resulting from a Negotiated Resolution Agreement, which was negotiated and entered into by the IDB’s Office of Institutional Integrity, in accordance with the IDB Group’s Sanctions Procedures,” the IDB said.

The IDB is the biggest development finance lender in Latin America and the Caribbean. It has 48 member countries, including 26 borrowers.

The debarment qualifies for cross-debarment by the World Bank, the Asian Development Bank, the European Bank for Reconstruction and Development, and the African Development Bank.

A list of all Inter-American Development Bank debarred entities and individuals is here.

____

Richard L. Cassin is the publisher and editor of the FCPA Blog.