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CA Valve Company VP Pleads Guilty To Bribe

Mon, 06/18/2012 - 10:16am
The Associated Press

SANTA ANA, Calif. (AP) — Federal prosecutors say the former vice president of an Orange County valve company has pleaded guilty to bribing a Greek official to obtain contracts.

The U.S. Attorney's Office said in a statement that 59-year-old David Edmonds' plea Friday makes him the seventh former Control Components Inc. employee to admit making corrupt payments to foreign officials.

The company has admitted that from 2003 through 2007, it made corrupt payments in more than 30 countries, which netted the company approximately $46.5 million in profits.

CCI designed and manufactured valves for use in the nuclear, oil and gas and power industries.

Edmonds is due for sentencing Nov. 19. He faces up to 15 months in federal prison.

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