US may dismiss Agility fraud charges
Kuwait, July 28, 2010
Kuwaiti logistics firm Agility, facing US fraud charges over military supply contracts, said the government wants to dismiss the indictment against one of its subsidiaries.
"The United States Attorney's Office in Atlanta moved to dismiss the indictment against Holdings, an Agility subsidiary," the firm said in a statement to the Dubai bourse on Wednesday.
"While the prosecutors' motives for seeking this dismissal at this time are unknown this request for dismissal comes after motions filed by Holdings to discover the government's evidence against it."
In April, Agility DGS Holdings, which is Agility's US subsidiary, pleaded not guilty to the sealed indictment.
Agility, formerly Public Warehousing Company (PWC), is in talks with US authorities over accusations it defrauded the military in the Middle East on multibillion-dollar supply contracts spanning 41 months.
Gulf state Kuwait has become a major logistics base for the American military since the US invasion of Iraq in 2003. Agility's shares were suspended from trading on the Kuwaiti bourse on Wednesday pending news clarification, the bourse said.-Reuters
More Industry, Logistics & Shipping Stories
- Carlyle sells stake in Saudi lighting firm to Philips
- Alba receives top UK honour
- Legalising timber products trading in focus
- Experts to discuss aviation issues at Abu Dhabi summit
- Gulf Marine Services makes muted London debut
- Emal to supply molten aluminium to Ducab unit
- Ducab acquires British cable firm
- Emirates SkyCargo wins top awards
- Bayer opens new coatings, adhesives lab in Dubai
- Chep Aerospace unveils new ULD mobile app
- Cargo summit calls for cut in transit times
- Dubai bus fare cheapest among top cities
- DHL Express boosts Mideast fleet
- DNV to re-certifiy Drydocks World services
- Amphibious boats make global debut in Dubai
- Qatar sets up mixed business incubator
- Non-oil sectors ‘biggest contributors to UAE economy’
- Alba educates customers on best practices
- Spinneys to set up distribution centre at Kizad
- Maritime courses draw more trainees
- Dow to showcase at Dubai coatings expo
- UAE aluminium sector backs Syria refugees
- Asry in big vessel repair milestone
- Flare, Jordan form parent company ‘Aereon’
- Drydocks delivers second MCV for US
- ASIS launches amphibious leisure boat
- Taskforce sought to develop Saudi downstream sector
- DP World launches $200m India project
- RAK 'exploring' ceramics unit stake sale
- Mideast carriers top global air freight growth