Former BEC Board Member and insurance executive Freddie Ramsey, 78, was charged today with four counts of conspiracy to commit bribery and 14 counts of bribery. He pleaded not guilty to the charges and was granted bail in the amount of $40,000. Ramsey is also a former candidate for the Free National Movement. The matter stemmed from allegations revealed by the U.S. Department of Justice in December.

The Department of Justice reported that Alstom SA agreed to pay $772 million to resolve allegations that it bribed high-ranking foreign government officials for lucrative projects. Federal prosecutors said Alstom falsified its records and paid tens of millions of dollars in bribes for help in obtaining more than $4 billion in projects in countries including Indonesia, Saudi Arabia, Egypt and The Bahamas. As part of the plea agreement, the company detailed its corrupt practices.

Ramsey returns to court on October 13.

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