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World Bank sanctions CDM Smith

Jaclyn Jaeger | July 7, 2017

After receiving a declination with disgorgement last week from the Fraud Section of the Justice Department’s Criminal Division, CDM Smith has been sanctioned by the World Bank for failing to disclose a sub-consulting agreement for a project in Vietnam.

The World Bank said it “conditionally non-debarred” CDM Smith and its affiliates for one and a half years. Under the terms of the Negotiated Resolution Agreement (NRA), “this duration may be reduced to 15 months if, by then, CDM Smith has met its conditions for release,” the World Bank stated.

When conditionally non-debarred, a firm remains eligible to participate in Bank-financed projects—but only if it fully meets certain conditions to step up its ... To get the full story, subscribe now.