Pursuant to Sanctions Board Decision No. 127 issued in Sanctions Case No. 594, the Sanctions Board imposes a sanction of debarment with conditional release after a minimum of six years on the company Industrial Investment Group LLC (the ¡°Respondent¡±).
This sanction is imposed on the Respondent for fraudulent practices as defined in Paragraph 1.16(a)(ii) of the World Bank¡¯s Guidelines: Procurement of Goods, Works, and Non-consulting Services under IBRD Loans and IDA Credits and Grants by World Bank Borrowers (January 2011).
Capsule Summary of Findings:
The Respondent was found liable for engaging in fraudulent practices by making various misrepresentations as a service provider that assisted in preparation of three bids on contracts under a Bank-financed project. The Respondent¡¯s misrepresentations related to bidders¡¯ intention to bid, bidders¡¯ work experience, financial information, bank guarantees, and other qualifications. The Sanctions Board found the evidence sufficient to conclude that the Respondent¡¯s staff acted knowingly. In selecting the appropriate sanction for the Respondent, the Sanctions Board took into account a number of relevant aggravating and mitigating factors. Full discussion of the facts, allegations, and the Sanctions Board¡¯s analysis can be found in the published decision.