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NEWS May 6, 2020

Issuance of Sanctions Board Decision No. 127

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