The World Bank announced it won’t be giving any more money to Lahmeyer International after the company was found guilty of bribing officials responsible for lending contracts for the Lesotho Highlands Water Project, a multi-billion dollar operation. The German engineering firm was found guilty of fraud by the government of Lesotho and fined $1.63 million. According to a press release from the World Bank, Lahmeyer will be sanctioned for seven years, though that time frame could be reduced to four years if the company meets acceptable compliance standards as set by the Bank.

As a point of reference, Lahmeyere has received over $15 million in Bank contracts over the past four years. Bank Information Center has a good recap of the story along with a handful of links to additional resources here.