UPDATE 1-Bangladeshi government accuses SNC exec of bribery-report

Wed Dec 19, 2012 1:48pm EST
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* Bangladesh probe alleges bribery, Globe and Mail reports

* Probe recommends prosecuting 3 former SNC executives

* President of SNC's Candu unit leaves company

* Allegations latest in mounting company scandal

* SNC shares fall 1.1 pct on TSX

TORONTO, Dec 19 (Reuters) - A unit of SNC Lavalin Group Inc said on Wednesday that a senior executive left the company earlier this month, which was just ahead of corruption accusations by Bangladeshi authorities, according to a report in the Globe and Mail newspaper.

Bangladesh's Anti-Corruption Commission has accused Kevin Wallace, former president of SNC's Candu Energy Inc nuclear power unit, with conspiring to bribe government officials, the newspaper said, citing a commission report.

Wallace, previously a project manager at SNC overseeing mining and industry projects, resigned from the Montreal-based company in early December.

In a brief press release, Candu said on Dec. 10 that Wallace had left the company and an acting president would fill his position until the board of directors appointed a new president.   Continued...