Airbus SE paid $4 billion (€3.6 billion) to settle global bribery and trade charges with French, UK, and U.S. authorities Friday after an eight-year investigation triggered by a British whistleblower.… Continue Reading
The UK Serious Fraud Office has been investigating corruption allegations against Airbus subsidiary GPT on a Saudi contract overseen by the UK Military of Defense. The case has alarming similarities with the BAE-Al Yamamah case from a decade ago.… Continue Reading
The UK Serious Fraud Office filed its annual report for the year ended March 31, 2015 with the government Tuesday.
Here’s director David Green’s foreword:
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I present the Annual Report for the Serious Fraud Office for the reporting year 2014-15.… Continue Reading
Prosecutors in Munich confirmed Wednesday that Airbus is under investigation for bribery connected with border security contracts in Romania and Saudi Arabia.
Several employees of Airbus Defence and Space, formerly EADS, are the targets of the investigation.… Continue Reading
At Pinsent Masons regulatory conference in London a few weeks ago, David Green, the chief of the UK Serious Fraud Office, talked about how many known frauds happen on his turf.… Continue Reading
The Financial Times reported Friday that anti-corruption groups, (Global Witness, Transparency International and Corruption Watch) had written to the Prime Minister and the Director of the Serious Fraud Office raising concerns about the integrity of the SFO’s investigation into the sale by GPT Special Project Management, an Airbus subsidiary, of communications equipment to the Saudi National Guard.… Continue Reading
At the Cambridge Symposium on Economic Crime at Jesus College Tuesday, David Green QC, the head of the UK Serious Fraud Office, described what he called a cross section of the SFO’s current caseload.… Continue Reading
Airbus Group NV said Wednesday the UK Serious Fraud Office questioned some of its employees as part of an investigation into possible corruption at a subsidiary.
“Airbus Group understands that four former and current employees were recently interviewed — along with [Ministry of Defense] officials — as part of a wide ranging SFO investigation into subsidiary GPT,” an Airbus spokesperson said in a statement emailed to Bloomberg.… Continue Reading
German police have raided the offices of a joint venture between EADS and ThyssenKrupp during an investigation of overseas corruption.
The joint venture — Atlas Elektronik — and Rheinmetall Defence Electronics are suspected of paying bribes in Greece in connection with the sale of submarine equipment, the state prosecutor’ office in Bremen said Saturday.… Continue Reading