The chairman of the U.S. Securities and Exchange Commission, Jay Clayton, chose a speech in September to the Economic Club of New York to argue that when it comes to enforcement of anti-corruption laws, the United States is “acting largely alone.” He cited figures to back his stance and followed up by calling on other nations to follow the U.S.… Continue Reading
The former CEO and former chief operations officer of Monaco-based Unaoil pleaded guilty in March to arranging millions in bribes to officials in at least ten countries, and a former Unaoil business development director pleaded guilty in August last year, the DOJ said Wednesday.… Continue Reading
The Serious Fraud Office’s (SFO) Corporate Co-operation Guidance has arrived in the form of a five-page document. In it, the SFO defines co-operation as “providing assistance to the SFO that goes above and beyond what the law requires” and details eleven general practices that companies should consider when preserving material and giving it to the SFO.… Continue Reading
On July 4, 2019, the UK’s fifth Deferred Prosecution Agreement was approved. The DPA is between the Serious Fraud Office and Serco Geografix Limited (SGL), a subsidiary of Serco Group PLC, and relates to fraud and false accounting offenses.… Continue Reading
The UK Serious Fraud Office fined FH Bertling Ltd £850,000 ($1 million) Monday for bribes to secure contracts in Angola.
The investigation and prosecution focused on Germany-headquartered FH Bertling’s involvement in an oil project in Angola and employees bribing a local state oil company official to secure $20 million in shipping contracts, the SFO said.
The SFO’s criminal investigation into corruption at FH Bertling began in September 2014.… Continue Reading
The former global head of sales for Petrofac International Limited pleaded guilty Wednesday to UK Bribery Act violations related to over $50 million in bribes involving projects in Iraq and Saudi Arabia.
David Lufkin, 51, a British national, pleaded guilty in a UK court to eleven counts of bribery under sections 1(1) and 1(2) of the Bribery Act 2010.
Last year marked a key transition in the UK in relation to bribery enforcement. David Green departed from the SFO in April 2018 to be replaced (on an interim basis) by his COO, Mark Thompson, and finally succeeded in the autumn by Lisa Osofsky.… Continue Reading
The UK Serious Fraud Office said three former FH Bertling Group senior executives and a ConocoPhillips employee were convicted Tuesday for their role in a bribes-for-contracts plot.… Continue Reading