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. … Continue Reading
Posts Tagged: Serious Fraud Office
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.
Executives at Germany-headquartered FH Bertling paid around $445,000 in bribes to win a freight forwarding contract with ConocoPhillips worth $20 million.… Continue Reading
A judge in London jailed two former top executives of a now-bankrupt oil exploration company to a combined 30 years in prison Monday.
Osman Shahenshah, 56, the former CEO of Afren plc, was sentenced to 16 years in prison.… Continue Reading
Two top executives of a now-defunct oil company were found guilty Wednesday of fraud and money laundering after a six-week trial in London.
Osman Shahenshah, the former CEO of Afren, and Shahid Ullah, the former COO, took $45 million from a secret deal they made with their company’s business partner in Africa.… Continue Reading
The UK Serious Fraud Office said Wednesday it is trying to recover assets bought with money connected to corrupt deals in Uzbekistan.
“The claim concerns a number of assets, including three UK properties, which the SFO alleges were obtained using the proceeds of corrupt deals in Uzbekistan involving Gulnara Karimova and Rustam Madumarov,” the SFO said. … Continue Reading
The English Court of Appeal’s decision in SFO v. ENRC has reset the boundaries of litigation privilege in investigations under English law.
Here’s a summary of the decision and some key practical takeaways. … Continue Reading
The UK Serious Fraud Office filed charges Friday against a third former executive of Güralp Systems Limited.
Heather Pearce, the former sales director, was charged with conspiracy to bribe a foreign official.… Continue Reading
The UK Court of Appeal on Wednesday overturned a lower court’s ruling and restored the attorney-client privilege to protect internal investigations from discovery by the Serious Fraud Office.
In a case involving London-listed Eurasian Natural Resources Corporation (ENRC), the appellate court said those who retain counsel “to investigate the circumstances of an alleged offense” shouldn’t be “denied the benefit of litigation privilege.”… Continue Reading
The Justice Department said Monday it won’t prosecute a UK engineering firm for possible FCPA and money-laundering violations.
It is refreshing that a convicted fraudster, who is already serving a custodial sentence for his original crime, has had his sentence increased due to his failure to repay millions of dollars to his victims.… Continue Reading