Bribery law heralds welcome scrutiny April 27, 2010 EARLIER this month, the Bribery Act 2010 received its Royal Assent, and it is currently anticipated to be in force by the latter part of the year. The Serious Fraud Office (SFO) is on record as saying that the Act will greatly assist its efforts in combating corruption both here and overseas. Certainly, the act [...]
Calvert in battle over payback April 21, 2010 JAILED Cazenove partner Malcolm Calvert will learn his financial fate this week as lawyers prepare to battle in court over how much the convicted banker will pay back to the government for his illegal activity. The Southwark Crown Court will decide what proportion of the £103,883 in profits the Financial Services Authority (FSA) said Calvert [...]
Director jailed for bribery April 14, 2010 A FORMER senior executive of a unit of US healthcare group Johnson & Johnson was yesterday jailed for a year after helping to pay more than £4.5m in bribes to Greek doctors for their business. Robert John Dougall – when he was vice president of Leeds-based DePuy and marketing director of DePuy International, both Johnson [...]
Alstom directors arrested in SFO raids in foreign contract bribes probe March 24, 2010 three directors of French engineering group Alstom arrested by the Serious Fraud Office (SFO) on suspicion of bribery and corruption after raids on nine properties were last night released without charge. The SFO said in a statement it suspected bribes were paid in order to win contracts overseas and that this had involved associated money [...]
Three Alstom directors arrested in fraud probe March 24, 2010 THREE directors of transport and infrastructure group Alstom have been arrested in a UK corruption investigation by the Serious Fraud Office (SFO). The arrests followed a raid on the French firms offices across the UK as well as residential addresses. The SFO said in a statement it believed bribes had been paid in order to [...]
BAE deal with SFO on hold March 2, 2010 BAE Systems may yet face trial over alledged allegations of bribery and corruption following yeterday’s decision by the High Court to grant an injunction against the Serious Fraud Office (SFO). The injunction prevents the SFO from concluding its investigation into BAE Systems, Europe’s largest defence company. Last month, the firm agreed to pay fines of [...]
SFO to launch probe into Aero February 22, 2010 The Serious Fraud Office will announce today that it will launch a probe into Aero Inventory. The firm went bust in November after accounting problems related to its share price were discovered.
CITY MOVES | WHO’S SWITCHING JOBS February 11, 2010 HSBC The bank has appointed Chris Barrow as global head of sales for its recently-launched HSBC Prime Services business, targeted at hedge funds and institutional fund managers across Europe and Asia. Barrow joins from Nomura, where he was international head of sales for prime services, and has also worked as head of sales and marketing [...]
Goldsmith defends global settlement in BAE inquiry February 7, 2010 FORMER attorney general Lord Goldsmith this weekend defended the plea deal struck by arms manufacturer BAE Systems to settle inquiries into its dealings by the UK and US authorities. On Friday BAE announced it would admit to two charges and pay fines of $447m (£286m) following probes by the Department of Justice and Serious Fraud [...]
Uncertainty remains despite plea-bargain February 7, 2010 ANTI-weapons campaigners might be up in arms, but BAE investors should be relieved by the $450m (£288m) plea-bargain it has agreed with US and British authorities. Observers had thought the cost of settling the case would be much higher. When the SFO said it would pursue criminal charges back in October, the firm’s stock shed [...]