On 18 March 2021, the Serious Fraud Office (SFO) announced that following a thorough investigation spanning 4 years it has taken the decision to close its investigation into the activities of KBR, Inc.’s UK Subsidiaries (KBR).
SFO Investigation | Rosenblatt’s Financial Crime Team
KBR Inc. is a US listed engineering, procurement and construction company. The SFO opened their investigation into KBR, their officers, employees and agents for suspected offences of bribery and corruption back in April 2017.
The SFO decided that the evidence in this case did not meet the evidential test set out in the Code for Crown Prosecutors. The SFO makes its charging decisions on the basis of this test, which specifies that the evidence must support a realistic prospect of conviction and that the prosecution must be in the public interest.
This decision was made shortly after the SFO attended the UK Supreme Court last month over whether it was wrong to try and compel foreign businesses to hand over documents held overseas. The judges ruled that the SFO had no extraterritorial reach, although they did confirm that the SFO has the power to compel UK companies to repatriate documents held overseas. The agency denied that this ruling had any bearing on their decision to close this investigation.
The closure of this case is the latest in a string of major investigations pulled under SFO head Lisa Osofsky. Inquiries into British American Tobacco, aero engine maker Rolls-Royce and drugs company GlaxoSmithKline have all been dropped over the past two years.
Rosenblatt can help
Rosenblatt has a wealth of experience in financial crime and is uniquely placed to support clients that are the subject of a Serious Fraud Office investigation and prosecution having being involved in high profile investigations into a global pharmaceuticals company, a multi-million pound affordable property investment scheme, a multi-million pound pension fraud scheme and a world leading global security company.
https://www.rosenblatt-law.co.uk/services/financial-crime/#financial-crime
