On 19 July 2021, the Serious Fraud Office (SFO) received approval from Mrs Justice May for separate Deferred Prosecution Agreements (DPAs) with two UK-based companies relating to offences contrary to the Bribery Act 2010.
SFO Investigation | Rosenblatt’s Financial Crime Team
In total both companies will pay £2,510,065 under these agreements, comprising disgorgement of profits and a financial penalty.
For legal reasons the SFO are unable to name the two companies to which they have agreed these DPAs with. It is acknowledged however, that the charges relate to offences contrary to section 1 and section 7 of the Bribery Act 2010.
The period of each DPA is two years. If either company does not honour the terms of the DPA within this period the SFO can prosecute them accordingly.
Preliminary hearings on the matter took place before Mrs Justice May on 7 and 19 July 2021 at the Royal Courts of Justice. The final hearing was concluded on 19 July 2021 at the same venue, and listed as SFO v B Ltd and CD Ltd.
It is noted that both companies co-operated fully with the SFO and as dictated by their DPAs be required to continue to co-operate with the SFO in related proceedings.
Director of the SFO, Lisa Osofsky stated, “These companies either actively participated in or failed to prevent the rolling use of bribes to unfairly win contracts. The companies were registered and operated in the UK. Their bribery undermined the fundamental principles of fairness and the rule of law that we expect in this country.”
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/
(Source: SFO – SFO secures two DPAs with companies for Bribery Act offences)
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