The Serious Fraud Office (SFO) has secured over £1.2m from Julio Faerman, a Brazilian national, implicated in systemic bribery in Brazil, who owns a £4.25m luxury apartment in West London. The SFO suspects that the property was partly purchased with the proceeds of Faerman's criminal conduct.
Following discoveries by Brazilian prosecutors that Faerman had paid bribes to win contracts from the Brazilian state oil company, Petrobras, the SFO commenced a civil recovery investigation into the UK assets purchased by him. Notably, this included securing a property freezing order against his luxury London flat. On 12 November, the SFO agreed a settlement with Faerman, whereby it was agreed that he will pay £1,198,424.78 to the SFO plus costs of £57,000.