The Serious Fraud Office (SFO) announced in a press release dated 22 September, that five men have been bailed to appear in court in November following their alleged involvement in corruption. It follows a two-year investigation by the SFO into allegations of corruption in relation to multi-million pound engineering contracts in the energy sector. The value of the contracts totalled £66 million.
The SFO stated that the prosecution was brought following an investigation that was conducted in conjunction with the City of London Police “into allegations that inside information was being offered to companies bidding for contracts in highvalue engineering projects. Some of the defendants were employed by the companies responsible for the procurement of these projects and are alleged to have passed confidential information to others who then offered to provide it to companies bidding for the contracts in return for a percentage of the contract value. The aggregate value of the five contracts in question is £66 million and the charges relate to periods between 1 January 2001 and 31 August 2009”.