With the Serious Fraud Office’s (SFO) conviction rate at a threeyear low last year, there has been a series of high-profile fines for corporate wrong doing this year. The latest “big business” victory for the SFO has been the £15 million fine against Alstom Network UK, which brings a decade-long investigation to close.
The Alstom case concerned allegations of bribes paid to a consultancy to secure a Tunisian tram contract worth over €79m. Alstom had falsified evidence that the consultancy was provide them with a service when in fact it was just a front for a company controlled by the brother-in-law of Tunisia’s ousted President. It was convicted of conspiracy to corrupt in April 2018.
The SFO launched a wide-ranging investigation into the group and has since secured convictions against three of the company’s executives and the company itself over separate bribes relating to a power plant in Lithuania.Click here to read more