Alstom directors arrested in SFO raids in foreign contract bribes probe March 24, 2010 three directors of French engineering group Alstom arrested by the Serious Fraud Office (SFO) on suspicion of bribery and corruption after raids on nine properties were last night released without charge. The SFO said in a statement it suspected bribes were paid in order to win contracts overseas and that this had involved associated money [...]
Three Alstom directors arrested in fraud probe March 24, 2010 THREE directors of transport and infrastructure group Alstom have been arrested in a UK corruption investigation by the Serious Fraud Office (SFO). The arrests followed a raid on the French firms offices across the UK as well as residential addresses. The SFO said in a statement it believed bribes had been paid in order to [...]
BAE deal with SFO on hold March 2, 2010 BAE Systems may yet face trial over alledged allegations of bribery and corruption following yeterday’s decision by the High Court to grant an injunction against the Serious Fraud Office (SFO). The injunction prevents the SFO from concluding its investigation into BAE Systems, Europe’s largest defence company. Last month, the firm agreed to pay fines of [...]
SFO to launch probe into Aero February 22, 2010 The Serious Fraud Office will announce today that it will launch a probe into Aero Inventory. The firm went bust in November after accounting problems related to its share price were discovered.
CITY MOVES | WHO’S SWITCHING JOBS February 11, 2010 HSBC The bank has appointed Chris Barrow as global head of sales for its recently-launched HSBC Prime Services business, targeted at hedge funds and institutional fund managers across Europe and Asia. Barrow joins from Nomura, where he was international head of sales for prime services, and has also worked as head of sales and marketing [...]
Goldsmith defends global settlement in BAE inquiry February 7, 2010 FORMER attorney general Lord Goldsmith this weekend defended the plea deal struck by arms manufacturer BAE Systems to settle inquiries into its dealings by the UK and US authorities. On Friday BAE announced it would admit to two charges and pay fines of $447m (£286m) following probes by the Department of Justice and Serious Fraud [...]
Uncertainty remains despite plea-bargain February 7, 2010 ANTI-weapons campaigners might be up in arms, but BAE investors should be relieved by the $450m (£288m) plea-bargain it has agreed with US and British authorities. Observers had thought the cost of settling the case would be much higher. When the SFO said it would pursue criminal charges back in October, the firm’s stock shed [...]
BAE Systems fined £280m over corruption charges February 5, 2010 BAE Systems is to pay a fine of $400m (£250m) after pleading guilty to a charge of conspiring to make false statements to the US government. The UK’s largest defence group has also reached agreement with the UK Serious Fraud Office (SFO) to plead guilty to breach of duty to keep accounting records. That case [...]
WHAT THE OTHER PAPERS SAY THIS MORNING February 4, 2010 FINANCIAL TIMES UNION “NOT MILES APART” FROM BA The broad outlines of a settlement in the dispute between British Airways and its cabin crew are emerging in informal talks between the two sides, the Unite union said yesterday. “We’re not miles apart,” said Steve Turner, national officer for aviation at Unite, which represents BA’s 12,000-plus [...]
Serious Fraud Office not chasing UK Madoff office February 2, 2010 THE Serious Fraud Office (SFO) yesterday confirmed it will not pursue charges against the UK arm of Bernard Madoff’s investment firm as it seeks to broaden its investigation. “Following a thorough review of all the available evidence (the SFO) has decided to take no action against either the company or its directors, there being insufficient [...]