WHAT THE OTHER PAPERS SAY THIS MORNING November 2, 2009 FINANCIAL TIMES VODAFONE’S GHANA DEAL ATTRACTS SFO INTERESTThe UK Serious Fraud Office has contacted Vodafone about its controversial deal to buy a controlling stake in Ghana’s third-largest mobile phone operator. The SFO has not launched an investigation into the deal, but is monitoring allegations of irregularity that have been made in Ghana. INDIAN SURGE BENEFITS [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 26, 2009 FINANCIAL TIMES TOSHIBA TARGETS METALS DEAL IN KAZAKHSTANJapanese companies, urged on by their government, are racing to secure supplies of rare metals and rare earth elements that are vital to many technology products.By the end of the year Toshiba aims to agree a deal with Kazatomprom, the national uranium company of Kazakhstan, to extract rare [...]
Serious Fraud Office begins probe into City trader Levene October 21, 2009 The Serious Fraud Office (SFO) has launched a formal criminal investigation into the activities of north London financier Nicholas Levene. The 45-year-old, from High Barnet, has been declared bankrupt as City clients pursue him through the courts over alleged debts of at least £200m. The Serious Fraud Office (SFO) said it has opened an inquiry [...]
BAE predicts good growth, unsure over bribery costs October 14, 2009 BAE Systems, europe’s largest defence firm, forecast “good growth” for the rest of the year yesterday, despite a slump in its sale of land vehicles.The group also added it expected trading to “benefit from any continued weakness of sterling against the US dollar.” The US accounts for around 60 per cent of BAE’s sales, and [...]
Langdale hired by fraud office in BAE investigation October 11, 2009 The Serious Fraud Office (SFO) has upped the ante in its case against defence giant BAE Systems by hiring top criminal QC Timothy Langdale to help file a corruption suit against the firm . By getting Langdale, who successfully defended Colonel Jorge Mendonca in 2003 against charges of mistreating Iraqi civilian detainees in Basra, on [...]
SFO signals move to US-style tactics October 6, 2009 WHEN the Serious Fraud Office (SFO) said last week that it intends to seek the Attorney General’s consent to prosecute BAE, this signalled a significant change in its modus operandi. It has never in the past publicised to this extent its intended actions in an ongoing investigation. In 2008, at about the same time that [...]
BAE prepared for fine October 4, 2009 DEFENCE giant BAE Systems is prepared to pay a record breaking fine over bribery allegations, sources close to the situation said yesterday, if “compelling evidence” indicates the charges against it are true. The Serious Fraud Office (SFO) said last week it wanted to prosecute Europe’s biggest defence contractor over allegations the firm used bribery and [...]
BAE VOWS TO FIGHT CRIMINAL CHARGES October 1, 2009 BAE SYSTEMS is facing corruption charges after the Serious Fraud Office (SFO) asked attorney general Baroness Scotland to prosecute the defence giant. BAE has been locked in talks with the SFO over bribery allegations, but has failed to agree on what charges it will admit to, or how much it will pay in fines. The [...]
Serious Fraud Office prepares to act on BAE Systems bribery allegations September 30, 2009 THE SERIOUS Fraud Office (SFO) is poised to bring criminal charges against BAE Systems as soon as today if the defence giant fails to accept a plea deal that would leave it with a conviction and a large fine. The SFO will call on attorney general Baroness Scotland to launch a criminal prosecution against the [...]
BAE plays down reports of 1bn fine over ongoing bribe charges September 27, 2009 BAE SYSTEMS yesterday played down reports that the Serious Fraud Office (SFO) had discussed fines of up to £1bn over an ongoing bribery charge. “BAE Systems’ view is that the interests of the company as well as all of its stakeholders, including the general public, are best served by allowing the ongoing investigations to run [...]