SFO
Posted inNews

How the Petrofac hearing could impact business crime

by David Stern, Barrister and Joint Head of Business Crime at 5 St Andrew’s Hill

Commentary from a barrister in the field of business crime on how the Petrofac case could impact the future direction for the handling of business crime

This case is a departure from the recent practice of the SFO’s strategy of negotiating deferred prosecution agreements (“DPAs”) with companies avoiding any criminal convictions. Since the scheme was introduced in 2014, DPAs have been considered a welcome development for corporations in that they have enabled both sides to mitigate the risks and expense of […]

Posted inProducts & Services

Petrofac to plead guilty to seven counts of bribery

by Carla Sertin

Former Petrofac employees made payments to influence the award of projects worth billions of dollars across the Middle East, the UK SFO says

Petrofac has reached a plea agreement with the UK Serious Fraud Office (SFO) and will plead guilty to seven bribery offences in relation to payments made for contracts across the Middle East. The SFO charged Petrofac with seven offences of failing to prevent bribery, as former employees who offered or made payments in relation to […]