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A Connecticut federal judge imposed terms set forth in a May 2022 plea agreement resolving DOJ allegations that the commodities trader manipulated oil prices.
23 September 2022
UK practitioners condemned the UK’s anti-fraud watchdog for the “basic” failures described in recent reviews of the agency and say the reports provide an urgent opportunity for learning and reflection by the SFO and the government.
28 July 2022
An independent report into the Serious Fraud Office’s handling of its investigation into Monaco oil services consultancy Unaoil has laid bare the internal errors that have led to three of the four convictions secured in the case being overturned.
21 July 2022
Anglo-Swiss commodities trader Glencore pleaded guilty at a London court to paying millions of dollars in bribes to win oil contracts across West Africa.
21 June 2022
The Swiss commodities trader admitted paying bribes throughout Africa and South America in resolutions with four agencies in the US, UK and Brazil. Corruption probes in Switzerland and the Netherlands, however, continue.
25 May 2022
Companies in the UK aren’t required to report their misconduct to the Serious Fraud Office, but a recent high court judgment concluded that a company has a moral obligation to do so, argue Herbert Smith Freehills partners Brian Spiro, Rob Hunt and senior associate Jessica Chappatte.
03 May 2022
Swiss engineering company Foster Wheeler chose not to alert law enforcement agencies despite three separate internal investigations uncovering suspected bribery in Nigeria, Saudi Arabia and Malaysia.
07 February 2022
A former top sales executive at oil services company Petrofac must disgorge £141,000 in profits from his role in several foreign bribery schemes.
15 December 2021
UK oil services company Petrofac has admitted to failing to prevent its agents and employees from paying bribes to win contracts worth billions of dollars throughout the Middle East. GIR takes a deep dive into the bribery schemes and compliance failures that led to the guilty plea.
05 October 2021
A London court has ordered oil services company Petrofac to pay £77 million after the company admitted seven counts of failing to prevent bribery between 2011 and 2017.
04 October 2021
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