The inference to be made from this court order is that the crime of corruption really doesn't pay, especially for board level directors, and that individuals who get involved in (or permit existing arrangements to continue unabated) international corruption are at risk of being prosecuted in one or more jurisdictions around the world and are liable to lengthy terms of imprisonment as well as very substantial penalties and orders for disgorgement of payments… Continue Reading
What the case does show, however, whatever the outcome, is that the SFO has both the willingness and the means to prosecute very wealthy and powerful defendants, and in circumstances where there are international political interests at stake.… Continue Reading
The RICO suit....reinforces our view that...when defendants become involved in allegations of corruption they may have to face multiple sets of criminal proceedings around the world as well as civil suits and the threat of public procurement debarment in the United States and the European Union. Winning contracts by illegal means can lead to the perfect legal storm.… Continue Reading
It was widely reported, yesterday, that the Serious Fraud Office ("SFO") have arrested and charged prominent Canadian investor Victor Dahdaleh with bribing officials of a Bahrainian state-owned smelting company.… Continue Reading
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