Posted by Natalie Birrell (PR Consultant),
On 1 September 2016 Withy King LLP merged with Royds LLP. The trading name for the merged firm is Royds Withy King. All content produced prior to this date will remain in the name of the firms pre-merger.
Sweett Group ordered to pay £1.4m over hotel bribery case
A surveyor listed on the London Stock Exchange recently became the first firm to be sentenced for bribery over corrupt payments.
Southwark Crown Court ordered Sweett Group to pay a penalty of £1.4million, while also imposing a £851,000 confiscation order.
The company had pleaded guilty to failing to prevent the bribery of an influential Arab businessman, following an investigation by the Serious Fraud Office (SFO).
Court heard that the firm had been slow to act after irregularities were first pinpointed by auditors in 2010.
It later emerged that corrupt payments had been made to Khaled Al Badie, in order to secure work on a major hotel development in Dubai.
David Green, the SFO’s director, said the conviction sent a strong message.
“Acts of bribery by UK companies significantly damage this country’s commercial reputation,” he said.
“UK companies must take full responsibility for the actions of their employees and in their commercial activities act in accordance with the law.”
Following the sentencing, Sweett’s chief executive, Douglas McCormick, said that the company had strengthened its internal systems and could “look to the future with confidence.”
For advice on the Bribery Act and companies’ obligations under the legislation please contact Claus Andersen or visit.
Royds Import Business
Keeping you informed about Royds Import Business news, events and opinion.