SFO Investigations

Weavering Capital (UK) Ltd went into administration in March 2009. The company was advisor to a Cayman Islands incorporated hedge fund called Weavering Macro Fixed Income Fund Ltd which is understood had funds of US$639 million under management in 2008. The investigation is looking at interest rate swap transactions between the fund and a related Weavering company in the British Virgin Islands which had the effect of inflating the net asset value of the fund.

The case was dropped by the SFO in September 2011, with the SFO stating " After full and detailed consideration of the evidence gathered during the investigation, which opened in April 2009, [the SFO] have determined that there is not a reasonable prospect of conviction in the Crown Court."

The case was re-opened in July 2012 following a review of the High Court civil judgment by Mrs Justice Proudman on 30 May 2012. The founding director of Weavering, Magnus Peterson was charged with offences contrary to s.17(b) Theft Act 1968, s.458 Companies Act 1985, s.4 Fraud Act 2006, s.1 Forgery and Counterfeiting Act 1981 on 14 December 2012.

The first crown court hearing took pace on 7 May 2013 at Southwark. A provisional trial date was set for October 2014.

Sources: SFO case update; SFO press release

The SFO has confirmed it is investigating allegations of fraud, bribery and corruption relating to the activities of the company or its subsidiaries in Kazakhstan and Africa. Source: SFO case update

Bruce Hall appeared before Westminster Magistrates' Court (15 Feb 2011). He was charged with corruption offences, under s.1 Criminal Law Act 1977 and s.1 Prevention of Corruption Act 1906, relating to contracts for the supply of goods and services to Aluminium Bahrain ("Alba"). He is alleged to have received bribes whilst an employee of Alba. Mr Hall has been released on bail and Mr Hall and Mr Dahdaleh appeared together at Southwark Crown Court on 16 April 2012, where the case was adjourned until 25 May with a provisional date scheduled for 23 April 2013 - this was an application to vary bail conditions. Source: FFW e-alerter

Dennis Kerrison(Innospec)

Former chief executive of the Innospec business, Dennis Kerrison appeared with Paul Jennings before Westminster Magistrates’ Court on 27 October 2011 on charges surrounding alleged corrupt payments to gain public contracts in Indonesia. The case was sent to the Crown Court at Southwark and both defendants appeared on 17 January 2012. Plea and case management hearings took place on 4 April and 11 June 2012. Mr Kerrison pleaded not guilty at the second hearing and the trial began in Southwark Crown Court in early 2013. Source: SFO press release

Miltiades ("Miltos") Papachristos (Innospec)

Miltos Papachristos, former regional sales director of Innospec, was charged with corruption relating to contracts for Tetraethyl lead in Indonesia, after appearing at Westminster Magistrates' Court on 10 February. He was charged with one count of conspiracy to corrupt, in that he gave or agreed to give corrupt payments to public officials. The case has been sent to Southwark Crown Court, where he appeared on 4 April and 11 June for plea and case management. Mr Papachristos pleaded not guilty at the second hearing and the trial began at Southwark Crown Court in early 2013. Source: SFO press release

The SFO, with Essex police, is investigating complaints in relation to the Harlequin group, in particular on property developments in resorts in the Caribbean. The SFO are seeking information from those who have invested in the schemes.

On 23 April, it was reported that Harlequin had filed for administration citing "unfounded negative publicity".

Rolls Royce may become subject to an investigation by the SFO over bribery and corruption overseas. The SFO approached the company in early 2012 looking for more information on allegations of malpractice in Indonesia and China. The company appointed lawyers to investigate and the results were passed to the SFO. The company may also be subject to investigations by the US Department of Justice. An official investigation by the SFO has yet to be confirmed. Sources: Guardian & Daily Telegraph.

More arrests were made in October in relation to the activities of the employees and agents of Securency International and their alleged corrupt role in securing international polymer banknote contracts. Source: SFO press release,

Former Securency bosses arrested in July 2011. Federal police charged two Reserve Bank of Australia currency firms, Securency and Note Printing Australia, along with several of the company's former senior managers with paying massive bribes to foreign officials in order to win banknote supply contracts. ... The arrests and charges marked a major milestone in Australia's biggest bribery scandal and are the first time foreign bribery laws have been used in the nation's history. Source: Sydney Morning Herald

Latest update 7 December 2012: Bill Lowther was accused of bribing the Vietnamese bank governor by paying for his son to attend Durham University in exchange for a printing contract in September 2011. A jury at Southwark Crown Court cleared Mr Lowther of conspiracy to corrupt in December 2012. Source: The Northern Echo

Update 28 October 2011: Note Printing Australia and Securency to appear before Supreme Court of Victoria on 8 November. Source: The Age (Melbourne)

Update September 16: SFO charges Bill Lowther with taking part in conspiracy to help secure a university place for the son of the then governor of Vietnam's state-owned bank Le Duc Thuy. Source: The Guardian

Update September 13: Former executive from Note Printing Australia (subsidiary of Reserve Bank of Australia) extradited from Germany to Australia - Christian Boillot. Source: The Age (Melbourne)

Update August 11: A former Securency executive faces charges of facilitating the largest bribe allegedly paid by the Reserve Bank subsidiary to win currency contracts in Asia. Federal police allege that former Securency sales boss Clifford John Gerathy facilitated payments of $17.2 million to an agent in Vietnam and falsified accounts in regard to a contract in Malaysia. Source: The Age (Melbourne).

On 15 August, the SFO officially opened an investigation into "certain commercial arrangements" between Barclays Bank and Qatar Holdings in 2008. The investigation is into fees paid to Qatar's sovereign wealth fund as the bank sought to raise money to avoid government bailout. An investigation by the FSA is being run at the same time. Source: SFO; Bloomberg; The Guardian

In October 2011 it was rumoured the SFO may investigate allegations that European defence group EADS gave Saudi Arabian officials luxury cars, jewellery and briefcases of cash in an apparent attempt to smooth the passage of a £2bn communications contract. According to reports, the ‘kickbacks’ were exposed by whistleblower Lieutenant-Colonel Ian Foxley and involved EADS UK subsidiary GPT Special Project Management. In August 2012, the SFO officially opened an investigation into these allegations. Sources: Sunday Times, Transparency International; SFO

Paul Jennings (Innospec)

Former chief executive of Innospec, Paul Jennings, appeared before Westminster Magistrates' Court on 27 October 2011 on charges surrounding alleged corrupt payments to gain public contracts in Indonesia and Iraq. He appeared along with Dennis Kerrison. The case was sent to Southwark Crown Court and Mr Jennings and Mr Kerrison appeared on 17 January 2012. Mr Jennings pleaded guilty to charges of conspiracy to corrupt, in that he gave corrupt payments to public officials and other agents of the Government of Indonesia and Iraq, as inducements to secure contracts from the Government for supply of Tetraethyl at a plea and case management hearing on 11 June 2012. On 30 July 2012, he pleaded guilty to the charge of conspiracy to corrupt Iraqi public officials by making payments as inducements to ensure tests on MMT (a competitor product) concluded with an unfavourable assessment. Source: SFO press release (11June) and SFO press release (30 July)

Christopher Ronnie (ex-CEO of JJB) and David Ball (accountant and owner of a supplier to JJB) appeared before Westminster Magistrates' Court on 4 April 2012 in connection with an alleged £1m fraud relating to contracts entered into by JJB Sports. Both defendants were released on bail and investigations into other offences by individuals are ongoing. Source: SFO press release

A case management hearing took place on 25 July 2012, with the next appearance taking place on 16 November 2012. A trial has been provisionally set for 9 September 2013. Source: SFO case tracker

Background: The SFO launched an investigation into Sports Direct, into the company's alleged involvement with cartel activity in the sportswear industry. In October 2010, the SFO investigation into Sports Direct International plc and JJB Sports plc was completed and it was decided that no charges are to be brought against the companies. Source: SFO press release

Dr David Turner (Innospec)

Dr David Turner appeared before Westminster Magistrates' Court (25 Oct 2011). He was charged with alleged offences of conspiring to make corrupt payments to public officials in Indonesia and Iraq to secure contracts for Innospec Ltd for the supply of its products. He was also charged with conspiring to defraud a competitor company by bribing Iraqi officials to provide unfavourable test results on its product. Source: FFW e-Alerter;

The case was sent to Southwark Crown Court where Dr Turner appeared on 17 January 2012. He pleaded guilty to three counts of conspiracy to corrupt. Sentencing was adjourned. Source: FFW eAlerter

Alstom has been under investigation by the SFO since April 2009. French officials said they opened an investigation in 2008. In March 2010, staff from the SFO raided five Alstom properties and four residential addresses on suspicion of bribery. Source: FFW update

Latest update: November 2011: The FT reports that Alstom has been ordered pay a €31m by Switzerland's attorney-general for "corporate negligence" in three cases where improper payments were made. See also: Alstom press release

Update September 2011: The Times reported that a senior figure from Alstom has held talks with the head of the Serious Fraud Office in a move that insiders said could lead to the resolution of allegations that it bribed foreign officials. The Times understands that a representative of Alstom met Richard Alderman in the summer after an approach by Alstom.

Update July 2011: Burgin applied for permission to apply for judicial review to challenge decisions of SFO to apply for search warrants of their homes. Application refused. Sources: FFW update, Burgin v Commissioner of Police for the Metropolis

The Serious Fraud Office has started looking into companies behind the A1 Grand Prix Series – the collapsed rival to Formula One – whose creditors still claim to be owed more than £400m. Source: Sunday Telegraph

The SFO launched an investigation into bribery at the publisher Macmillan after it admitted paying officials to win an education deal in south Sudan. Macmillan referred itself to the SFO following an investigation by the World Bank, which has banned the publisher from any of its contracts for six years. Source: FFW Newsflash

Banknote printer De La Rue has contacted the Serious Fraud Office as its investigation into printing irregularities deepens. The SFO confirmed it had been contacted and said they are monitoring the situation.

In May 2011 it was reported that the SFO had conducted an investigation and was still considering the matter. Source: Daily Telegraph

A detailed indictment served in Costa Rica alleges that a subsidiary of PWS, the insurance brokers which Lord Pearson of Rannoch founded and chaired, grossly overcharged the small central American state for its insurance premiums.

The Serious Fraud Office investigated, and arrested a number of PWS executives for questioning.
In October 2010, Julian Messent was sentenced after pleading guilty to making or authorising corrupt payments to Costa Rican officials.

The Serious Fraud Office confirmed that it is investigating the affairs of the British Seafood Group which collapsed in February. A spokeswoman for the SFO told Fishupdate: "We have been asked to look into allegations of fraud and false accounting. Because the investigation is ongoing I cannot comment any further at this stage." Source: FishUpdate.com

Rio Tinto faced a possible SFO investigation after four former executives from the UK company were convicted of bribery in China. Source: Daily Telegraph