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Financial Services Law Insights and Observations

Four receive suspended sentences in SFO’s logistics company North Sea case

Financial Crimes FCPA

Financial Crimes

On January 11, the U.K.’s Serious Fraud Office (SFO) announced that four more individuals were sentenced in connection with a bribery scheme involving a logistics company’s oil exploration project in the North Sea. Three of the individuals—one former agent of an American energy corporation and two former logistics company directors—pleaded guilty prior to the trial. They received 6, 12, and 15 month prison sentences, although their terms are suspended for two years. The two former directors were also ordered to pay fines of £15,000 and £20,000.  The fourth individual, the logistics company’s former chief commercial officer, was convicted at trial. He received 9 months’ imprisonment (also suspended for two years), and was ordered to pay a £5,000 fine.

Several of the defendants also received suspended prison terms related to SFO’s logistics company Angola case. See previous FCPA Scorecard coverage of the probes here and here.

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