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10/12/2015
Sweett Group Charged With Bribery Offence In Middle East
Building consultant Sweett Group has been charged with a bribery offence by the UK's Serious Fraud Office (SFO).
An investigation was launched by the SFO last year after bribery allegations in a Wall Street Journal newspaper report.
It is understood a former Sweett executive requested a bribe to complete a deal in the Middle East.
An internal investigation by Group discovered two 'suspicious' contracts which were reported to the SFO.
In a statement, the SFO said: "Between 1 December 2012 and 1 December 2015 Sweett Group PLC, being a relevant commercial organisation, failed to prevent the bribing of Khaled Al Badie by an associated person, namely Cyril Sweett International Limited, their servants and agents, which said bribing was intended to obtain or retain business, and/or an advantage in the conduct of business, for Sweett Group PLC, namely securing and retaining a contract with Al Ain Ahlia Insurance Company for project management and cost consulting services in relation to the building of a hotel in Dubai, contrary to Section 7(1) of the Bribery Act 2010."
Douglas McCormick, CEO of Sweett Group added: "We welcome this development which brings closure on the Middle East legacy issues a step closer allowing the group to progress unencumbered in the future.
"This is an important next step in the strategic turnaround of the business."
(LM/CD)
An investigation was launched by the SFO last year after bribery allegations in a Wall Street Journal newspaper report.
It is understood a former Sweett executive requested a bribe to complete a deal in the Middle East.
An internal investigation by Group discovered two 'suspicious' contracts which were reported to the SFO.
In a statement, the SFO said: "Between 1 December 2012 and 1 December 2015 Sweett Group PLC, being a relevant commercial organisation, failed to prevent the bribing of Khaled Al Badie by an associated person, namely Cyril Sweett International Limited, their servants and agents, which said bribing was intended to obtain or retain business, and/or an advantage in the conduct of business, for Sweett Group PLC, namely securing and retaining a contract with Al Ain Ahlia Insurance Company for project management and cost consulting services in relation to the building of a hotel in Dubai, contrary to Section 7(1) of the Bribery Act 2010."
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Douglas McCormick, CEO of Sweett Group added: "We welcome this development which brings closure on the Middle East legacy issues a step closer allowing the group to progress unencumbered in the future.
"This is an important next step in the strategic turnaround of the business."
(LM/CD)
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