UK fraud office says Sweett Group admits to bribery in Middle East
Reuters
Published Dec 02, 2015 16:05
UK fraud office says Sweett Group admits to bribery in Middle East
(Reuters) - Britain's Serious Fraud Office (SFO) said Sweett Group Plc (L:CSWG), a provider of professional services for the construction industry, had admitted to bribery in the Middle East.
The SFO said on Wednesday that Sweett had admitted to an offence under Section 7 of the Bribery Act 2010. (http://bit.ly/1PuGffL)
Sweett, which provides services for the construction and management of building and infrastructure projects, said the offence involved two related contracts signed in 2013.
The SFO said in July last year that it had opened an investigation into the company's activities in the United Arab Emirates and "elsewhere". (http://bit.ly/1OFvdBk)
The Wall Street Journal had first reported the allegations of corruption in June 2013. (http://on.wsj.com/1YHkpr2)
Sweett's shares were down 14.5 percent at 17.25 pence at 1131 GMT on the London Stock Exchange.
(The story was refiled to say "UK fraud office" from "UK regulator" in headline)
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Written By: Reuters
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