FD prosecuted by anti-corruption unit
26 Aug 2008, Rachael Singh, AccountancyAge
http://www.accountancyage.com/aa/news/1778390/fd-prosecuted-anti-corruption-unit
The Department for Business Enterprise and Regulatory Reform has announced that the City of London Police Overseas Anti-Corruption Unit has made its first successful prosecution.
Neil Tobiasen, finance director and managing director of CBRN Team, was convicted of overseas corruption and pleaded guilty to bribing Ugandan officials at Southwark Crown Court, the Financial Times reported.
CBRN, are a British Security company based in Wiltshire that specialises in countering chemical threats.
John Hutton, anti-corruption minister said: 'I whole heartedly congratulate the Overseas Anti-Corruption Unit for their landmark success in this case.'
'Corruption hurts honest companies and raises the cost of doing business. This is the first of what I hope will be many victories for the unit in the fight against corruption and bribery' he added.
It is the first conviction since the 2001 law which explicitly makes it an offence to bribe foreign public officials. It was lead by Berr which heads up the anti-corruption efforts in the UK.
Tobiasen will be sentenced later this year.
Further reading:
© Incisive Media Investments Limited 2012, Published by Incisive Financial Publishing Limited, Haymarket House, 28-29 Haymarket, London SW1Y 4RX, are companies registered in England and Wales with company registration numbers 04252091 & 04252093
Visitor comments
The Way of the World
My background is international development. And whether you are selling arms to a bunch of despots or selling drills to the same governments to provide water relief to their starving people, baaksheesh or bribes ro grease the skids are part of the deal making process. it's not so much that it gives a company an unfair advantage over competitors as it is an ingrained business cultural characteristic in the third world. It is incredibly naive to believe that it is possible to do business with "developing nations" - including China and Russia - without the backhanders that have been indemic in those societies for more than 500 - 1000 years. It is almost arrogant to prosecute business people who HAVE to pay these bribes (already built into budgets with a wink or nod as "cost overruns" or "out of pocket expenses"). The reality is that if private businesses or even non-governmental aid organisations (yes, even that waste of space and money, the UN) want to achieve anyting in wretched places around the world - get real, they are - then bribery of some sort at some point MUST be paid to someone. It is unfortunate, but it is part of the "heritage" of most countries. It might be wrong, and I agree, but it is the way of the world.
Posted by: Stephen Elliott Esq , 27 Aug 2008 | 00:00
Disclosure in public domain
I think both giver and taker are equally guilty and it is unfair to indentify soft target .
if company accounts disclose this with details and put the information in public domain in both the domains of buyer and seller the pupose of reducing bribes will be achieved.
it will also cover loans taken for political purpose to be waived off at later dates .
Posted by: VINAYAK GORHE , 08 May 2009 | 00:00