Timothy Thompson of Kangs Solicitors reports on the apparent termination of the Serious Fraud Office (’SFO’) investigation into the affairs of Unaoil.
The Background | Kangs Complex Fraud Solicitors
- Unaoil is a Monaco based company, owned by the Ahsani family, described as providing ‘industrial solutions to the energy sector in the Middle East, Central Asia and Africa’.
- In March 2016, the SFO commenced an investigation into the affairs of Unaoil, particularly the alleged facilitation of corrupt payments following a ‘leak’ of internal emails to journalists at Australia’s Fairfax media.
- Police in Monaco raided Unaoil’s headquarters at the SFO’s request.
- The investigation was said to be linked to the alleged Rolls Royce corruption and involved co-operation from many legal enforcement authorities worldwide.
The Current Situation | Kangs Serious Fraud Defence Solicitors
- It was recently reported that, despite a lengthy and ongoing worldwide investigation, the SFO ‘had dropped its investigation into the involvement of the Ahsanis in alleged large-scale bribery’.
- A few hours after tabloid reports, the multinational company, Technip FMC, admitted that predecessor firms had engaged in bribery schemes in pursuit of commercial contracts in Iraq and Brazil through Unaoil.
- The SFO now faces significant criticism linked to the decision to cease investigation into Rolls Royce and GSK.
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