Monday 14 July 2014

SFO Probes Sweett Group Over Alleged UAE Bribery - Risk & Compliance - WSJ

SFO Probes Sweett Group Over Alleged UAE Bribery - Risk & Compliance - WSJ:



"Sweett Group PLC said Monday the U.K. Serious Fraud Office launched an investigation into allegations of corruption involving a United Arab Emirates-based employee that were reported last year in The Wall Street Journal.



The Journal reported in June 2013 about a 2010 meeting between two men–an executive of Cyril Sweett International Ltd., a unit of Sweett, and one from architectural firm HLW International LLP–to discuss a bribe HLW would pay to an official inside the UAE president’s personal foundation as the firm tried to score a contract to design a hospital in Morocco that the foundation was funding. 




HLW agreed to make the payment but later halted it and hired lawyers, the Journal report said, quoting a spokesman who said the firm “ran into numerous obstacles” in the region, and later closed its Abu Dhabi office and ended its relationship with the UAE president’s foundation."



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