Sweett Group Admits Bribery Offense in Win for U.K. Prosecutor - Bloomberg Business

Sweett Group Admits Bribery Offense in Win for U.K. Prosecutor - Bloomberg Business:

"Sweett Group Plc is set to become the first company to plead guilty under new U.K. bribery laws after admitting to an offense related to contracts in the Middle East.
The U.K. construction company will appear in court to be charged in the coming weeks, the Serious Fraud Office said Wednesday. The conduct relates to two contracts entered into in 2013, Sweett Group said in a statement.
The development is a major milestone for the SFO, which has faced criticism for not securing any company convictions after the U.K. overhauled its bribery laws in 2011. The laws saw all major businesses invest millions of pounds on compliance procedures out of fear there would be a swathe of prosecutions that never emerged."



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