Sweett Group Told to Pay $3.3 Million in U.K. Bribery Case - Bloomberg Business

Sweett Group Told to Pay $3.3 Million in U.K. Bribery Case - Bloomberg Business:

"Sweett Group Plc, the first company to be convicted under new U.K. bribery laws, was ordered to pay about 2.3 million pounds ($3.3 million) at a sentencing hearing in London.
The U.K. construction company was accused of paying bribes to win contracts in the Middle East and pleaded guilty to the charge in December. The penalties issued by Judge Martin Beddoe Friday included a 1.4 million-pound fine and the return of about 850,000 pounds in benefits derived from the illegal payments.
The outcome is a rare victory for the U.K. Serious Fraud Office, which had faced criticism in recent years for failing to secure any corporate convictions under new U.K. bribery laws enacted in 2011. The change saw all major businesses invest millions of pounds on revamping their compliance procedures."



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