Following a December 2015 guilty plea to offenses under Section 7 of the U.K. Bribery Act, U.K.-listed Sweett Group, a construction-industry project management company with global operations, was ordered on February 19, 2016, to pay £2.25 million. The amount consists of a £1.4m fine (half to be paid a year from now and half by February 2018), £851,152.23 in confiscation (to be paid within three months) and £95,031.97 in costs awarded to the Serious Fraud Office (SFO).
While the SFO's investigation into individuals remains ongoing, the Sweett Group pleaded guilty late last year following an investigation that began in July 2014 related to the company's activities in the Middle East.
In response to the sentence, Director of the SFO David Green said, "Acts of bribery by UK companies significantly damage this country's commercial reputation. This conviction and punishment, the SFO's first under Section 7 of the Bribery Act, sends a strong message that UK companies must take full responsibility for the actions of their employees and in their commercial activities act in accordance with the law."
See The Guardian for more information.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.