Britain's Serious Fraud Office on Friday dropped major investigations into engineering firm Rolls-Royce and pharmaceutical giant GlaxoSmithKline in a move condemned by anti-corruption watchdog Transparency International.

Rolls Royce had already reached a �500 million ($650 million, 574 million euros) agreement with the SFO over claims that corruption and bribery were used to win business in China, India, Indonesia, Thailand, India, Russia, Nigeria, China and Malaysia.

The SFO said it had now concluded that there would be "no prosecution of individuals associated with the company".

The investigation into GlaxoSmithKline, meanwhile, related to commercial practices by the firm, its subsidiaries and associated individuals.

"After an extensive and careful examination I have concluded that there is either insufficient evidence to provide a realistic prospect of conviction or it is not in the public interest to bring a prosecution in these cases," said SFO director Lisa Osofsky.

"In the Rolls-Royce case, the SFO investigation led to the company taking responsibility for corrupt conduct spanning three decades, seven jurisdictions and three businesses, for which it paid a fine of �497.25 million."

This figure, agreed in January 2017 as part of a so-called deferred prosecution agreement, was comprised of surrendered profits of �258 million and a financial penalty of �239 million.

Rolls-Royce is also paying an estimated �13 million to cover the SFO's costs.

The firm said it would not be commenting on Friday's decision, beyond saying it was cooperating fully with the authorities following the 2017 deal.

But anti-corruption campaigners Transparency International condemned the SFO's move.

"It is absurd that yet again a company can admit to bribery and yet neither the bribe payers nor the management team that allowed the crime to happen are held responsible," said executive director Robert Barrington.

ar/dt/jh

GLAXOSMITHKLINE

ROLLS-ROYCE HOLDINGS

Related Links
The Military Industrial Complex at SpaceWar.com
Learn about the Superpowers of the 21st Century at SpaceWar.com

Tweet

Thanks for being here; We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor $5 Billed Once credit card or paypal		SpaceDaily Monthly Supporter $5 Billed Monthly paypal only

How Shanahan may end up as permanent Pentagon chief
Washington (AFP) Feb 22, 2019
The US military is about to pull most troops out of Syria, seems set to slash its Afghanistan presence, and is engaged in a contentious mission on the border with Mexico. Yet the job of overseeing these momentous policies remains vacant - and President Donald Trump's interim pick is under fire from Republican lawmakers. The role is being filled by Acting Defense Secretary Patrick Shanahan, a former Boeing executive who was the Pentagon's number two until Jim Mattis quit in December over Trump's ... read more