Bribery Act sinks its teeth into Sweett
A recent case puts businesses on notice that the Bribery Act
2010 has bite. Punished for failing to prevent the corrupt acts of
its subsidiary, and defenceless because of a complete absence of
procedures to prevent acts of bribery being committed on its
behalf, Sweett Group PLC has the unwelcome distinction of being the
first company to be convicted under the Bribery Act's corporate
offence.
Sweett Group PLC (Sweett) is a construction company listed on
AIM. Its subsidiary in the UAE paid a bribe to a senior Emirati
official at an insurance company in order to secure a consultancy
contract relating to the construction of a hotel. The bribe
amounted to GBP 680,000 and was made in monthly payments under a
sub-consultancy agreement.
