After more than 2 years since the Bribery Act 2010 came into
force, the Serious Fraud Office's (SFO) first prosecution under
the Act finally began on Monday of this week. The charges were
brought against four individuals who are former employees of the
bio fuel investment promoter Sustainable ArgoEnergy Plc and not the
company itself. Sustainable ArgoEnergy Plc is a subsidiary of the
Sustainable Growth Group, which went into administration in March
2012.
The four individuals are now on trial at Westminster Magistrates
Court charged with conspiring to commit a £23 million fraud
by false representation and conspiracy to furnish false
information. The charges relate specifically to the marketing and
sale of bio fuel investment products to UK investors between April
2011 and February 2012. Of the four individuals charged, two
directors and an independent financial advisor have also been
charged with making and accepting a financial advantage contrary to
the Bribery Act
