Bribery – Prevention Is Always Better Than Cure

Yesterday, the Serious Fraud Office ("SFO") charged four British nationals, including an IFA, (all connected with Sustainable AgroEnergy plc – a biofuel investment group) with offences of conspiracy to commit fraud by false representation and conspiracy to furnish false information, contrary to section 1 of the Criminal Law Act 1977. According to the SFO, "the value of the alleged fraud is approximately £23m and the offences are said to have taken place between April 2011 and February 2012."

More significantly though, three of the four were also charged with offences of making and accepting a financial advantage contrary to sections 1 and 2 of the Bribery Act 2010. This marks the first charges brought by the SFO under the Bribery Act 2010 and, although those on the receiving end are individuals this time around, sends out a warning to those organisations without "adequate measures" in place that the SFO may not be so afraid to flex its muscle in response to