Sarclad Bribery Probe Found Contract Issues, Manager Says
Law360, London (May 30, 2019, 7:21 PM BST) -- Sarclad Ltd.’s internal probe into bribery allegations against some executives uncovered “contracts of concern” while reviewing purchase agreements the metals technology provider pursued with steel industry clients, a former operations manager testified.
Ian Dennis, who joined Sarclad as head of operations in December 2011, testified Tuesday in Southwark Crown Court that one such agreement included €150,000 ($167,000) set aside for a contact with a Chinese company in order for Sarclad to land a €1.9 million deal to provide a piece of steel-related equipment.
According to the Serious Fraud Office case, Sarclad founder Michael Sorby and former sales managers Adrian Leek and...
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