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Ex-Owner Cops To £12M Bribery Scheme At Manufacturing Co.

Law360, London (May 30, 2019, 8:56 PM BST) -- The managing director of a British industrial product provider pled guilty to paying bribes to the purchasing manager of a German company to secure £12 million ($15 million) worth of business, the Serious Fraud Office announced Thursday.

Carole Ann Hodson, who was also a majority owner of the British company, ALCA Fasteners Ltd., pled guilty to bribery in connection with the scheme, entering the plea at Walsall Magistrates' Court.

"Justice has been served today," SFO Director Lisa Osofsky said in a statement Thursday. "Bribery has no place in British business. This sort of corruption corrodes trust and distorts markets, making it impossible...

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