Another Setback To The SFO's Individual Prosecution Efforts
Law360 (August 30, 2019, 2:15 PM EDT) -- The recent acquittal of three Sarclad Ltd. employees at Southwark Crown Court connected to the Serious Fraud Office’s Sarclad deferred prosecution agreement (previously referred to only as XYZ Ltd. due to ongoing, related legal proceedings) presents another high-profile setback for the SFO. Holding individuals to account is proving very difficult. Notwithstanding DPAs also being agreed with ICBC Standard Bank PLC, Tesco PLC and Rolls Royce PLC, prosecuting individuals in these matters has proved more onerous for the SFO.
Sarclad is a U.K. small-to-medium-sized company that sold steel products globally using a network of agents in foreign countries. It signed a DPA with...
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