SFO Drops 3-Year Bribery Probe Into Engineering Co.

Law360, London (May 19, 2020, 3:52 PM BST) -- Britain's Serious Fraud Office has dropped its three-year bribery and corruption investigation into the U.K. subsidiaries of a Swiss engineering company that reported potentially inappropriate payments to the watchdog, which said Tuesday that the case did not clear the bar for prosecution.

The agency launched an investigation into ABB Ltd. and its employees and agents in 2017 in connection with its criminal probe into Unaoil, a Monaco-based oil and gas consultancy. ABB had reported alleged improper payments made by Unaoil in its dealings with the consultancy.

The SFO said in a statement that it had concluded "after an extensive and careful...

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