24th Sep 2021 15:27
(Alliance News) - The UK Serious Fraud Office on Friday said Petrofac Ltd has pleaded guilty to 7 bribery offences.
Shares in the Jersey-based provider of services to the oil and gas industry were 23% higher in London on Friday afternoon at 133.50 pence each.
"Following requisition by the Serious Fraud Office, Petrofac Ltd attended Westminster Magistrates' Court where the company was charged with seven separate offences of failing to prevent bribery between 2011 and 2017," the SFO said.
After being heard at Westminster Magistrates' Court, the case has been sent to the Crown Court, which the regulator explained is in line with the legal procedure for SFO cases into serious and complex financial crime.
The SFO added: "The next hearing will take place on Monday 27 September at Southwark Crown Court, where pleas from the defendant will be entered. Petrofac Ltd has reported its intention to plead guilty, following a plea agreement it has entered into with the Serious Fraud Office."
By Paul McGowan; [email protected]
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