27 Jun 2011

Uk Corruption Watchdog Investigates Eads

The UK’s Serious Fraud Office (SFO) has launched an investigation into the European defense group EADS bribed Saudi officials in order to win a $3.3 billion communications contract for GPT Special Project Management, owned by EADS, to provide communications and intranet services for Saudi National Guard.

In July, tough new anti-corruption laws in the UK will be enacted that place no limit on the fine for not putting into place adequate procedures to limit corruption, a current worry for any operation with interests in the UK.

For the original story that also discusses the BAE systems case in the UK and US, please see CNBC’s article here.