SFO accuses United Insurance Brokers of failing to prevent international bribery
The Serious Fraud Office has accused United Insurance Brokers Limited of failing to prevent international bribery and representatives of the company will appear before Westminster Magistrates’ Court on Wednesday 7 May to face the charges.
If this case proceeds to a contested trial, it will be the first time that an SFO “failure to prevent bribery” case is heard by a jury.
The company has been charged with failing to prevent associates from bribing state officials in Ecuador between October 2013 and March 2016.
The SFO alleges UIBL’s US-based intermediaries for Ecuador paid bribes in return for the awarding of re-insurance contracts worth $38m (£28.69m).
The SFO remains committed to stamping out international bribery wherever it may
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