First News
Volume:7, Number:29
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Business & Finance 4
THIS WEEK

Rolls-Royce to Pay USD810 Million Over Bribery Claims

Rolls-Royce, Britain’s leading multinational manufacturer, is to pay USD810 million in penalties after longrunning investigations into claims it paid bribes to land export contracts. The settlement means the engineering giant will avoid being prosecuted by anti-corruption investigators in the UK, US and Brazil, though individual executives may still be charged. It comes five years after investigators across three continents first began examining claims that the USD16-billion multinational had paid bribes to secure contracts in countries around the world. Last year a joint Guardian and BBC Panorama investigation identified 12 countries in which Rolls-Royce had hired “commercial agents” or advisers to help it secure high-value contracts. Anti-corruption campaigners said the deal showed the British government was not serious about tackling bribery, despite years of rhetoric promising to make the UK a hostile environment for the corrupt. Rolls-Royce said it would pay USD600 million to the UK Serious Fraud Office, USD169 million to the US Department of Justice and USD25 million to the Brazilian authorities.

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