The UK’ Serious Fraud Office (SFO) has opened an investigation into Swiss manufacturer ABB over suspected bribery and corruption involving oilfield services player Unaoil.
The probe was launched as a result of an internal investigation at ABB on foot of separate investigations into the company’s cable business in Brazil.
That internal probe led ABB to self-report to the US Securities & Exchange Commission, the US Department of Justice and the SFO “concerning certain of its past dealings with Unaoil and its subsidiaries, including alleged improper payments made by these entities to third parties”.
Both
