U.K. Prosecutors Arrest Two Men in Rolls-Royce Bribery ProbeJeremy Hodges and Robert Wall
U.K. fraud prosecutors arrested two men and searched several properties in London as part of their investigation into bribery and corruption at Rolls-Royce Holdings Plc.
The Serious Fraud Office started a formal investigation into “concerns about bribery and corruption in overseas markets” in December, the London-based maker of commercial aircraft engines said in a statement at the time. Last month, the agency asked the government for an extra 19 million pounds to pay for “blockbuster” cases, including the Rolls-Royce probe.
Rolls-Royce identified “matters of concern” in 2012 in China and Indonesia in a review spurred by an inquiry from the SFO. The company named David Gold, previously a partner at the law firm Herbert Smith LLP, to review anti-corruption procedures.
The company declined to comment today about the arrests and searches. The SFO said it was assisted by officers from the National Crime Agency and the City of London Police. The Financial Times reported the news earlier today.