Rolls-Royce, the second-second largest maker of aircraft engines in the world, may be facing bribery and corruption charges in China and Indonesia. The Serious Fraud Office (SFO) has ordered the company to conduct an internal inquiry into dealings involving intermediaries in said countries.
Chief Executive John Rishton commented, “It is too early to predict the outcomes, but these could include the prosecution of individuals and of the company. We will cooperate fully.”
A source that is able to get inside-scoop of the investigation believes that the allegations relate to events that occurred in the “distant past”. These allegations may not fall under the British Bribery Act that only came into existence in July of 2011.
“I want to make it crystal clear that neither I nor the board will tolerate improper business conduct of any sort and will take all necessary action to ensure compliance,” Rishton said in a statement. “This is a company with exceptional prospects and I will not accept any behavior that undermines its future success.”
Paul Hudson | Elite.