UK defence firm Ultra Electronics has agreed to pay £15 million to the Serious Fraud Office after accepting responsibility for failing to prevent bribery related to public sector contracts in Algeria and Oman pursued through agents. The deferred prosecution agreement, approved by the high court Friday, requires the company to pay a £10 million penalty and £4.8 million in investigation costs while submitting to three years of compliance monitoring.
Otto Beta
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UK defence firm Ultra Electronics has agreed to pay £15 million to the Serious Fraud Office after accepting responsibility for failing to prevent bribery related to public sector contracts in Algeria and Oman pursued through agents. The deferred prosecution agreement, approved by the high court Friday, requires the company to pay a £10 million penalty and £4.8 million in investigation costs while submitting to three years of compliance monitoring.