Clifford Chance

Shareholders carry financial risk for bribery in companies in which they invest

16 January 2012

The UK Serious Fraud Office ("SFO") has, for the first time, obtained a civil recovery order against a shareholder of a company involved in historic bribery. The order, made under Part V of the Proceeds of Crime Act 2002 ("POCA"), which enables the SFO and others to trace and recover "property obtained through unlawful conduct" , requires the shareholder concerned to repay £131,204 received by way of dividends from Mabey & Johnson Limited ("M&J"), which was convicted of corruption offences and breaches of sanctions in September 2009.

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