The corruption cases databases are a product of the staff of the International Bank for Reconstruction and Development / The World Bank. It is intended for general information purposes only. The findings, interpretations, and conclusions expressed in the Database do not necessarily reflect the views of the Executive Directors of The World Bank or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. Neither the World Bank Group nor its officers or employees shall be liable for any losses that may result directly or indirectly from the use of or reliance upon such information.
Inaccurate business records (Section 221 Companies Act 1985)
According to the UK Serious Fraud Office Press Release, in April 2008 the SFO obtained the power to issue civil recovery orders under the Proceeds of Crime Act 2002, under which the SFO can recover property obtained by unlawful conduct. The October 8, 2009 SFO press release noted that "These provisions do not require a specific offence to be established against any particular company or individual, merely tht the property sought is the proceeds of unlawful conduct." Balfour Beatty brought the payment irregularities to the attention of the SFO; the payments occurred within a subsidiary entity [name not mentioned in the press release] during the construction of The Bibliotheca Project in Alexandria, Egypt, completed in 2001; the project was undertaken by a Balfour Beatty subsidiary in a joint venture with an Egyptian company. In a Consent Order agreed to on October 6, 2008 before the High Court, Balfour Beatty agreed to a settlement payment of GBP 2.25 million together with a contribution towards the costs of the Civil Recovery Order proceedings. (Source: UK Serious Fraud Office, "Balfour Beatty plc," October 6, 2008, accessed at http://www.sfo.gov.uk/press-room/latest-press-releases/press-releases-2008/balfour-beatty-plc.aspx). Balfour Beatty plc also announced the settlement in a statement released on October 8, 2008: "Balfour Beatty reaches full settlement of issues relating to Bibliotheca Alexandrina [sic] project," accessed at http://www.balfourbeatty.com/index.asp?pageid=42&newsid=173.
UK Serious Fraud Office Press Release, "Balfour Beatty plc: Serious Fraud Office successfully obtains first ever Civil Recovery Order involving major plc.," October 6, 2008, accessed at http://www.sfo.gov.uk/press-room/press-release-archive/press-releases-2008/balfour-beatty-plc.aspx; Balfour Beatty plc company statement, "Balfour Beatty reaches full settlement of issues relating to Bibliotheca Alexandrina [sic] project," October 8, 2008, accessed at http://www.balfourbeatty.com/index.asp?pageid=42&newsid=173. See also, United Kingdom Report to the OECD, "Steps taken to implement and enforce the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions (Information as of 16 August 2011), accessed at http://www.oecd.org/dataoecd/17/30/48362318.pdf
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