The company had cooperated with the Serious Fraud Office’s investigation, and had pleaded guilty to two corruption charges and another relating to breach of the Iraq sanctions in 2001-2002.
The Serious Fraud Office said Mabey & Johnson’s holding company voluntarily disclosed the corruption offenses in February 2008, and an investigation was opened. After five of the company’s directors stepped down that year, a new management team was put in place.
“What our company did in the past is a matter of deep regret,” said Peter Lloyd, the company’s new managing director. “We have now made a fresh start, having wiped the slate clean of these offenses.”
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