News Business Crime & Financial Services 24th Jan 2017

Chris Foulkes in largest UK deferred prosecution agreement

Chris Foulkes was part of a team of counsel instructed by the SFO in the largest ever UK deferred prosecution agreement, between the SFO and Rolls Royce Plc.

On 17th January 2017, Sir Brian Leveson, President of the Queen’s Bench Division, approved a settlement involving a financial order of £497.25 million, plus interest and costs. The court suspended an indictment containing 12 counts alleging conspiracy to corrupt, false accounting and failure to prevent bribery. The allegations involve the company’s Civil Aerospace and Defence Aerospace businesses, as well as its former Energy business. The conduct covered by the DPA took place across seven jurisdictions: Indonesia, Thailand, Malaysia, India, Russia, Nigeria, and China, and spanned more than two decades.

On the same date, Rolls-Royce also reached an Agreement with the US Department of Justice, and a Leniency Agreement with Brazil’s Ministério Público Federal.

The total sum to be paid by Rolls Royce pursuant to these agreements is approximately £671 million.

Click here to read the full judgment.

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