After its largest ever graft probe, Britain's Serious Fraud Office (SFO) found Rolls-Royce paid massive bribes over three decades to win contracts in Indonesia, Thailand, India, Russia, Nigeria, China, and Malaysia.
The SFO alleges that Rolls-Royce bribed an AirAsia Group executive with credits worth $3.2 million to be used to pay for the maintenance of a private jet. The SFO added that "this financial advantage" was given to the executive "in return for his showing favour towards Rolls-Royce in the purchase of products and services." AirAsia, which is the region's biggest budget carrier by fleet size, said it had done nothing wrong in purchasing the Bombardier Global Express private jet and that it had "gone through the due process and obtained the necessary approval."
"We wish to state that at all material times, AirAsia has had no dealings or transactions with Rolls-Royce," AirAsia said.
Earlier in January, Indonesia's anti-corruption agency named the former CEO of the country's flag carrier Garuda a suspect for allegedly receiving bribes from Rolls-Royce while he was head of the airline.
In Thailand, investigators found some $36 million in bribes and incentives were paid between 1991 and 2005 to intermediaries - including "agents of the State of Thailand and employees of Thai Airways" - to help the company win lucrative jet engine deals.
Rolls-Royce last week agreed to pay a $808 million fine to authorities in Britain, the United States and Brazil to settle bribery and corruption claims.
Source: AFP
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za
