Serious Fraud Office | Bombardier | Rosenblatt Financial Crime Team
16th November 2020
On 5th November 2020 the Serious Fraud Office (SFO) announced it is investigating Canadian aircraft manufacturer Bombardier Inc. on allegations of bribery and corruption.
SFO Investigation | Rosenblatt’s Financial Crime Team
The SFO confirmed that Bombardier was being investigated for suspected bribery and corruption in relation to contracts and/or orders from Garuda Indonesia, the national airline of Indonesia.
It has been reported that the deal to sell and lease aircraft to Garuda, which is at the centre of the SFO’s probe, took place in 2011-2012. Garuda’s former chief executive, Emirsyar Satar, was convicted and sentenced to eight years in prison in May 2020 for corruption and money laundering in relation to the Bombardier deal and after receiving bribes from aerospace businesses including Airbus and Rolls-Royce.
In 2017 Rolls-Royce agreed to pay more than $800m to defer charges after bribery investigations by the SFO and the US Justice Department, while Airbus agreed a plea bargain with authorities in the UK, US and France in February 2020 to pay $4bn in fines and make internal changes to avoid corporate criminal charges.
Bombardier has confirmed it had been informed about the SFO investigation and would cooperate.
Rosenblatt can help
Rosenblatt has a wealth of experience in financial crime and is uniquely placed to support clients’ that are the subject of a Serious Fraud Office investigation and prosecution having being involved in high profile investigations into a global pharmaceuticals company, a multi-million pound affordable property investment scheme, a multi-million pound pension fraud scheme and a world leading global security company.