Five convictions in SFO’s Alstom investigation into bribery & corruption to secure €325 million of contracts
Nicholas Reynolds was found guilty yesterday of conspiracy to corrupt following an extensive investigation and prosecution brought by the Serious Fraud Office.
There have now been 4 convictions in relation to this conspiracy to bribe officials in a Lithuanian power station and senior Lithuanian politicians in order to win two contracts worth €240 million. These individuals falsified records to avoid checks in place to prevent bribery and between them, the Alstom companies paid more than €5 million in bribes to secure the contracts.
The conviction of Nicholas Reynolds who is a UK national and former Global Sales Director for Alstom Power Ltd’s Boiler Retrofits unit followed a guilty plea from former Business Development Manager at Alstom Power Ltd John Venskus on 2 October 2017 and former Regional Sales Director at Alstom Power Sweden AB Göran Wikström on 22 June 2018 on the same charge. Alstom Power Ltd entered a guilty plea to one count of conspiracy to corrupt on 10 May 2016.
In sentencing Göran Wikström HHJ Martin Beddoe said:
““This was a very serious example of bribery and corruption that beleaguers the civilised, commercial world and is a cancer upon it”
Lisa Osofsky, Director of the Serious Fraud Office said:
“The culture of corruption evident within the Alstom Group was widespread. Their illicit activities to win lucrative contracts were calculated and sustained, undermining legitimate business and public trust.
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