Serious Fraud Office
Three individuals acquitted as SFO confirms DPA with Güralp Systems Ltd
Cansun Güralp, Andrew Bell and Natalie Pearce were today acquitted of conspiracy to make corrupt payments in relation to payments made to a South Korean public official between 2002 and 2015.
The conclusion of the trial removes reporting restrictions on the Deferred Prosecution Agreement reached by the SFO and Güralp Systems Ltd, which was agreed in October 2019. Güralp Systems Ltd accept the charges of conspiracy to make corrupt payments and a failure to prevent bribery by employees in relation to the payments made between 2002 and 2015.
As a result of this DPA, Güralp Systems Ltd has agreed to pay a total of £2,069,861 for disgorgement of gross profits to the SFO for onward transmission to the Consolidated Fund. The DPA also requires Güralp Systems Ltd to cooperate fully and truthfully with the SFO and to review and maintain its existing internal controls, policies, and procedures regarding compliance with the Bribery Act 2010.
Director of the Serious Fraud Office, Lisa Osofsky, said:
“The Deferred Prosecution Agreement with Güralp Systems Ltd ensures that the company will pay the price for the wrongdoing that occurred under its roof.
“The DPA is a result of Güralp Systems Ltd’s timely self-reporting and full cooperation, and holds the company to account whilst also promoting positive changes in corporate culture.”
Güralp Systems Ltd appointed a new Executive Chairman in December 2014, who identified wrongdoing and ordered an internal investigation. Following this internal investigation, Güralp Systems Ltd self-reported to both the SFO and the US Department of Justice on 23 October 2015. The SFO commenced its own independent and comprehensive investigation on 3 December 2015.
Notes to Editors:
- The SFO investigation began on 3 December 2015.
- Cansun Güralp, Andrew Bell and Natalie Pearce were each charged of conspiracy to make corrupt payments, contrary to section 1(1) of the Criminal Law Act 1977.
- Cansun Güralp and Andrew Bell were charged by requisition with conspiracy to make corrupt payments on 26 July 2018. Natalie Pearce was charged with the same offences on 28 September 2018.
- Under the DPA, Güralp Systems Ltd is charged with conspiracy to make corrupt payments, contrary to section 1 of the Criminal Law Act 1971 and failure to prevent bribery by employees, contrary to section 7 of the Bribery Act 2010.
- Counsel for the prosecution:
- Simon Mayo QC
- Trevor Archer
- Greg Unwin
- Counsel for the defence:
- Counsel for Güralp: Tom Allen QC, Nicola Howard QC
- Counsel for Pearce: John Ryder QC, Roxanne Morrell
- Counsel for Bell: Neil Hawes QC, Paul Morgan
- The Deferred Prosecution Agreement, Statement of Facts and full Judgment can be found here.
Latest News from
Serious Fraud Office
SFO charges four individuals with fraud at Balli Group and Balli Steel30/09/2020 12:33:00
The SFO has charged four individuals with various fraud offences in relation to the activities of Balli Group Plc and Balli Steel Plc.
Lisa Osofsky address to the Cambridge Symposium on Economic Crime09/09/2020 14:33:00
Lisa Osofsky address given recently (07 September 2020) to the Cambridge Symposium on Economic Crime.
Three former G4S executives charged with fraud against taxpayer08/09/2020 16:15:00
The Serious Fraud Office has charged three former executives of G4S Care and Justice Services (UK) Ltd (G4S C&J) with multiple offences in relation to a multi-year scheme to defraud the Ministry of Justice (MoJ).
SFO secures £5.45m confiscation order against ex-Afren CEO and COO03/08/2020 13:05:00
The SFO recently (31 July 2020) secured confiscation orders totalling £5,450,000 against the former Chief Executive Officer and Chief Operating Officer of Afren.
SFO charges GPT and three individuals following corruption investigation31/07/2020 09:33:00
The Serious Fraud Office has brought charges against GPT Special Project Management Ltd and three individuals in connection with its investigation into allegations concerning the conduct of GPT’s business in the Kingdom of Saudi Arabia.
HMCPSI Inspection of SFO’s response to COVID-19: 16 March to 8 May 202030/07/2020 16:38:00
The HM Crown Prosecution Service Inspectorate (HMCPSI) conducted a review of the SFO’s immediate response to Covid-19. It can be accessed here.
Applying SSRO guidance to costs affected by COVID-1921/07/2020 13:05:00
The SSRO has published a note to assist the MOD and contractors in identifying and applying relevant SSRO guidance to qualifying contracts affected by the COVID-19 pandemic.
SFO receives final approval for DPA with G4S Care & Justice Services (UK) Ltd17/07/2020 17:17:17
The Serious Fraud Office has today received final approval to enter into a Deferred Prosecution Agreement with G4S Care and Justice Services (UK) Ltd (G4S C&J) relating to a scheme to defraud the Ministry of Justice (MoJ) in connection with contracts for electronic monitoring of offenders.