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 announces investigation into the Raedex Consortium group of companies09/04/2021 13:05:00
The SFO is investigating suspected fraud in relation to the activities of the Raedex Consortium, including the companies Buy2Let Cars, PayGo Cars, Raedex trading as Wheels4Sure and Rent2Own Cars.
Fourth oil executive sentenced for paying bribes to win a multi-million pound contract in post-occupation Iraq02/03/2021 13:05:00
Paul Bond was yesterday sentenced to three and half years’ imprisonment for conspiring with others to bribe Iraqi public officials to secure lucrative oil contracts in post-occupation Iraq.
SFO charges former biodiesel trader with fraud and money laundering26/02/2021 13:05:00
The SFO has charged biodiesel trader Gianni Rivera with fraud and money laundering in connection with its investigation concerning the sustainable fuel sector.
SFO closes British American Tobacco (BAT) Plc investigation15/01/2021 15:33:00
Following extensive investigation and a comprehensive review of the available evidence, the SFO has concluded its investigation into British American Tobacco, its subsidiaries and associated persons.
Former senior Petrofac executive pleads guilty to bribery offences15/01/2021 12:25:00
In connection with the SFO’s ongoing investigation into Petrofac Limited and its subsidiaries (Petrofac), David Lufkin, a British national and the former Global Head of Sales at Petrofac, yesterday pleaded guilty at Westminster Magistrates’ Court to three counts of bribery.
SFO secures £1.2m following investigation into West London property linked to Brazilian bribery scandal16/11/2020 13:05:00
The SFO recently (12 November 2020) secured £1,198,424.78 from Julio Faerman, the owner of a £4.25m luxury apartment in West London which the SFO suspected to have been partly purchased with the corrupt funds of its owner’s criminal conduct.
SFO enters into Deferred Prosecution Agreement with Airline Services Limited02/11/2020 13:05:00
The Serious Fraud Office has entered into a Deferred Prosecution Agreement (DPA) with Airline Services Limited (ASL) having recently (30 October 2020) received final approval from Mrs Justice May.
Serious Fraud Office releases guidance on Deferred Prosecution Agreements26/10/2020 13:05:00
The SFO recently (23 October 2020) published a chapter from its handbook which offers comprehensive guidance on how we approach Deferred Prosecution Agreements (DPAs), and how we engage with companies where a DPA is a prospective outcome.