United Kingdom: UK’s anti-fraud agency abandons probe into ABB

The UK’s Serious Fraud Office has closed its investigation into Swiss-Swedish conglomerate ABB after finding insufficient evidence to bring charges, in the latest case the agency has cleared from its backlog.

The SFO opened an investigation into ABB in February 2017 for alleged bribery in relation to its sprawling probe into Monaco-based consultancy Unaoil — one of the first trials to resume before an in-person jury last week following the upheaval from coronavirus.

On Tuesday the agency said it had not gathered sufficient evidence to secure a realistic prospect of conviction, one of the tests it uses when deciding whether to prosecute.

The full original article can be found at ft.com


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