Former Petrofac executives pleads guilty to fraud

Former Petrofac executives pleads guilty to fraud

London-based Petrofac Plc, said a former employee of its subsidiary yesterday admitted bribery under the UK Bribery Act 2010.

The company said in a statement that that no charges have been brought against any Group company or any other officers or employees. Although not charged, a number of Petrofac individuals and entities are alleged to have acted together with the individual concerned.

“No current Board member of Petrofac Limited is alleged to have been involved.

René Médori, Chairman of Petrofac, said:

“The SFO has chosen to bring charges against a former employee of a subsidiary company. It has deliberately not chosen to charge any Group company or any other officer or employee. In the absence of any charge or credible evidence, Petrofac intends as a matter of policy to stand by its employees.”

“Petrofac has policies and procedures in place designed to ensure that we operate at the highest levels of compliance and ethics.”