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SFO investigates ABB over Unaoil

Jaclyn Jaeger | February 10, 2017

The U.K. Serious Fraud Office confirmed today that it has commenced an investigation into the activities of ABB’s U.K. subsidiaries, their officers, employees, and agents for suspected offenses of bribery and corruption. 

The SFO said the investigation is related to the SFO’s ongoing investigation into the activities of oil services provider Unaoil.

In its latest quarterly report, ABB said as a result of an internal investigation, it self-reported to the U.S. Securities and Exchange Commission, the U.S. Department of Justice (DoJ), and the SFO “concerning certain of its past dealings with Unaoil and its subsidiaries, including alleged improper payments made by...

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