Probes into Rolls-Royce and Glaxo are dropped

THE Serious Fraud Office has closed its investigations into Rolls-Royce and GlaxoSmithKline.

Its probe into bribery and corruption at Rolls saw the engine maker enter into a deferred prosecution agreement in 2017, when the firm agreed to pay a near £500m sanction.

The fraud squad said yesterday that following further investigation, a detailed review of the available evidence and an assessment of the public interest, there would be “no prosecution of individuals associated with the company”.

In Glaxo’s case, the Serious Fraud Office’s 2014 investigation focused on commercial practices by the company, its subsidiaries and associated persons.

It again decided that on the evidence and an assessment of the public interest, there would be no prosecution in the case.

Serious Fraud Office director Lisa Osofsky said: “After an extensive and careful examination I have concluded that there is either insufficient evidence to provide a realistic prospect of conviction or it is not in the public interest to bring a prosecution in these cases.

“In the Rolls-Royce case, the SFO investigation led to the company taking responsibility for corrupt conduct spanning three decades, seven jurisdictions and three businesses, for which it paid a fine of £497.25m.

“I am thankful for the work of colleagues and the assistance of domestic and international partners.”