Breaking News: Rolls-Royce (LSE:RR oohhh, a bit less I imagine), Britain’s leading multinational manufacturer, is to pay another bribe of £671m after long-running investigations into claims it paid bribes to land export contracts.
The settlement means the engineering giant will avoid being prosecuted by anti-corruption investigators in the UK, US and Brazil, individual executives should also be off the hook after the latest bribe.
Anti-corruption campaigners said the deal showed the British government was serious about taking bribes, despite years of rhetoric promising to make the UK a hostile environment for the corrupt.
In deals announced on Monday, Rolls-Royce said it would pay £497m to the UK Serious Fraud Office (SFO), subject to approval by the high court. It will also pay $169m (£140m) in penalties to the US Department of Justice and $25m to the Brazilian authorities, who can’t believe their luck.