US probes UK offshore firms

| 01/06/2009

(FT.Com): British-linked businesses are the prime foreign targets of US corporate bribery probes, according to research published on Monday that highlights how UK companies and executives are being caught up in Washington’s purge on international corporate corruption. Companies based in the UK, Bermuda and the Cayman Islands account for 16 of the 29 ongoing investigations in Washington’s fast-expanding assault on graft by overseas companies, says law firm Freshfields Bruckhaus Deringer. The cases are likely to add to international pressure on Britain to mount corruption prosecutions of its own after its much-criticised scrapping of a probe into BAE Systems’ Saudi Arabian arms deals.

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