A few months ago, Rolls Royce said its sales team may have gotten a bit too enthusiastic in sealing deals in Indonesia and China. Reuters reported at the time:
Aerospace and defence group Rolls-Royce (RR.L) may face prosecution after Britain’s Serious Fraud Office (SFO) ordered it to hand over details of possible bribery and corruption in China and elsewhere, the company said on Thursday.
The world’s second-largest maker of aircraft engines said the SFO had asked it to conduct an internal inquiry into dealings involving intermediaries in China, Indonesia and other overseas markets, which it did not name, and report the results.
“It is too early to predict the outcomes, but these could include the prosecution of individuals and of the company. We will cooperate fully,” Chief Executive John Rishton said.
This story doesn’t mention it, but Rolls Royce has also sent equipment to Venezuela, via some unusual intermediaries. Here’s an article in Spanish. It would be interesting to know why exactly Rolls was willing to sell turbines to middle-men rather than selling for possibly twice as much money directly to PDVSA.