The British engineering giant has been accused of handing out multibillion-dollar bribes and kickbacks to the state owned oil producer, Petrobras. Rolls-Royce supplies gas turbines for Petrobras oil platforms.Rolls Royce allegedly paid bribes in exchange for a $100million contract. Former Petrobras executive, Pedro Barusco is cooperating with Brazilian authorities on the matter. He alleges he personally received $200,000 from the British engineering giant.
Mr. Barusco also claims that a collective of politicians and high ranking executives at the oil giant received bribes.
A spokesman for Rolls-Royce has stated that: “We have always been clear that we will not tolerate improper business conduct of any sort and will take all necessary action to ensure compliance, including co-operating with authorities in any country.”
This is not the first time the company has been involved in a bribery and corruption scandal. It was purported in 1990 that Tommy Suharto, son of Indonesia’s former president was given $20 million and a Rolls- Royce car to persuade Garuda airline to buy Trent 700 engines. Lawyers representing Suharto stated at the time: “He [Suharto] did not, and has never, received monies or a car from Rolls-Royce and nor did he recommend their engines to Garuda, as alleged.”
In response to the claim Rolls- Royce set up a whistle-blower hotline in order for staff to report any concerns that may have around bribery and corruption. At the start of 2013 the company had also hired the services of Lord Gold to inquire about their global anti-corruption compliance policies.
Around the world companies are looking at ways of reducing the prevalence of bribery and corruption in business dealings through increasingly serious laws and regulations.
GRC Solutions provides online compliance training course in anti-bribery and corruption online compliance training courses. As well off the shelf training we also offer Bespoke and Custom courses to suit client’s needs.
Source: Daily Mail Australia and The Guardian.