The Serious Fraud Office have widened their inquiry into the affairs of British engineering giant Rolls-Royce, who is under investigation for using bribery to win contracts overseas.
The SFO are investigating suspicions that the company placed bribes through Monaco-based oil and gas firm, Unaoil, who stand accused of facilitating overseas contracts for dozens of multinational companies.
The SFO released a statement earlier this year called for information relating to the allegations, after the arrest of a Unaoil businessman at a British airport in March.
Court documents filed at a London high court suggest the businessman was found in possession of the two cheques worth £950,000 and £925,000, allegedly from Unaoil and made payable to a Iraqi agent.
“The SFO is conducting a criminal investigation into the activities of Unaoil, its officers, its employees and its agents in connection with suspected offences of bribery, corruption and money laundering,” it said in a statement on its website.
Unaoil were implicated in a widespread corruption scandal in Australia earlier this year by Australian media outlet Fairfax Media. Australian journalists working for the group said Unaoil had been involved in widespread corruption in the oil industry across Iraq, Iran and Libya.
According to the paper’s reports, Unaoil bribed government officials on behalf of international clients in order to help them obtain significant government contracts in the regions.
Unaoil have vehemently denied the claims, announcing plans to sue Fairfax Media in a statement earlier this year:
“Unaoil has instructed its lawyers to commence legal action against Fairfax Media and its partners in relation to the malicious and damaging allegations negligently published by these media organisations and repeated by other media organisations globally.
“In the months following the publication of sensationalist allegations against Unaoil by Fairfax Media and its partners, Unaoil, its directors as well as its staff, have sustained unprecedented reputational and financial damage.
“Unaoil estimates its damages to be over $100m and intends to hold Fairfax Media and its partners to account for their irresponsible and injurious reporting.”
According to The Guardian, Rolls-Royce, Petrofac and Halliburton are just some of the multinational companies who allegedly hired Unaoil to secure contracts abroad. The SFO’s original investigation into Rolls-Royce began over its business dealings with Iraq in 2005.
Rolls-Royce (LON:RR) shares are currently down 0.89 percent at 666.50 (1508GMT).