United Kingdom: Miner’s Strife Over SFO `Dawn Raids’ Laid Bare by London Judge
Author(s): Suzi Ring | Date: May 10, 2017 | Language: English
Source: https://www.bloomberg.com/ | URL: https://goo.gl/7jOMtv | Type: Text
Anxiety was on the rise at Eurasian Natural Resources Corp. in early 2011 after media allegations of corruption and a whistle-blower complaint prompted fears of an imminent visit by the U.K.’s Serious Fraud Office.
“I predict a sh!tstorm and a SFO dawn raid in London before summer’s over,” the head of compliance wrote in an internal email in April of that year. Executives went so far as to plan a mock raid in preparation for the real thing.
While that raid didn’t come, the mining company spent much of the next two years conducting internal probes at the behest of the SFO, agreeing to report any wrongdoing it discovered. By April 2013, after 30 meetings with ENRC representatives, the SFO lost patience and opened a criminal probe which is still underway.