United Kingdom: SFO Seeks Files From SocGen Over Libya Bribery Allegations

Author(s): Patrick Gower, Suzi Ring | Date: May 15, 2017 | Language: English
Source: https://www.bloomberg.com/ | URL: https://goo.gl/EWBd4z | Type: Text

The U.K. Serious Fraud Office sought documents from Societe Generale SA amid probes into a dispute between the French bank and the Libyan Investment Authority, days after the lender agreed to pay 963 million euros ($1.06 billion) to resolve a related civil-bribery lawsuit.
Lawyers for the LIA and the bank disagreed on why the prosecutor wants the paperwork, with an attorney for the Libyans saying the SFO was conducting a probe into Societe Generale. The bank’s attorney said the document request was made on behalf of U.S. investigators.
The U.K. prosecutor was working on behalf of the U.S. Justice Department, the bank’s lawyer, Sandy Phipps, told the court. “It is not the case” the bank is under investigation by the SFO.