Defence giant EADS has appointed accountancy firm PwC to launch a parallel investigation to the Serious Fraud Office's (SFO) probe into the group's £2bn with Saudi Arabia, which has been marred with bribery allegations.
According to reports, PwC will be looking at accounts and audits at EADS' subsidiary GPT Special Projects after the SFO opened a criminal investigation into allegations concerning its conduct in Saudi Arabia pivoting around claims it paid bribes running to millions of pounds into a Cayman Islands bank account, as well as bank-rolling fleets of new cars to secure and retain a Saudi military communications project.
A former British Army officer Lt Col Ian Foxley, who was employed by GPT on the £2bn, 10-year communications project in Saudi Arabia, turned 'whistleblower' and made the allegations.
It was reported that the SFO's interest in Lt Foxley's allegations started in 2011 but it only announced that it was launching a criminal investigation earlier this month.
I'm Lianna Brinded. For more Business and Economy news check out our website: ibtimes.co.uk
Written and Presented by Lianna Brinded.