Author: Azizur Rahman 29 July 2022
Reports into the Serious Fraud Office’s (SFO’s) handling of two major cases led Aziz Rahman to write an article about the implications for the agency.
The reports examined the SFO’s Unaoil bribery investigation, in which three of the four defendants have had their convictions quashed, and the failed prosecution of two former Serco executives for fraud.
In his piece, which was published by Fraud Intelligence, Aziz says the criticism in the reports of the SFO’s disclosure failings have left the agency in no doubt that it has to change. He questions whether the lapses of judgement highlighted by the reports may be “the straw that breaks the camel’s back when it comes to Lisa Osofsky’s position as director’’ or prompt genuine structural change at the SFO.
With the Unaoil report focusing on both individual failings and more general cultural issues at the SFO - and including a range of recommendations for change - Aziz believes the agency now has to show it can put right the wrongs. He argues that the Serco investigation report’s identification of what it calls serious systemic failure should compel the SFO to ensure such failings are not repeated.
Aziz concludes by saying that those overseeing the SFO will expect change and assurances that the problems detailed in the reports will not happen again.
Aziz's article can be read on Fraud Intelligence. (Subscription required)
Aziz Rahman is Senior Partner at Rahman Ravelli and its founder. His ability to coordinate national, international and multi-agency defences has led to success in some of the most significant corporate crime cases of this century and top rankings in international legal guides. He is recognised worldwide as one of the most capable legal experts regarding top-level, high-value commercial and financial disputes.