Firm to pay £5m in corruption probe

AOL Money Staff
Crown Office
Crown Office

A British drilling company is to pay out more than £5 million under proceeds of crime laws after it accepted it had benefited from "unlawful conduct", prosecutors have revealed.

Aberdeen-based Abbot Group Limited admitted it benefited from corrupt payments made in relation to a contract entered into by one of its overseas subsidiaries and an overseas oil and gas company, the Crown Office said. The contract was entered into in 2006 and the payments were made in 2007.