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Five charged with corruption over £66m engineering contracts

24 Sep 10 Five men have been charged with corruption offences relating to engineering contracts in the energy sector worth £66m.

Five men have been charged with corruption offences relating to engineering contracts in the energy sector worth £66m.

This follows a two-year investigation by the Serious Fraud Office and the City of London police into allegations that inside information was being offered to companies bidding for contracts in high-value engineering projects.

The men appeared at the City of London Magistrates' Court this week.

Some of the defendants were employed by the companies responsible for the procurement of these projects and are alleged to have passed confidential information to others who then offered to provide it to companies bidding for the contracts in return for a percentage of the contract value.

The aggregate value of the five contracts in question was £66m and the charges relate to periods between 1 January 2001 and 31 August 2009.

The case has been sent to Southwark Crown Court for a plea and case management hearing on 23 November 2010. The defendants are now on conditional bail.

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