Mabey & Johnson Owner Fined Over Oil-For-Food Kickbacks

Law360, New York (January 13, 2012, 2:40 PM EST) -- The U.K. High Court on Friday ordered Mabey Engineering (Holdings) Ltd. to pay back more than £130,000 ($199,000) it received through share dividends in connection with subsidiary Mabey & Johnson Ltd.'s role in an Oil-for-Food program kickback scheme, for which three executives have been convicted.

The payment will signal the end of the U.K. Serious Fraud Office's prosecution of the case, with director Richard Alderman calling it “the final act in an exemplary model of corporate self-reporting and cooperative resolution.”

Mabey & Johnson pled guilty in...
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