Defense powerhouse Thales faces British and French bribery and corruption probe
One of the world’s largest defense firms is being investigated by the UK’s Serious Fraud Office (SFO) and the French financial crime authority Parquet National Financier (PNF).
The Serious Fraud Office and Parquet National Financier confirmed on November 21, 2024, that Thales, a powerhouse within the defense sector, has been informed about the joint investigation.
Director of the SFO, Nick Ephgrave, said: “Working collaboratively with our international partners is a crucial factor in the fight against international corruption and with this case I hope to reinforce the SFO and PNF’s long-standing relationship, built on mutual cooperation and shared success.”
Ephgrave added: “We will together rigorously pursue every avenue in our investigation into these serious allegations.”
ThalesAccording to France24, a search during the summer of Thales’ offices in France, the Netherlands and Spain was linked to suspected corruption involving overseas arms sales.
The Thales Group is headquartered in Paris and its subsidiary, Thales UK, employs over 7,000 staff in the UK across 16 sites.
The Serious Fraud Office and Parquet National Financier are conducting investigations in their respective jurisdictions.
A spokesperson for Thales said: “Thales confirms that the SFO and the PNF have commenced an investigation in relation to four of its entities in France and the UK. Thales is cooperating with the PNF in France and the SFO in the UK. The group complies with all national and international regulations. As the investigation is ongoing, Thales will not comment further.”
Thales is deeply ingrained within the defense, security and aerospace markets with multiple governmental contracts.
According to Companies Market Cap, Thales is the eleventh largest defense contractor in the world.
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One of the world’s largest defense firms is being investigated by the UK’s Serious Fraud Office (SFO) and…
The post Defense powerhouse Thales faces British and French bribery and corruption probe appeared first on AeroTime.
