A litigator's quiz: Second candle of Advent
This week's quiz continues!
3. How much has been payable in financial penalties under the five Deferred Prosecution Agreements negotiated by the Serious Fraud Office to date (excluding costs)?(a) £776.7m
Incorrect.
The correct answer is c.
(b) £751.2m
Incorrect.
The correct answer is c.
(c) £760.6m
Correct!
In November 2015, Standard Bank was ordered to pay financial orders of US$25.2m and compensation of US$7m. At the then prevailing exchange rates, this amounts to £21.5m. In July 2016, Sarclad (then known as XYZ) was ordered to pay financial orders of £6.6m. Sarclad's US parent paid a further £1.9m as a repayment of a proportion of the dividends that it received from the company over the indictment period. This amounts to a total of £8.5m. In January 2017, Rolls-Royce was ordered to pay financial orders of £497.3m. In April 2017, Tesco was ordered to pay financial orders of £129m and compensation of £85m, totalling £214m. In July 2019, Serco was ordered to pay financial orders of £19.2m.
Together, this amounts to £760.6m.