Glasgow-based Weir Group Plc was fined £3 million and made subject of a confiscation order for £13.9 million under Proceeds of Crime legislation at the High Court in Edinburgh on the 15 December 2010.
The engineering company had pled guilty to paying ‘kickbacks’ in return for contracts from Saddam Hussein’s government.
The court heard that the company paid more than £3m in kickbacks through a Swiss bank account between September 2001 and April 2004, in contravention of UN sanctions against Iraq.
The company had admitted facilitating the payment of kickbacks by paying a fee of more than £1.4 m to their agent, an Iraqi national, to the same Swiss bank account.
The agent made the payments to the Iraqi government on behalf of Weir.
The kickbacks were paid to the Iraqi Government from funds in the UN’s Oil for Food Programme, which should have been used for humanitarian purposes.