Three individuals acquitted as SFO confirms DPA with Güralp Systems Ltd
20 December, 2019 | News Releases
Cansun Güralp, Andrew Bell and Natalie Pearce were acquitted of conspiracy to make corrupt payments in relation to payments made to a South Korean public official between 2002 and 2015.
The conclusion of the trial removes reporting restrictions on the Deferred Prosecution Agreement reached by the SFO and Güralp Systems Ltd, which was agreed in October 2019. Güralp Systems Ltd accept the charges of conspiracy to make corrupt payments and a failure to prevent bribery by employees in relation to the payments made between 2002 and 2015.
As a result of this DPA, Güralp Systems Ltd has agreed to pay a total of £2,069,861 for disgorgement of gross profits to the SFO for onward transmission to the Consolidated Fund. The DPA also requires Güralp Systems Ltd to cooperate fully and truthfully with the SFO and to review and maintain its existing internal controls, policies, and procedures regarding compliance with the Bribery Act 2010.
Director of the Serious Fraud Office, Lisa Osofsky, said:
“The Deferred Prosecution Agreement with Güralp Systems Ltd ensures that the company will pay the price for the wrongdoing that occurred under its roof.
The DPA is a result of Güralp Systems Ltd’s timely self-reporting and full cooperation, and holds the company to account whilst also promoting positive changes in corporate culture.”
Güralp Systems Ltd appointed a new Executive Chairman in December 2014, who identified wrongdoing and ordered an internal investigation. Following this internal investigation, Güralp Systems Ltd self-reported to both the SFO and the US Department of Justice on 23 October 2015. The SFO commenced its own independent and comprehensive investigation on 3 December 2015.
Notes to Editors:
- The SFO investigation began on 3 December 2015.
- Cansun Güralp, Andrew Bell and Natalie Pearce were each charged of conspiracy to make corrupt payments, contrary to section 1(1) of the Criminal Law Act 1977.
- Cansun Güralp and Andrew Bell were charged by requisition with conspiracy to make corrupt payments on 26 July 2018. Natalie Pearce was charged with the same offences on 28 September 2018.
- Andrew Bell was acquitted by the jury on 18 December 2019. Cansun Güralp and Natalie Pearce were acquitted on 20 December 2019, following a majority verdict.
- Under the DPA, Güralp Systems Ltd is charged with conspiracy to make corrupt payments, contrary to section 1 of the Criminal Law Act 1971 and failure to prevent bribery by employees, contrary to section 7 of the Bribery Act 2010.
- Counsel for the prosecution:
a) Simon Mayo QC
b) Trevor Archer
c) Greg Unwin
- Counsel for the defence:
a) Counsel for Güralp: Tom Allen QC, Nicola Howard QC
b) Counsel for Pearce: John Ryder QC, Adam Payter
c) Counsel for Bell: Neil Hawes QC, Paul Morgan
- The Deferred Prosecution Agreement, Statement of Facts and full Judgment can be found here.
This press release was amended to reflect the earlier acquittal of Andrew Bell.