By Mark Watts and Andrew Bousfield | 15 May 2012
Exaro today publishes details of secret payments linked to a Saudi defence deal that went to two offshore accounts. Our exposure of the payments revives allegations of massive bribes to secure defence sales to Saudi Arabia.
GPT Special Project Management, a British subsidiary of EADS, Europe’s biggest defence company, is the prime contractor to supply high-tech communications equipment to the Saudi Arabian national guard in a 10-year programme reportedly worth £2 billion.
A financial officer working at GPT Special Project Management compiled the schedule of payments, valued in Saudi riyals, pounds sterling and euros.
The first section of the schedule, drawn from invoices and bank documents, shows payments made by GPT Special Project Management – between July 10, 2007 and April 24, 2009 – to Simec International, a company in the Cayman Islands.
The second and third sections of the schedule shows further payments between the same companies, drawn in all but two cases from bank documents, on December 9, 2009 and July 4, 2010.
This brings the total paid to Simec International, to just under £14.4 million.
The fourth section shows a single payment of just under £141,000, again based solely on bank records, by GPT Special Project Management on July 4, 2010 to Duranton International, another company in the Cayman Islands. Simec International and Duranton International, both registered in the Cayman Islands, are not to be confused with companies of the same or similar names registered elsewhere.
The payments shown in the first two sections pre-date the time when another executive at the company reported his concerns to officials working for the UK Ministry of Defence about the transfers. The third and fourth sections post-date that report.
Click on the link below to download the full document. Exaro has slightly edited the schedule for legal reasons and for clarity.
Meanwhile, Exaro also today reveals a letter that Richard Alderman wrote in January, as director of the Serious Fraud Office, to Ian Foxley, a former GPT executive who reported “irregular” payments linked to the Saudi deal.
Source documents and file downloads are no longer available.