Member Info for Snapper10

Evanspent
It states it "clearly" in the website as the "Case" "Petrofac".........
According to Petrofac they were never under investigation it was individuals who had left Petrofac..........Hence being fined is rather strange is it not for something you did not do???????
Wheres the statement saying the case is closed from SFO ??????????.............
Some people just can't face Reality......
Lets see if the SFO remove Statement that the case into"Petrofac is concluded" shall we???????
Otherwise its still ongoing ..........
Thats my understanding of English..............
As I said previously information that is false or misleading, may constitute market abuse someone is misleading someone are they not????????

Its not me singing........
Its David Lufkin and its painful to Petrofac is it not.........????????
The case continues and the pain will get worse methinks............
Maybe someone at PFC Investor Relations should speak to a lawyer as Posting inside information that is not public knowledge, or information that is false or misleading, may constitute market abuse. This could lead to an unlimited fine and up to seven years in prison. If you have any information, concerns or queries about market abuse.................
Because somebody is misleading someone?????????

Thats what PFC have said all along "its not us its somebody else"........!!!!!!!!!! "Nobody works for Petrofac"
If they did not work for Petrofac then why were Petrofac Fined and not David Lufkin????????
And its not what the SFO say in there website IS IT?????????
So someone is telling Porkies are they not..........?????????
Who would YOU believe a convicted crooked organisation or a Law enforcement Agency........
Wheres the response from the SFO .................?????????
The case continues until the Fat Lady sings methinks............

I actually typed" the" case....
Which is very misleading I will admit however the SFO site states "This" case and therefore there is no ambiguity.........
Petrofac could not lie straight in bed they have prior history
This will not be concluded otherwise there would have been a DPA its a conviction that was obtained by the SFO and you can imagine that Lufkin is now sitting comfortably spilling everything..........
When the SFO closes this case I would imagine they will state that clearly otherwise??????????

https://www.sfo.gov.uk/2021/10/04/serious-fraud-office-secures-third-set-of-petrofac-bribery-convictions/
This does not mention Unaoil it clearly states Petrofac.......Who would you believe a company convicted of Fraud or a body controlled by regulations and statute.......
"By pleading guilty, Petrofac Ltd has accepted that senior executives within the Petrofac group acted deliberately and without conscience in the pursuit of greed," commented Lisa Osofsky, an SFO director. "The company's failure to prevent this conduct distorted competitive market conditions and tainted the oil and gas industry."

"The SFO noted this was the third set of convictions secured by the SFO in its four-year investigation of Petrofac. It said it continues to investigate the case".

No it continuing into PFC..........
So the SFO are now going to tell lies they claim to have 3 successful prosecutions against PFC............
Why would the SFO print something that they could be sued for........
See what the half year results say..........
The Saga rumbles on and on...........

UPDATE: UK SFO says bribery probe continues after Petrofac fine

Tue, 5th Oct 2021 06:59
(Alliance News) - Petrofac Ltd on Monday was fined GBP77 million by the UK Serious Fraud Office and Southwark Crown Court for seven bribery offences, to which the Jersey-based provider of services to oil and gas industry had pleaded guilty last month.

The penalty consists of a confiscation order of GBP22.8 million, due at the start of January, plus a fine of GBP47.2 million and the SFO's costs of GBP7 million, both due in mid-February.

The bribes were paid or offered by Petrofac employees to buying agents as part of project bids from 2012 to 2015. "Over a period of six years, senior executives within the Petrofac group engaged in elaborate schemes to corrupt the awarding of contracts, using agents to systematically bribe officials to win lucrative contracts by unfair and dishonest means," the SFO said.

Petrofac noted that all the employees involved now have left the company.

"By pleading guilty, Petrofac Ltd has accepted that senior executives within the Petrofac group acted deliberately and without conscience in the pursuit of greed," commented Lisa Osofsky, an SFO director. "The company's failure to prevent this conduct distorted competitive market conditions and tainted the oil and gas industry."

The SFO noted this was the third set of convictions secured by the SFO in its four-year investigation of Petrofac. "It said it continues to investigate the case."..............................

UPDATE: UK SFO says bribery probe continues after Petrofac fine

From todays RNS the 5th October 2021 - The Serious Fraud Office's investigation into the Company continues.
please keep up.........

If the case is continuing how will that improve PFC getting on Bid lists,Do you think ethical companies see a plead of Guilty as a excuse to do business ."PFC is a different company" with the same major shareholder..........
The SFO have stated the Investigation continues,It means more uncertainty and it defiantly does not mean this is finished,more like its just starting...........

https://www.sfo.gov.uk/2021/10/04/serious-fraud-office-secures-third-set-of-petrofac-bribery-convictions/

"By pleading guilty, Petrofac Ltd has accepted that senior executives within the Petrofac group acted deliberately and without conscience in the pursuit of greed," commented Lisa Osofsky, an SFO director. "The company's failure to prevent this conduct distorted competitive market conditions and tainted the oil and gas industry."

"The SFO noted this was the third set of convictions secured by the SFO in its four-year investigation of Petrofac. It said it continues to investigate the case".
No change there then..........

Stringvest12
Aye Right and that is going to happen.
"You can put lipstick on a pig when you wake up its still a pig........"

Good post JG68
Can I politely respond please......
In my view to appease shareholders I would not be holding out till the last date of Filling for obvious reasons.I would be trying to get a positive message out if I had one?
Part2
"the Board is not able to comment on the status as the could prejudice the ongoing investigation."
In the rose coloured world of Pokerships and worcraps PFC are not under investigation does this not contradict that view?
By saying nothing it does not ease the situation on winning new business does it.?
We will wait till end of October for a official announcement but at least its something........

Petrofac Limited
RESULTS FOR THE YEAR ENDED 31 DECEMBER 2020
Petrofac Limited ( PFC)
Petrofac Limited: RESULTS FOR THE YEAR ENDED 31 DECEMBER 2020
Surely it'd not beyond the wit of man to issue a 6 month update...... PFC have had 3 months to pull the numbers or is it because its not looking good........

Sorry Its worst the court calendar goes to 5 Sep 2022.......my mistake.
12 months of nothing????????????

worcraps
https://www.sfo.gov.uk/court-calendar/
Its as per the published Court calendar on the SFO
No I don't lie didums, until at the earliest date of the 21March 2022..... it continues..........
Start to take this serious please the PFC investigation continues under investigation..... and you and pokerships can continue to prevaricate and spin as much as you like the SFO goes on until we are told otherwise by someone...........
"The SFO’s investigation into the activities of Petrofac, its officers, employees and agents for suspected bribery, corruption and money laundering continues." according to SFO website..... and yes it could mean further developments which could reduce OR expand the investigation??????

bolland07
SFO don't have anything in the Court calendar for PFC/David Lufkin Before 21March 2022....."The SFO’s investigation into the activities of Petrofac, its officers, employees and agents for suspected bribery, corruption and money laundering continues." according to SFO website,
Lufkin has pled Guilty and I do not see him being sentenced until "All" the others being investigated are either cleared or charged,At that point I would expect sentencing to take place,I don't know when that will be only the SFO can answer this....
And as everyone knows depending on how someone pleads sentencing can reflect this.
In my opinion thats a long way off and I feel the longer it goes on and the Impact on PFC to win any new sizeable contracts therefore diminishes as the people who are being investigated surely are among existing or past senior management in PFC as stated previously its in there interest to cooperate and therefore speed up the process.
Until this happens PFC will not go anywhere any blind man can see that.

Wheres the Half Year results??????
were they not due today?

debby69
NOTE pfc have not been charged with anything !!!!!!!

Until a investigation is complete the SFO then bring charges......... its ongoing
and David Lufkin has pled guilty...... was he not employed by Petrofac????????

Warthog4
At least somebody is seeing the real picture.
If PFC wanted to close this they could have if they had supported David Lufkin and sorted this out.
Instead its cost them and the PFC shareholders to date 90% of the shares value.
I have stated the SFO are in the driving seat and will continue to along as the "Guilty Plea' is in play and there investigation will continue and grow arms and legs........
Its not Rocket Science and the market can see that too.......