Oral Answers to Questions Debate
Full Debate: Read Full DebateDepartment: Department for Digital, Culture, Media & Sport
Feryal Clark
Main Page: Feryal Clark (Labour - Enfield North)Department Debates - View all Feryal Clark's debates with the Department for Digital, Culture, Media & Sport
(2 years, 6 months ago)
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Feryal Clark (Enfield North) (Lab)
Since 2016, the Serious Fraud Office has convicted just five fraudulent companies, but it has negotiated deferred prosecution settlements with another 11. Does the Solicitor General share my concern that when the SFO detects corporate fraud, its instinct is to negotiate instead of prosecuting and convicting those responsible?
The Solicitor General
The hon. Lady is right that it is always important to be vigilant about the point she raises, but I would make two points. First, in looking at the deferred prosecution agreements, we should just consider what has been achieved over the past five years: £1.3 billion has been taken off companies that have acted in a fraudulent way, in agreements sanctioned by the courts. As I have indicated, this year there will be seven trials in respect of 20 defendants on 80 counts, in respect of fraud worth more than £500 million. It is good news that just this week, Glencore has indicated that it will plead guilty to serious fraud, and it will be sentenced accordingly.