UK SFO charges United Insurance Brokers for failing to prevent and detect a $3.2m bribe to Ecuadorian officials, setting precedent for landmark ‘Failure to Prevent’ bribery trial

The case involves UIBL’s role in facilitating bribes paid to Ecuadorian state officials between October 2013 and March 2016. The bribes were allegedly paid by UIBL’s US-based intermediaries in exchange for securing re-insurance contracts worth approximately US $38 million for Ecuadorian state-owned enterprises, including water and electricity companies…