What is the Serious Fraud Office investigating?
The SFO, aided by the MoD police fraud squad, is investigating a worldwide system of offshore secret payments by BAE Systems. The money was allegedly channelled through a company codenamed “Red Diamond”. The sums involved may total as much as £1bn. The inquiry began in 2004, when documents from a company of travel agents suggested BAE was running a £60m slush fund to bribe Saudi generals. But the inquiry has since spread much wider.
