The French-based defense firm Thales is facing an investigation by French and British authorities over claims of bribery and corruption.
Investigation Announcement
Britain's Serious Fraud Office announced Thursday that it is collaborating with France's Parquet National Financier on a joint investigation of Thales, expressing hope that the effort will strengthen their partnership in combating international corruption.
"The Serious Fraud Office (SFO) has launched an investigation into suspected bribery and corruption at multi-national aviation and defence electronics group Thales," Britain's Serious Fraud Office said in the announcement. "The Thales Group is headquartered in Paris and its subsidiary Thales UK employs over 7,000 staff in the UK across 16 sites."
In the announcement, Nick Ephgrave, the director of Britain's Serious Fraud Office, said, "Working collaboratively with our international partners is a crucial factor in the fight against international corruption and with this case I hope to reinforce the SFO and PNF's long-standing relationship, built on mutual cooperation and shared success."
"We will together rigorously pursue every avenue in our investigation into these serious allegations," Ephgrave added.
What Is the Investigation?
The Serious Fraud Office did not disclose specific allegations but media reports indicate that authorities in France, the Netherlands and Spain conducted raids on the company's offices in June as part of a corruption investigation tied to international arms sales.
In a statement to Newsweek on Thursday, a spokesperson for Thales said, "Thales confirms that the PNF and the SFO have commenced an investigation in relation to four of its entities in France and the UK."
"Thales is cooperating with the PNF in France and the SFO in the UK. The Group complies with all national and international regulations. As the investigation is on-going, Thales will not comment further," the statement added.
What Is Thales?
Thales is a major defense contractor that has played a critical role in supplying equipment to aid Ukraine in its resistance against Russia's full-scale invasion, which began in February 2022.
Earlier this month, Reuters reported that Thales told investors to expect profits as countries across the globe continue to spend money on arms.
"It is evident that the world has entered a cycle of higher investments in defence," Thales CEO Patrice Caine said, according to Reuters. "If Europe wants to take a bigger role in (defence), it is more of an advantage than a risk for Thales...it is unlikely the (security) risks are going to be lower tomorrow."
This article includes reporting from The Associated Press.
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