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Barratt Developments

Companies accused of fraud 5

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38 views2 pages

Barratt Developments

Companies accused of fraud 5

Uploaded by

Dana Spencer
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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18/06/2019 Financial Times (UK) | Thursday, October 20, 2016 | 20

Construction

Barratt London chief arrested in


bribery probe
Former staff member also held amid claims over
tender irregularities
JUDITH EVANS

The London chief of Barratt Developments, the UK’s largest housebuilder, has
been arrested on suspicion of bribery offences in an investigation into the
awarding of contracts by the company in the capital.

Alastair Baird, a managing director, was arrested yesterday and has been
suspended from his position at the FTSE 100 group, while a woman, who the
company said was a former employee, has also been arrested.

The detentions form part of an inquiry by the Metropolitan Police’s


Complex Fraud Team into “a number of allegations of corruption . . . related to
irregularities in the tendering process”, the force said.

They follow an internal investigation by Barratt that began in August 2015


and resulted in a referral by the group to police in April.

Yesterday, David Thomas, chief executive of Barratt, said the group would
“continue to co-operate fully with the Metropolitan Police and to conduct our
own investigation into these matters”.

“We will take whatever action is required to ensure our values and
standards are upheld,” he said.

Barratt said the investigation related to “possible misconduct in the process


for awarding and managing certain material and subcontract supply contracts
in the London region”. This also led to a civil legal action, beginning in
October 2015, against an employee who was dismissed in February, the group
added.

Barratt said in an update to the stock market yesterday that it did not expect
“any material adverse financial effect” from the affair. Investors appeared
unconcerned, with the shares rising 2 per cent yesterday.

digital.olivesoftware.com/Olive/APA/FinancialTimesUK/Print.Article.aspx?mode=text&href=FTU%2F2016%2F10%2F20&id=Ar02000 1/2
18/06/2019 Financial Times (UK) | Thursday, October 20, 2016 | 20

Mr Baird, who has worked at Barratt for almost 30 years, will be replaced by
Gary Ennis, regional managing director for the south, on an interim basis. His
role involves running the group’s London business, which amounts to 12 per
cent of its output by number of homes.

Barratt has adopted extra controls over its London tendering and
procurement after a review by external accountants, it said.

It added that procurement in the capital differs from other divisions because
of “the non-standard and one-off nature of London construction projects”.

“We are committed to meeting the highest ethical standards in all aspects of
our business. We have acted decisively, launching our own thorough and
comprehensive investigation and referring the matter to the Metropolitan
Police,” Mr Thomas said.

“I am confident that Gary Ennis and the London board will ensure that
Barratt London continues to deliver successfully, and remains a trusted,
valued partner to its stakeholders.”

The Metropolitan Police said a 52-year-old man was arrested in South


Wales on suspicion of bribery and a 47-year-old woman was arrested on
suspicion of bribery in London. “Investigations are ongoing,” added the police.

digital.olivesoftware.com/Olive/APA/FinancialTimesUK/Print.Article.aspx?mode=text&href=FTU%2F2016%2F10%2F20&id=Ar02000 2/2

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