SFO takes tough line on bribery by foreign companies Photo: REUTERS
A business tycoon “desperate” to secure a £90million printing contract paid
for the son of a Vietnamese bank governor to attend a British university to "curry
favour", a court has heard.
Bill Lowther, 73, is accused of paying £18,000 in tuition fees and thousands
of pounds more for student accommodation for the son of a Vietnamese bank
governor to attend Durham University.
He was “so desperate” to secure the lucrative business contract with the bank
he personally drove student Le Duc Thuy to his MBA interview, the court
heard.
The interview, which was with a long-standing associate of Mr Lowther,
resulted in an offer of a university place in 2003, the court heard.
Southwark Crown Court heard 29 Vietnamese contracts had been awarded to
banknote printing firm Securency between 2002 and 2008.
Mr Lowther, from Carlisle, has pleaded not guilty to a single count of
conspiracy to corrupt between January 1 and December 31, 2003, and is now on
trial.
Richard Jory, prosecuting, told the court Mr Lowther had been the driving
force behind the creation of Securency, a company which had run into
financial difficulties.
“Securency wished to curry favour with the governor of the State Bank of
Vietnam by rewarding him for having given them contracts to supply banknotes
to Vietnam," he said.
“In order to curry favour, the defendant and others based in the UK,
Australia, and Vietnam devised a plan to secure and finance a place on an
MBA course at Durham Business School.
“For the governor himself, having a place for his son on this prestigious
course at Durham with fees and accommodation paid was of significant value
and the conspirators knew this.
“They also had a great deal to gain by helping the governor in this way.”
Mr Jory added the company had needed to “start turning a profit to pay its
creditors and pay back loans”, with Vietnam providing the opportunity.
It was to “prove a turning point in Securency's history in terms of trading
and profitability”, he said.
“When Minh arrived in the UK, the defendant personally drove him to the
interview and provided him with accommodation," said Mr Jory.
“The interview was with a long-standing associate of this defendant, Dr Alan
Jessop, the full-time director of the MBA course at Durham University.
“Once the offer to attend the course was made to Minh, the defendant and his
co-conspirators agreed for payment of the course fees and accommodation
expenses.”
Mr Lowther is said to have paid £18,000 for fees and a further £3,400 for
accommodation in 2003.
Mr Jory said Mr Lowther had taken steps to hide the payments from the
university, arranging them to be placed by a businesses associate.
“His attempt to disguise the payment to the university is in fact the most
compelling evidence of corruption, and that those involved knew it was
corrupt,” he said.
Harvard-educated Mr Lowther has racked up a string of honours during a career
spanning four decades, including an OBE, CBE and honorary knighthood from
the King of Belgium.
He started his career in 1970 with manufacturing firm OPP and eventually
became UK managing director.
In 1990, Mr Lowther became director general of worldwide operations, with
responsibility for 2,900 employees and a turnover of £424 million.
He took semi-retirement in 2002, but remained as director of the firm until he
resigned in October last year, shortly after he was charged with the Serious
Fraud Office.
There is no suggestion Dr Alan Jessop was in any way accused of or complicit
in any crime.
The trial continues.
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