Nicholas Reynolds has received a sentence of four years and six months in prison for his part in a conspiracy to bribe officials in Lithuania’s Elektrenai Power Station and senior Lithuanian politicians in order to win two contracts worth €240 million. Reynolds was also ordered to pay costs of £50,000.
In sentencing the former global sales director for Alstom Power Ltd’s Boiler Retrofits Unit, His Honour Justice Beddoe said: “This was sophisticated corruption, planned and executed under your direction over many years. This was a very serious example of the bribery and corruption that beleaguers the civilised commercial world and is a cancer upon it. Even if you do not create the disease, but help it to spread, you bear a very heavy responsibility. The more senior your position, the more serious it obviously is.”
Lisa Osofsky, director of the Serious Fraud Office, said: “The substantial prison sentences imposed in this case reflect the seriousness of the bribery and corruption. We can only hope that this may deter others tempted to resort to illicit means to win contracts. We are grateful for the assistance provided by our international partners across more than 30 countries for helping us deliver these results.”
Reynolds’ sentencing follows the conviction and sentencing of Alstom Power Ltd, its former business development manager John Venskus and Göran Wikström (former regional sales director at Alstom Power Sweden AB) for their part in the conspiracy.
On 4 May last year, John Venskus was sentenced to three years and six months in jail. Göran Wikström was sentenced to two years and seven months imprisonment last July and was also ordered to pay £40,000 in costs.
Alstom Power Ltd was ordered to pay a total of £18,038,000 which included a fine of £6,375,000, compensation to the Lithuanian Government of £10,963,000 and prosecution costs of £700,000.