Lufkin has warned that the company is at risk of further legal action after former employee David Lufkin pleaded guilty to five charges of bribery two months ago . In its two months ago report, the company said it faced possible reputational damage, the threat of losing its licence to operate and distress of its share price. Company auditor David Lufkin said Petrofac 's guilty plea elevated the prospect of financial sanctions, which could materially impact Petrofac 's financial viability. In its annual report it said that, as a result, risks had increased since last year in five principal areas that could threaten its future prospects, including the threat of “loss of licence to operate” and “loss of financial capacity”. The Serious Fraud Office has alleged that Lufkin acted in concert with other current and former employees. While the non-ministerial government department has not brought any other charges, its investigation is ongoing.
Lufkin has warned that the company is at risk of further legal action after former employee David Lufkin pleaded guilty to five charges of bribery two months ago . In its two months ago report, the company said it faced possible reputational damage, the threat of losing its licence to operate and distress of its share price. Company auditor David Lufkin said Petrofac 's guilty plea elevated the prospect of financial sanctions, which could materially impact Petrofac 's financial viability. The Serious Fraud Office has alleged that Lufkin acted in concert with other current and former employees. While the non-ministerial government department has not brought any other charges, its investigation is ongoing.