Petrofac has warned that the company is at risk of further legal action after former employee David Lufkin pleaded guilty to 11 charges of bribery two months ago . In its annual report , the company said it faced possible reputational damage , the threat of losing its licence to competitors and loss of its share capital . Subscribe now and get unlimited digital access on web and our smartphone and tablet apps, free for your first month. Company auditor EY said Lufkin 's guilty plea elevated the risk of financial sanctions , which could materially affect Petrofac 's financial viability . The UK 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 .
Petrofac has warned that the company is at risk of further legal action after former employee David Lufkin pleaded guilty to 11 charges of bribery two months ago . In its annual report , the company said it faced possible reputational damage , the threat of losing its licence to competitors and loss of its share capital . Company auditor EY said Lufkin 's guilty plea elevated the risk of financial sanctions , which could materially affect Petrofac 's financial viability . The UK 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 .