Sweett (CSG) slumped 26 per cent as allegations of past wrongdoing came back to haunt it. An update issued by the property and infrastructure consultant in January suggested accusations of “improper business conduct” by a former employee, which came to light in a Wall Street Journal article last June, had been laid to rest. Sweett said that an independent investigation had ended with the directors concluding that the allegations were not proven.
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But Sweett now says that there have been further discussions with the Serious Fraud Office and US Department of Justice, another independent investigation has been launched and “material instances of deception” may have occurred between 2009 and 2011.
