Two men have been sentenced for bribery offences relating to a prime commercial property development in London.

Stephen Banks, former managing director of fit-out firm Skansen Interiors Limited, gave Graham Deakin, of real estate company DTZ Ltd, £10,000 and promised him a further £29,000 in return for confidential information in 2012 and 2013. Both Mr Banks and Mr Deakin pleaded guilty to bribery at an earlier hearing.

It is understood Mr Banks intended to use information to help Skansen Interiors Limited gain contracts through DTZ. Skansen eventually won contracts worth more than £6 million.

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At Southwark Crown Court on Wednesday, Mr Banks was sentenced to 12 months’ imprisonment and was disqualified as a director for six years, while Mr Deakin was sentenced to 20 months’ imprisonment and was disqualified as a director for seven years.

In addition, Mr Deaken was also ordered to pay £10,697 within three months or face a further seven months in prison.

Skansen Interiors had previously been convicted of failing to have in place adequate procedures to prevent bribery.

Anne Louise McCusker, from the Crown Prosecution Service, said: "Banks and Deakin worked together in their criminal scheme to promote the commercial interests of Skansen Interiors Limited over other companies who tendered for contracts in good faith.

"Only when a new managing director took over at Skansen Interiors Limited was the criminal conduct discovered and reported to police.

"This criminal conduct is corrosive to commerce and undermines the economic interests of the City of London and the United Kingdom as a whole."

(LM/MH)