12/12/2013 15:40 GMT | Updated 12/12/2013 15:44 GMT

Collapse Of Alcoa Bribery Case Damages UK Anti-Fraud Agency

Victor Dahdaleh arrives at Southwark Crown Court, London, after being charged in connection with an alleged £700million bribery scandal.

In what was to be a key test of prosecutors’ vigor and effectiveness, one of Britain’s largest corruption prosecutions went down in flames on Tuesday, marking yet another reversal for the beleaguered Serious Fraud Office in London.

A month after the trial began, the economic crimes agency told a judge at Southwark Crown Court that it could offer no evidence against the Anglo-Canadian billionaire Victor P.M. Dahdaleh, who had been charged with funneling tens of millions of dollars in bribes to officials in Bahrain between 2001 and 2006.