The former CEO and former chief operations officer of Monaco-based Unaoil pleaded guilty in March to arranging millions in bribes to officials in at least ten countries, and a former Unaoil business development director pleaded guilty in August last year, the DOJ said Wednesday.… Continue Reading
The law firm at the center of the Panama Papers leak may have helped facilitate an alleged multi-million corruption scheme tied to Sonatrach contracts won by Saipem.
The International Consortium of Investigative Journalists said Mossack Fonesca helped Farid Bedjaoui create a Swiss bank account that was used to purchase “shelf” companies in the Caribbean.
Italian prosecutors allege that Bedjaoui, the nephew of a former Algerian foreign minister, orchestrated about $275 million in bribe payments to help Saipem win $10 billion worth of pipeline contracts from Algeria’s national energy company, Sonatrach, the New York Times said.
Shell companies purchased through the Swiss account were allegedly used to divert graft payments to other parties including payments to family members and associates of former Algerian energy minister Chekib Khelil, the ICIJ said.
Bedjaoui has been dubbed “Mr.… Continue Reading
An Algeria criminal court sentenced six people to jail and sanctioned two companies for corruption connected to contracts with state-owned energy firm Sonatrach.… Continue Reading
A judge in Milan ordered Italian oil and gas services firm Saipem to go on trial for alleged bribery in Algeria.… Continue Reading
Two senior managers of the China Roads and Bridge Construction Company were arrested in Kenya for allegedly giving bribes to highway authority officials to cover up the use of overloaded trucks.… Continue Reading
An Algerian court Thursday jailed 14 people and fined seven foreign companies after they were found guilty of corruption, money laundering, and embezzling public funds in a huge highway construction project.… Continue Reading
A corruption trial involving former executives at Algeria’s state-owned oil company Sonatrach was adjourned Sunday shortly after it began when witnesses failed to appear.… Continue Reading
The U.S. Treasury Department’s Financial Crimes Enforcement Network sets risk-based compliance obligations of U.S.… Continue Reading
The CEO of Italian energy giant Eni, Paolo Scaroni, was sentenced to three years in prison Monday over inadequate environmental standards at a power plant when he was CEO at Italian utility Enel.… Continue Reading