News and commentary about white-collar crime, enforcement, and compliance
Harry Cassin
Publisher and Editor
Andy Spalding
Senior Editor
Jessica Tillipman
Senior Editor
Bill Steinman
Senior Editor
Richard L. Cassin
Editor at Large
Elizabeth K. Spahn
Editor Emeritus
Cody Worthington
Contributing Editor
Julie DiMauro
Contributing Editor
Thomas Fox
Contributing Editor
Marc Alain Bohn
Contributing Editor
Bill Waite
Contributing Editor
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
The SFO’s investigation into the activities of Petrofac drew to a close on October 4, 2021. Following its guilty pleas, the company was sentenced for seven counts of failing to prevent bribery between 2011 and 2017.… Continue Reading
Petrofac Ltd, a British oilfield services provider, agreed Monday to pay the UK Serious Fraud Office £77 million ($104.6 million) in penalties for Bribery Act offenses in Iraq, Saudi Arabia, and the United Arab Emirates.… Continue Reading
Last week the DOJ revealed guilty pleas by the two Ahsani brothers who were running Monaco-based intermediary Unaoil. The brothers copped to a ten-country bribery conspiracy intended to help “multiple companies” win oil and gas-related contracts.… Continue Reading
The former global head of sales for Petrofac International Limited pleaded guilty Wednesday to UK Bribery Act violations related to over $50 million in bribes involving projects in Iraq and Saudi Arabia. … Continue Reading
The UK Serious Fraud Office said Thursday it charged two men in connection with its investigation of Unaoil.
Ziad Akle and Basil Al Jarah were both accused of conspiracy to pay bribes to help Unaoil’s client SBM Offshore NV win contracts in Iraq.… Continue Reading
An American mutual fund manager said in an SEC filing today that it sold all shares it held in Petrofac because of an ongoing corruption investigation by the UK’s Serious Fraud Office.… Continue Reading
Oilfield services firm Petrofac said Thursday it suspended its chief operating officer Marwan Chedid during a corruption investigation.
The UK Serious Fraud Office confirmed last week it is investigating Petrofac over allegations of “bribery, corruption and money laundering” related to Unaoil.… Continue Reading
London-based Petrofac is under investigation for suspected bribery, corruption and money laundering, the UK Serious Fraud Office said Friday.
The probe is “related to the ongoing investigation into the activities of Unaoil,” the SFO said.… Continue Reading
The UK Serious Fraud Office confirmed that it has opened a new investigation into KBR, Inc.’s United Kingdom subsidiaries for suspected bribery and corruption.
The investigation “is related to the SFO’s ongoing investigation into the activities of Unaoil,” the agency said in a statement Friday.… Continue Reading
Unaoil said in a statement Tuesday that it has instructed its lawyers to start legal action against Fairfax Media and its partners for “malicious and damaging allegations negligently published” by them.… Continue Reading
An Amsterdam-based oil services company said in a U.S. securities filing last week the DOJ has asked it questions in connection with the Unaoil investigation.
Core Laboratories was one of about a dozen companies named in a report in late March by the Huffington Post and Fairfax Media.… Continue Reading
UK oil services firm Petrofac PLC said it launched an investigation into allegations of bribery to win contracts Kazakhstan and the Middle East.
Australia’s Fairfax Media and the Huffington Post reported that Monaco-based Unaoil was a middleman for bribes, according to leaked emails the news outlets said they viewed.… Continue Reading