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
On Twitter Friday, Mossack Fonseca said:
Our offices in Jersey, Isle of Man and Gibraltar will be ceasing operations, but we will continue serving all of our clients.… 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.
The last five years have seen a dramatic shift in the transparency environment, in a trend that began with Wikileaks launching the Arab Spring, and which is now reaching fruition in the vast data leaks from Luxembourg, Unaoil and Panama.… Continue Reading
The Unaoil scandal has again brought FCPA due diligence to the forefront. Specifically, the question asked of compliance officers is, “How much due diligence is enough?”
The answer, still, is “it depends.” … Continue Reading
FMC Technologies received “an inquiry” from the Justice Department as part an investigation into whether services Unaoil provided to clients, including FMC, violated the Foreign Corrupt Practices Act.… Continue Reading
Oil and gas services firm KBR said in its quarterly report Friday that the DOJ has contacted the company in connection with an investigation of Unaoil.
The Huffington Post/Fairfax Media reported a month ago that Monaco-based Unaoil acted as an intermediary to pay bribes for big international companies, mainly from the oil and gas sector.… Continue Reading
I received an order for almost $1 million of grenades from a Caribbean Island — as I recall, it was Antigua. You don’t need to be an auditor to know that doesn’t look right.… 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.
As I spent some time this morning trolling through a few dozen articles and opinion pieces about the Unaoil scandal, I was drawn to a Huffington post article detailing the roles of two large commercial banks. … Continue Reading
I have not had sight of the TRACE reports into Unaoil but no doubt in time they will become public. I am confident that TRACE did what it was contracted to do and exercised skill and care in so doing.… Continue Reading