Shell Plc (SHEL)

[farml1234]

anyone know anything about this , from another board



Shell and Eni face one of the biggest corruption cases in corporate history over $1.3bn Nigerian oil field
https://www.yahoo.com/news/shell-eni-face-one-biggest-204857834.html

(My comment - remember the Niger Delta Avengers blowing up pipelines? I never did like them or agree with what they were doing but after reading this article now I understand...)


Giant oil companies, offshore accounts, ex-MI6 agents, champagne lunches, a former Nigerian president and allegations of one of the biggest bribes ever paid – the corruption case against Shell and Italy’s Eni filed by prosecutors in Milan over a shady $1.3bn deal for a vast African oil field has all the elements of an espionage thriller.

The latest twists thicken the plot further with a cache of documents seized in a raid on a Swiss financier’s apartment that could be crucial to the case, leaving prosecutors in a race against time to get them to Milan as trial hearings get underway this week.

The Geneva raid uncovered a briefcase belonging to Emeka Obi, a middleman who received millions of dollars from the deal and is in the dock along with several senior Shell and Eni executives.

Inside the briefcase, Swiss prosecutors found a laptop, two Nigerian passports, five sim cards and a hard drive containing 41,000 documents that prosecutors believe could be crucial to the trial playing out on the other side of the Alps.

The stakes are high. Italian prosecutors allege that, of the total $1.3bn fee paid by Shell and Eni for the oil field, $1.1bn went not into the coffers of the Nigerian state but the accounts of former oil minister Dan Etete who then distributed hundreds of millions to well-connected individuals, including former president Goodluck Jonathan.

The amount distributed as bribes is more than the entire Nigerian healthcare budget for 2018, in a country where 87 million people live in extreme poverty – more than any other country on earth.

The Geneva apartment belonged to Olivier Couriol, a former Credit Suisse banker who has been named in two other international corruption cases.
(Article continues visit the link above if you are interested...)