Bribery and Conspiracy in Nigeria Drill Platform

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Monday, November 24, 2008 at 07:00PM

Foreign Corrupt Practices Act Snags Another Oil and Gas Company

Aibel Group Ltd. pled guilty to conspiracy to violate and violating anti-bribery provisions.

A United Kingdom-based provider of products and services to the oil and gas industry was found guilty on November 21 with conspiracy and breach of anti-bribery provisions of the FCPA. Aibel Group Ltd, owned by private equity funds in Norway, was found guilty in a Texas federal court.

The US Justice Department stated that corrupt payments were funneled or managed by an affiliated company in Houston and paid for through an international freight forwarding and customs clearance company.

The company admitted it was not in compliance with a “deferred prosecution agreement” with the Justice Department, signed in February 2007. The plea means Aibel Group will pay a $4.2 million fine and serve a 2-year term of organizational probation that entails submission of periodic reports regarding its progress in implementing antibribery compliance measures.

The charges related to their first Nigerian deepwater drill. The company made 378 corrupt payments totaling approximately $2.1 million to Nigerian customs service officials for preferred treatment during clearance.

The Correspondent— Derek Armstrong is the chief crime reporter for Crime Report USA, a contributor to Films & Books magazine, Deadly Prose magazine, EDI Weekly and an investigative journalist contributing to several newspapers. He is a frequent guest on CNN, NBC, and other networks, and the author of eight books, including the investigative true crime blockbuster Drew Peterson Exposed, the eternally popular Alban Bane crime thrillers MADicine and The Game, and the cult classic historical fantasy novels The Last Troubadour and The Last Quest (from Kunati Books).

Corruption,

Nigeria,

Oil & Gas,

United Kingdom |

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