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Fmr Australian Exec Arrested over Alleged Iraq Bribery

By John Lee.

The Australian Federal Police (AFP) has made one arrest, and issued a further two arrest warrants, following an investigation into alleged improper payments made by Singapore-registered Leighton Offshore Pty Ltd, regarding two contracts with Iraq Crude Oil Export in 2010 and 2011.

The Sydney Morning Herald names the arrested suspect as Russell Waugh, a former senior executive from Australian construction giant Leighton Holdings.

Police will allege the key targets of the bribery scheme were Iraqi Ministry of Oil officials and government officials within Iraq’s South Oil Company (SOC).

AFP investigators will allege Leighton Offshore Pty Ltd funnelled bribes through entities associated with a United Arab Emirates-based businessman, and Monaco-based Unaoil, to guarantee approvals for the Iraq Crude Oil Export contracts.

More here and here.

(Sources: Australian Federal Police, Sydney Morning Herald)

The post Fmr Australian Exec Arrested over Alleged Iraq Bribery first appeared on Iraq Business News.

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Iraq Bribery Trial starts in London

By John Lee.

The trial has begun in London of three British businessmen accused of conspiring to pay bribes totalling $6m (£4.6m) to win contracts in Iraq worth $800 million.

According to the UK’s Serious Fraud Office (SFO), Monaco-based Unaoil bribed Iraqi officials to help Dutch-based SBM Offshore [Single Buoy Moorings], and Singapore’s Leighton Offshore, to secure the contracts between 2005 and 2013.

The Guardian reports that Ziad Akle (44), Unaoil’s territory manager for Iraq, Stephen Whiteley (64), who was a vice-president at SBM until 2009 before joining Unaoil as its manager for Iraq, and Paul Bond (67) SBM’s sales manager for the Middle East, have all pleaded not guilty.

The trial is expected to last three months.

(Sources: The Guardian, Bloomberg)

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Iraq targets major Basra Gulf Expansion

Iraq is pursuing major infrastructure projects to add millions of barrels per day of export capacity, in an effort to keep pace with ambitious plans to raise production.

In the short term, the Oil Ministry is looking to jump-start work on a long-delayed pipeline contract with the Australian company Leighton Offshore.

Beyond that, Iraq is looking to commission new offshore pipelines and to build an artificial island, the latter of which is likely to be contracted to the Dutch firm Boskalis.

More details here from Iraq Oil Report (subscription required)

(Source: Iraq Oil Report)

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UK Starts Corruption Proceedings against Unaoil

The UK’s Serious Fraud Office (SFO) has commenced criminal proceedings against Unaoil Monaco SAM and Unaoil Ltd as part of an ongoing corruption prosecution.

This follows charges already brought against four individuals for alleged conspiracy to make corrupt payments to secure the award of contracts in Iraq.

Unaoil Ltd has been summonsed with two offences of conspiracy to give corrupt payments, contrary to section (1) of the Criminal Law Act 1977 and section 1 of the Prevention of Corruption Act 1906.

This relates to alleged corrupt payments to secure the award of a contract worth US$733 million to Leighton Contractors Singapore PTE Ltd for a project to build two oil pipelines in southern Iraq.

Unaoil Monaco SAM has been summonsed with two offences of conspiracy to give corrupt payments, contrary to section (1) of the Criminal Law Act 1977 and section 1 of the Prevention of Corruption Act 1906.

The charges relate to alleged corrupt payments to secure the award of contracts in Iraq to Unaoil’s client SBM Offshore.

The first appearance for the companies will be held at Westminster Magistrates’ Court on 18 July 2018.

(Source: SFO)

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New Charges in Unaoil Investigation re $733m Contract

The UK’s Serious Fraud Office (SFO) has brought further charges against two individuals facing trial in relation to the Unaoil investigation.

Basil Al Jarah and Ziad Akle have both been charged with conspiracy to give corrupt payments to secure the award of a contract worth US$733 million to Leighton Contractors Singapore PTE Ltd for a project to build two oil pipelines in southern Iraq.

  • Basil Al Jarah was charged on 15 May 2018 with two offences of conspiracy to give corrupt payments, contrary to section (1) of the Criminal Law Act 1977.
  • Ziad Akle was charged on 16 May 2018 with one offence of conspiracy to give corrupt payments, contrary to section (1) of the Criminal Law Act 1977.

Basil Al Jarah and Ziad Akle will appear before Westminster Magistrates’ Court on 23 May 2018.

The SFO would like to thank the Australian Federal Police for the assistance it provided in connection with our investigation.

The investigation is ongoing.

(Source: SFO)