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)