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)

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