The latest corruption news from Iraq – company or government bribes, theft, stealing – brought to you by Iraq Business News
By John Lee. China's Caixin has reported that the Missan Oil Company (MOC) has suspended all activities of a company called Hermic, an oilfield service company controlled by former executives of the China National Petroleum Corp. (CNPC). Hermic is said to have won at least 12 engineering outsourcing contracts worth US$75 million from CNPC at the […]
A federal grand indicted three men from the Toledo area for their roles in the operation of a $23 million fraud scheme involving the sale of Iraqi dinar currency and two non-existent hedge funds, said Steven M. Dettelbach, United States Attorney for the Northern District of Ohio, and Kathy Enstrom, Special Agent in Charge, IRS-Criminal […]
By John Lee. The Australian Securities and Investments Commission (ASIC) has today discontinued its proceedings in the Supreme Court of Victoria against Charles Stott and Michael Long for alleged breaches of their duties as officers of AWB Limited -- formerly the Australian Wheat Board -- in connection with the United Nations Oil for Food Programme in […]
By John Lee. A US man who helped steal two 10-ton electrical generators from a military base in Iraq in four years ago has been sentenced to three years in prison and ordered to pay $352,111 in restitution. Ruebin S. Thomas, a former civilian contractor, had pleaded guilty to stealing the two generators from the […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Recent information on Satarem sheds serious doubt about its prospects and ability for executing the Missan Refinery project. Iraq’s Ministry of Oil signed, in the presence of the Prime Minister Mr. Nuri […]
By John Lee. Transparency International has said that Iraq has fallen one place in its global Corruption Perceptions Index (CPI). From at total of 177 countries, Iraq came in at number 171, putting it in 7th-last position. This result puts it ahead of countries such as Libya, South Sudan, and Somalia (which came last), and […]
By John Lee. The US Department of Justice has said that an Iraqi construction company has paid $2.7 million to resolve allegations that it bribed a former US Army Corps of Engineers (USACE) official to win contracts in Iraq. Iraqi Consultants and Construction Bureau (ICCB), headquartered in Baghdad, had reached the settlement of alleged violations […]
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Making Themselves at Home: al Qaeda Ups Mafia-Style Extortion in Mosul The northern Iraqi city of Mosul is well known as the base of Sunni Muslim extremists, Al Qaeda, […]
By John Lee. A former Marine has been sentenced to five years and three months in federal prison for his role in corruption in Iraq. LA Times reports that former staff sergeant Gilbert Mendez is the 10th Marine who was stationed at Camp Fallouja to be convicted of corruption or fraud-related offensives. Mendez, who served […]
By John Lee. The Australian reports that the company at the centre of the Leighton Holdings bribery allegations has denied any involvement in corruption in Iraq, or having links to the Oil Minister and Prime Minister. Unaoil, which is based in Monaco, was alleged to have been paid kickbacks by Leighton to secure an oil […]
By John Lee. [UPDATE: In January 2017, Wal King, former CEO of Leighton Holdings, received an apology and an out-of-court settlement from Fairfax Media following their claim that he knew of alleged corporate misconduct, including the payment of a $42 million bribe in Iraq.] Shares in the Australia's Leighton Holdings, Australia’s biggest builder, fell more […]
By John Lee. Ruebin S. Thomas, a former civilian contractor, has pleaded guilty to stealing two electric generators from a U.S. military base in Iraq, reports Associated Press. Thomas, who worked for Honeywell Technologies at the Camp Victory Base Complex in Baghdad, stole two generators valued at $176,000 each in June 2009. Sentencing was scheduled […]
