Tag Archives | Monaco

Former Unaoil Exec Jailed over Bribery in Iraq

Former Unaoil executive sentenced for paying bribes to win $1.7-billion worth of contracts Basil Al Jarah has today been sentenced to three years and four months' imprisonment for paying in excess of $17m in bribes to dishonestly secure approximately $1.7bn worth of contracts in post-occupation Iraq. Al Jarah, Unaoil's former Iraq partner, conspired with others […]

Second former Unaoil Executive Sentenced for Bribery

Second former Unaoil executive sentenced for bribery in post-occupation Iraq Stephen Whiteley, Unaoil's former territory manager for Iraq, has today become the second Unaoil executive to be sentenced for paying over $500,000 in bribes to secure a $55m contract to supply offshore mooring buoys. He was sentenced by HHJ Beddoe to 3 years' imprisonment. This […]

Fmr Unaoil Exec Jailed for Iraq Bribery

Ziad Akle, Unaoil's territory manager for Iraq, has been sentenced to five years' imprisonment for paying over $500,000 in bribes to secure a $55m contract to supply offshore mooring buoys. The new buoys formed part of the post-occupation Iraqi government's "Master Plan" to rebuild Iraq's oil industry and thereby expand the country's oil export capacity. […]

Iraq Corruption Case: Former Oil Execs Convicted

By John Lee. The UK's Serious Fraud Office (SFO) has secured convictions against two former oil executives who conspired to give corrupt payments to secure contracts in Iraq. A jury at Southwark Crown Court found Ziad Akle guilty on two counts and Stephen Whiteley guilty on one count of conspiracy to give corrupt payments. The […]

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, […]

Unaoil Directors Plead Guilty in US

Two brothers have pleaded guilty in the US to facilitating the payment of millions of dollars in bribes to officials in nine countries, including Iraq. Cyrus Ahsani, 51, and Saman Ahsani, 46, both of United Kingdom (UK), ran the Monaco-based oil and gas consultancy Unaoil. They are due to be sentenced on 20th April, 2020. […]

Former Unaoil Exec pleads Guilty to Iraq Corruption

Former Unaoil executive pleads guilty to conspiracy to give corrupt payments Basil Al Jarah, Unaoil’s former partner in Iraq, pleaded guilty on 15 July 2019 to five offences of conspiracy to give corrupt payments in connection with the UK Serious Fraud Office (SFO)’s investigation into Unaoil. The offences relate to the award of contracts to […]

TechnipFMC Fined for Iraq Bribes

By John Lee. Oil services firm TechnipFMC (TFMC) has agreed to pay $296 million to resolve allegations that the company paid bribes in Brazil and Iraq. TFMC is the product of a 2017 merger between two predecessor companies, Technip S.A. and FMC Technologies, Inc.. The admissions and court documents establish that beginning by at least […]

Contracts Awarded for Metal Detectors

By John Lee. Two companies have won tenders to supply "Hook & Line equipment and Metal Detectors" to the United Nations Office for Project Services (UNOPS) in Iraq. The contract with South Africa-based LVP Technology is valued at $608,292, while the contract with Monaco-based MKG sarl is valued at $144,845. (Source: UNGM)

Two charged in UK's Unaoil Investigation

The UK's Serious Fraud Office (SFO) has charged two individuals in relation to the Unaoil investigation. Ziad Akle (42) and Basil Al Jarah (68) have both been charged by requisition with conspiracy to make corrupt payments to secure the award of contracts in Iraq to Unaoil’s client SBM Offshore. Akle, who resides in London, was Unaoil’s […]

Unaoil takes Legal Action Against UK SFO

By John Lee. Monaco-based Unaoil, which has been implicated in an international bribery scandal, has launched legal action against the United Kingdom's Serious Fraud Office (SFO), alleging that it has unlawfully misused its powers. The SFO is currently conducting a criminal investigation into the activities of Unaoil, its officers, its employees and its agents in […]

UK opens Criminal Investigation into Unaoil

By John Lee. The UK's Serious Fraud Office (SFO) has announced that it is conducting a criminal investigation into Unaoil, the Monaco-based company that has been implicated in an international corruption scandal. A statement from the SFO called for information relating to the allegations: "The SFO is conducting a criminal investigation into the activities of […]