UNAOIL CASE: OIL EXECUTIVES PLEAD GUILTY IN US FOR ROLES IN BRIBERY SCHEME INVOLVING FOREIGN OFFICIALS

A news release from the US DoJ on 30th October announced that the former CEO and chief operations officer of a Monaco-based intermediary company have pleaded guilty for their roles in a scheme to corruptly facilitate millions of dollars in bribe payments to officials in multiple countries.  These included Algeria, Angola, Azerbaijan, the Democratic Republic of Congo, Iran, Iraq, Kazakhstan, Libya and Syria.  The company’s former business development director also pleaded guilty for his role in paying bribes in Libya.  Cyrus Ahsani, 51, and Saman Ahsani, 46, both of the UK, had pleaded guilty to conspiracy to violate the FCPA, and UK resident Steven Hunter, 50, a former business development director, later also pleaded guilty to conspiracy to violate the FCPA. Cyrus and Saman Ahsani are set for sentencing in April 2020, and Hunter’s sentencing is scheduled for March 2020.  It is said that the governments of Australia, Canada, France, Guernsey, Italy, Monaco, the Netherlands, Portugal, Switzerland and UK provided significant assistance in this matter as did the SEC and Eurojust.

https://www.justice.gov/opa/pr/oil-executives-plead-guilty-roles-bribery-scheme-involving-foreign-officials

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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