OIL GIANT ENI TO PAY MILLIONS OVER ‘SHAM CONTRACTS’ IN PANAMA PAPERS BRIBERY CASE

On 23 June, ICIJ reported that US regulators have settled a major corruption case with the Italian oil company that allegedly bribed Algerian politicians through a middleman who controlled a constellation of shell companies. The SEC has announced that Eni has agreed to pay $24.5 million and to not doctor financial records, although Eni did not deny or admit the SEC’s findings.

https://www.icij.org/investigations/panama-papers/oil-giant-eni-to-pay-millions-over-sham-contracts-in-panama-papers-bribery-case

 

 

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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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