13 thoughts on “HSBC bank, Citibank in corruption scandal

  1. Monday 4th April 2016

    posted by Morning Star in World

    IRAQI Prime Minister Haider al-Abadi ordered an “immediate” investigation into corruption claims against senior oil officials at the weekend following allegations in the international media.

    He said that both the anti-corruption commission and the judiciary should investigate reports published by the Huffington Post and Australia’s Fairfax Media into large-scale bribe-taking by Monaco-based Unaoil company.

    The report names four senior Iraqi officials as having received bribes from Unaoil between 2004 and 2012.

    They include former oil minister Abdul-Karim Elaibi and outgoing Higher Education Minister Hussain al-Shahristani, who previously served as oil minister and deputy prime minister in charge of energy. The publications said that they had drawn on information gleaned from hundreds of thousands of internal emails dated between 2002 and 2012 for their six-month investigation.

    The report said that Unaoil had paid at least $25 million (£17.57m) in bribes via middlemen to secure Iraqi officials’ support, while complaining that they were “greedy.”

    http://morningstaronline.co.uk/a-37c4-Iraq-PM-orders-probe-into-claims-of-high-level-oil-corruption#.VwIFVHoYMdU

  2. Saturday 2nd April 2016

    posted by Morning Star in World

    Principality’s police carry out raids for the SFO

    by Our Foreign Desk

    CORPORATIONS around the world are implicated in a “vast” corruption scandal centred on the Mediterranean microstate of Monaco.

    The principality’s government claimed yesterday that it was co-operating fully with investigations into Unaoil, a Monaco-based company registered in the British Virgin Islands tax haven.

    On Thursday night, the government said on its website that police had conducted several raids at the request of Britain’s Serious Fraud Office (SFO).

    The US Justice Department, the FBI and Australian federal police are also investigating the allegations.

    The bribery scandal first emerged in a report by the Huffington Post and its Australian partner Fairfax Media on Wednesday.

    Unaoil and its subcontractors are alleged to have paid bribes to secure lucrative contracts for transnational corporations.

    US firms Halliburton, Honeywell, KBR and FMC Technologies, Korean manufacturers Samsung and Hyundai, Britain’s Rolls-Royce and Germany’s Man Turbo are among Unaoil’s hundreds of corporate clients.

    Italy’s Eni is reported to be one of many companies which secured contracts in Kazakh­stan with Unaoil’s help. The firm said yesterday that staff members mentioned in the report had since left its employment.

    Monaco First Minister Serge Telle said yesterday that corruption was a “plague that we must fight in all its forms,” claiming that the principality’s days as a haven for dubious financial dealing were “over.”

    He said authorities were under standing orders from monarch Prince Albert II “to open the doors and windows of the principality on these questions.”

    But Unaoil chief executive Cyrus Ahsani — the scion of a wealthy Iranian emigre clan who came to Monaco after the 1979 Islamic revolutuion — is also also treasurer of the swanky Ambassadors Club, whose honourary president is Prince Albert.

    The tiny city-state close to the French border with Italy has long served as a tycoons’ tax haven as well as a playground for the filthy rich.

    Mystery still surrounded the case yesterday, with the SFO and implicated firms remaining tight-lipped about the investigations.

    http://morningstaronline.co.uk/a-3a2d-Monaco-Bribery-probe-looks-at-major-corporations#.VwIFuXoYMdU

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