Former Leighton Offshore MD arrested over alleged $78 mln Iraq oil contract bribes
Australian police on Wednesday arrested a man in connection with $78 million in bribes used to secure lucrative Iraqi oil contracts linked to an alleged international corruption ring.
Local media named the man as former Leighton Offshore managing director Russell Waugh.
Police claim his company paid bribes through contractors including Unaoil - a Monaco-based firm which last year had two former senior executives plead guilty to being part of a scheme to bribe foreign government officials in several countries including Azerbaijan, Syria and Iraq.
For all the latest headlines follow our Google News channel online or via the app.
Investigators believe the payments were used to secure contracts to build oil pipelines worth roughly US$1.5 billion.
“The key targets of the bribery scheme were Iraqi Ministry of Oil officials and government officials within the South Oil Company of Iraq,” Australian Federal Police said in a statement announcing the arrest of a 54-year-old in Brisbane.
They said the investigation, which spanned nine years and involved US and UK authorities, was a “painstaking process” of piecing together a worldwide jigsaw of “alleged corruption.”
Police also announced they had issued two further arrest warrants for men living overseas.
Former Unaoil executive Basil Al Jarah sentenced over $1.7 bln Iraq bribery plot
Former Unaoil managers convicted in UK of Iraq bribery
Oil-dependent Iraq must ‘diversify rapidly’ as challenges stifle young population
Former Unaoil executive Basil Al Jarah sentenced over $1.7 bln Iraq bribery plotA former executive at Monaco-based oil and gas consultancy Unaoil was on Thursday sentenced in London to three years and four months in jail for ... Energy
Former Unaoil managers convicted in UK of Iraq briberyTwo former managers of Monaco-based energy consultancy Unaoil have been convicted in Britain of bribing Iraqi officials to clinch lucrative oil ... Energy
Oil-dependent Iraq must ‘diversify rapidly’ as challenges stifle young populationEarlier in the 20th century, Iraq was an agriculture-dependent new country with only a fledgling oil sector.Zooming forward to 2020, Iraq is now ... Features