U.K. Serious Fraud Office Investigates Unaoil
July 19 2016 - 5:30PM
Dow Jones News
U.K. authorities on Tuesday said they are conducting a criminal
investigation into a Monaco oil contractor on allegations of
"bribery, corruption and money laundering."
The investigation by Britain's Serious Fraud Office is the
latest into Unaoil SAM, which also is being investigated over
allegations of corruption in Monaco and by oil companies such as
Petrofac PLC.
The SFO said it had been approached by a number of sources who
may have information relevant to an investigation of the company.
The SFO urged others with information about Unaoil to come
forward.
The SFO said it began the investigation in March "into the
activities of Unaoil, its officers, its employees and its agents in
connection with suspected offences of bribery, corruption and money
laundering."
Unaoil declined to comment on the SFO investigation. The company
has previously denied corruption allegations that were reported by
Australia-based Fairfax Media and by the Huffington Post in
March
"We stand by our firm's legacy and look forward to the facts of
this case being properly brought to light," the company had said in
May in reaction to media reports.
The SFO declined to comment further.
The Fairfax and Huffington Post reports have also triggered
probes in Monaco and Iraq, where officials say they are
investigating bribes and other alleged corruption.
Monaco and Iraqi officials didn't respond to requests for
comment on Tuesday night.
U.K. oil-services company Petrofac, among the largest oil
contractors in Iraq, opened an investigation into allegations about
Unaoil in April. The company had said at the time that it hadn't
found any evidence of wrongdoing. But it said it had appointed law
firm Freshfields Bruckhaus Deringer and consultancy KPMG LLP to
assist in conducting a full investigation.
Petrofac on Tuesday didn't have an immediate response to
inquiries for comment.
Write to Summer Said at summer.said@wsj.com
(END) Dow Jones Newswires
July 19, 2016 17:15 ET (21:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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