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Shell admits dealing with money launderer
Source: BBC
Shell admits dealing with money launderer
By Ben King
Business reporter, BBC News
11 April 2017 Business
Shell has admitted for the first time it dealt with a convicted money-launderer when negotiating access to a vast oil field in Nigeria.
It comes after emails were published showing Shell negotiated with Dan Etete, who was later convicted of money laundering in a separate case.
Shell and an Italian oil company paid $1.3bn (£1bn) to the Nigerian government for access to the field.
Investigators claim $1.1bn was passed to a firm controlled by Mr Etete.
[font size=1]-snip-[/font]
Documents filed by the Italian prosecutors claim that $466m of that sum was then laundered through bureau de change and passed on to the then president, Goodluck Jonathan, and members of his government.
[font size=1]-snip-[/font]
By Ben King
Business reporter, BBC News
11 April 2017 Business
Shell has admitted for the first time it dealt with a convicted money-launderer when negotiating access to a vast oil field in Nigeria.
It comes after emails were published showing Shell negotiated with Dan Etete, who was later convicted of money laundering in a separate case.
Shell and an Italian oil company paid $1.3bn (£1bn) to the Nigerian government for access to the field.
Investigators claim $1.1bn was passed to a firm controlled by Mr Etete.
[font size=1]-snip-[/font]
Documents filed by the Italian prosecutors claim that $466m of that sum was then laundered through bureau de change and passed on to the then president, Goodluck Jonathan, and members of his government.
[font size=1]-snip-[/font]
Read more: http://www.bbc.com/news/business-39561822