Tag Archives | Corruption

UK Investigator Seeks Libya Files From SocGen

By John Lee. The UK’s Serious Fraud Office (SFO) has reportedly sought documents from Societe Generale (SocGen) regarding its relationship with the Libyan Investment Authority (LIA). Last week, the French banking giant agreed to pay 963 million euros ($1.1 billion) as part of the agreement between the two companies to resolve all matters between them concerning […]

Rada arrests Mellitah Execs in Fraud Probe

Libya Herald reports that four senior executives from Mellitah Oil and Gas have been detained in Tripoli over an alleged fraud involving the new $425-million GAZA Floating, Storage, Offloading Marine Terminal (FSO) (pictured) at Bouri Offshore Field. They were detained by the Rada Deterrence Force, which alleges that they abused their authority and wasted public […]

LIA Corruption: Och-Ziff to Pay $400m Penalty

Hedge fund Och-Ziff Capital Management Group has agreed to pay a criminal penalty of more than $213 million to the United States Dept of Justce, in connection with a widespread scheme involving the bribery of officials in the Democratic Republic of Congo (DRC) and Libya. It will pay an additional $199 million to the Securities […]

Libya warns Foreigners on Car Number Plates

By John Lee. At a time when Libya faces threats from kidnapping, terrorism, corruption and violent crime, its security services have chosen to focus their attention on the problem of foreigners driving cars with registration plates of the wrong colour. Libya Herald says Tripoli’s Security Directorate has warned foreigners living in Tripoli not to drive […]

Businessman told to Disclose more Records

A Libyan businessman has been ordered by the British High Court to disclose additional phone and banking records in relation to the case in which the Libyan Investment Authority (LIA) is pursuing French bank Societe Generale (SocGen) for some $2.1 billion relating to a series of disputed trades. According to Reuters, the LIA claims that SocGen […]

New Allegations of Corruption in the Libyan Oil Industry

By John Lee. An investigation by Fairfax Media — publisher of The Age and The Sydney Morning Herald newspapers — and The Huffington Post, claims that Monaco-based Unaoil has been involved in widespread bribery and corruption in the oil industry, including in Iraq, Iran and Libya. Following examination of tens of thousands of emails, the report says that Unaoil […]

No Improvement in Libya’s Transparency Ranking

By John Lee. Transparency International has said that Libya’s ranking has remained static in its global Corruption Perceptions Index (CPI). From at total of 167 countries, Libya came in at number 161, tying with Iraq; last year’s position was 161 out of 175 countries. This result puts it ahead of countries such as Afghanistan, North […]

SNC-Lavalin Corruption Trial Postponed

The criminal case in Canada against SNC-Lavalin for alleged corrupt activities in Libya, which had been due to resume last week, has been postponed until February 2016. The company has been charged with paying bribes totalling US$ 37 million to government officials in Libya between 2001 and 2011.  It is also charged with defrauding construction […]