Tag Archives | Corruption

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 […]

Curbing Corruption – Ideas That Work

The Democracy Lab and Legatum Institute have commissioned a series of case studies that examine specific interventions against corruption which have produced positive results. The aim is to tell a set of stories that illustrate how combating corruption works in practice, which may offer insight on some of the larger issues across the globe. The […]

More Allegations against SNC-Lavalin

Canadian-based engineering firm SNC-Lavalin has announced that it has replaced president and CEO Bob Card with Neil Bruce, but claims the move is “completely unrelated” to new allegations about its business in Libya. The company faced new allegations on Monday from Riadh Ben Aïssa, SNC’s former executive vice-president, who claims the company has made him […]

Qaddafi-era Contracts Grossly Overpriced

In its report for 2014, the Libyan Audit Bureau (LAB) has highlighted three major airport contracts as examples of overpriced projects undertaken during the Qaddafi era. An assessment by consultants Mott & Arup carried out for the Ministry of Finance discovered: Benghazi airport: contract overvalued by 128 percent; Tripoli airport (pictured): contract overvalued by 57 […]

LIA Vows to Continue Goldman / SocGen Litigation

Following the recent report that the law firm representing the Libyan Investment Authority (LIA) in its legal battles against Goldman Sachs and Societe Generale (SocGen) had resigned from the case, the LIA has vowed to continue with its litigation. In a statement issued through London-based strategic communications consultancy Davidson Ryan Dore, the sovereign wealth fund […]

LIA’s Lawyers Abandon Goldman Lawsuit

London-based firm Enyo Law, which had been acting on behalf of the Libyan Investment Authority (LIA) in its legal battles against Goldman Sachs and Societe Generale (SocGen), has reportedly dropped LIA as a client. The LIA is claiming $1.2 billion from Goldman and $2.1 billion from SocGen for losses on trades managed by the banks […]