Shell admits dealing with money launderer

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Source: bbc.co.uk 11 April 2017

“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 the Italian firm ENI agreed a deal with the Nigerian government for the rights to exploit OPL 245, a prime oil block off the coast of the Niger Delta.

The government passed on $1.1bn of the money to a company called Malabu, which was controlled by Mr Etete, according to Italian prosecutors.

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.”

Source article here

 

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