The guardian recently published a huge article on a scandalous oil deal with minister otete and the jonathan administration. It involved $800 million payoffs, pretty amazing. Here is the link:
and thebeginning of the story:
The oil deal, the disgraced former minister, and $800m paid via a UK bank
Major investigation provokes concerns that City regulators waved through deal at heart of court case
An oil terminal in southern Nigeria. One of the country’s most prized offshore oil licences was eventually secured by Shell in 2011 for $1.3bn. Photograph: Pius Utomi Ekpei/AFP/Getty Images
Sunday 5 March 2017 02.00 EST
Britain’s commitment to tackling high-end money laundering through the City of London is under serious scrutiny after it emerged that regulators appear to have waved through an $800m bank transfer to a convicted criminal as the proceeds from one of the most corrupt deals in the history of the oil industry.
A joint investigation by the Observer and journalists from Finance Uncovered, a non-profit organisation based in London, has discovered that prosecutors in Milan believe two payments of $400m each were wired through JP Morgan in London as the spoils of a huge deal to develop a Nigerian oilfield involving Shell, its joint venture partner the Italian oil giant Eni, and the government in Abuja.
More than half the money was converted into bags of bribe cash via bureaux de change in Nigeria, while tens of millions was wired to buy a private jet and armoured cars in the US, according to documents compiled by the prosecutors. But ordinary citizens of Nigeria have not seen a penny from the deal – which, it is alleged, was partly negotiated by two ex-MI6 officers hired by Shell as “business and investment advisers”.
The astonishing allegations have been made by an Italian prosecutor, Fabio de Pasquale, whose previous scalps include former Italian leader Silvio Berlusconi.
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