US Court Drops Eni Corruption Charges In Nigeria
Posted by AfricaEagle on 19 Sep 2012 | 1 comments
The United States District Court has dropped a probe into a former unit of Italian oil and gas group Eni over corruption charges in Nigeria, Eni said on Wednesday.
Oil service group Saipem is 43 percent controlled by Eni.
In 2010 the Justice Department filed criminal charges against Snamprogetti, as part of the TSKJ consortium, for corruption of Nigerian public officials regarding contracts to build liquid natural gas plants on Bonny Island.
The company agreed to pay $240 million in a deferred prosecution agreement.
The U.S. Department of Justice at the time said it would drop the charges after two years if anti-corruption measures were put in place.
Snamprogetti Netherlands BV had 25 percent of the TSKJ consortium.
Does payment of Deffered Prosecution Agreement a sufficent cure for the allegation? What is certain was that an allegation was made and naturally this a credence to the fact that something was done wrongly.This is a technical solution to a serious issue.