Saudi Arabian Oil and gas investment company, Al Rushaid Group, have brought a successful court action to claim damages for loss or revenue and reputational damage as a consequence of a small business owners dishonest and fraudulent actions.
Petrofac said an internal investigation into its board related to historical provision of services to company by Unaoil has found no wrongdoing of any director.
A Scottish logistics group will pay more than £2million in fines after an illegal bribery operations was discovered in its own organisation.
SBM Offshore’s chief executive has avoided an admission of guilt after settling with Brazilian prosecutors over “personal favouritism” charges.
Croatia's Constitutional Court has annulled two corruption convictions against former prime minister Ivo Sanader and ordered a retrial. Sanader, prime minister from 2004 to 2009, had been convicted of taking a bribe from the Hungarian oil group MOL in 2008 to allow it to take a dominant stake in Croatia's biggest utility, the oil firm INA, and also of taking a bribe from Austria's Hypo Bank in 1994 and 1995, when he was deputy foreign minister.
Petroleo Brasileiro SA is heading into a Manhattan courtroom Thursday to ask a judge to throw out investor lawsuits triggered by the multibillion-dollar bribery scandal that’s rocking Brazil’s economy and its political elite. Less than a week after police detained the chief executives of Brazil’s two biggest builders in connection with the kickback probe, the state-owned energy giant is asking that the investor cases be dismissed, saying it was swindled by renegade employees who traded construction contracts for payoffs.