Fmr Unaoil Exec Jailed for Iraq Bribery

2020-07-27 01:34:29

(MENAFN- Iraq Business News) Ziad Akle, Unaoil 's territory manager for Iraq, has been sentenced to five years' imprisonment for paying over $500,000 in bribes to secure a $55m contract to supply offshore mooring buoys.

The new buoys formed part of the post-occupation Iraqi government's "Master Plan" to rebuild Iraq's oil industry and thereby expand the country's oil export capacity. To ensure Unaoil benefitted from these state-run projects, Akle, conspiring with Stephen Whiteley and others, bribed public officials at the South Oil Company to secure contracts for Unaoil and its clients.

In his sentencing, HHJ Beddoe said:

"The offences were committed across borders at a time of serious need for the government of Iraq to rebuild after years of sanctions and the devastation of war. They were utterly exploitative at a time when the economic and political situation in Iraq was extremely fragile."

A jury at Southwark Crown Court found Akle guilty on two counts of conspiracy to give corrupt payments. Another individual, Stephen Whiteley, was found guilty of one count of conspiracy to give corrupt payments in relation to the same crime. He will be sentenced on a date to be determined.

SFO Director Lisa Osofsky said:

"Ziad Akle and his co-conspirators exploited a country reeling from years of dictatorship and military occupation to line his own pockets and win business. It is this combination of greed and heartless avarice that led to these convictions.

"Today's sentencing sends a clear message that the United Kingdom and the SFO will not tolerate criminal activity that undermines the fairness and integrity of international business."

The convictions followed the guilty pleas of co-conspirator Basil Al Jarah who, in July 2019, admitted five offences of conspiracy to give corrupt payments. Al Jarah, who admitted to paying bribes totalling over $6million to secure contracts worth $800m for the supply of oil pipelines and offshore mooring buoys, is due to be sentenced at Southwark Crown Court on 8 October 2020.

(Source: SFO)

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