An
Italian court on Thursday found Saipem guilty on charges of
international corruption, confiscating assets worth 24.5 million
euros and ordering it to pay fine of 600,000 euros.
The
case revolved round a company called Snamprogetti which was accused
of paying bribes to Nigerian officials to win contracts between 1994
to 2004.
Snamprogetti
was a wholly owned subsidiary of Italian oil and gas group Eni until
February 2006 when a deal was reached to sell it to Saipem.
Snamprogetti
was merged into Saipem in 2008. Saipem is 43 percent owned by
Eni.
Culled from the PUNCH
Culled from the PUNCH
What
Nigeria Judiciary System can not do because of corruption, court with
integrity are doing it. Shell Petroleum Should be next.
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