$4 billion dispute
Authorities in the US are investigating claims of bribery by Chinese oil producers, linked to bank accounts in the Isle of Man.
It surrounds a $4 billion dispute between state-owned producers and the government of Nigeria.
The China Petroleum & Chemical Corporation, more commonly known as Sinopec, is one of the world's biggest oil refiners.
Now claims dating back to 2015 allege bosses at its European subsidiary, Addax, paid $100m (£77m) to Nigerian officials, in an attempt to quell a row over drilling in the country.
Some of that money has been traced back to Douglas, where Addax has a number of shell companies incorporated.
The affair prompted accountants Deloitte to drop Addax as a client.
Now the US Securities & Exchange Commission and Justice Department have launched a joint probe - although sources at the Washington Post are claiming 'no action is imminent' at this stage.
Steam Packet praises passengers and crew following 'significantly rougher' than normal crossing
Bus Vannin invests in six new double-deckers
MiCard alternatives 'must be better than what we already have'
Last chance for central residents to respond to 20mph consultation
Spitfire passenger flights to launch from Ronaldsway
Comments
Add a comment