MENU × BUSINESS
Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
TECHNOLOGY
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
PLATFORM
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleOracleRed Hat
LEADERSHIP
CEO ReviewCompany Review
MAGAZINE
ASIA INDIA
STARTUPS CLIENT SPEAK CONTACT US

The Silicon Review Asia

A bribery case, a Nigerian oil industry’s involvement: a whole new debacle in U.S

A bribery case, a Nigerian oil industry’s involvement: a whole new debacle in U.S

In a bid to recover assets that includes hefty amount: a $50 million Manhattan apartment and an $80 million yacht, the U.S. Justice Department filed a lawsuit as the properties were bought using money that was generated from a scheme to pay millions of dollars to a former Nigerian oil minister.

The civil lawsuit, filed in the federal court in Houston, alleged that two Nigerian businessman, Kolawole Akanni Aluko and Olajide Omokore conspired with some unnamed persons to pay bribes to the minister, Diezani Alison-Madueke, who oversaw the African country’s state-owned oil company. According to the lawsuit, Alison-Madueke directed profitable contracts with a subsidiary of Nigerian National Petroleum Corp to companies that was owned by the two businessmen.

But these companies, despite being unqualified and failure to perform services under the stated contracts has been successful in receiving more than $1.5 billion in revenues through the sale of crude oil. After their share of profit, they laundered their illegitimate revenues through the United States to buy $144 million in assets including the Manhattan condominium and the $80 million yacht, the Galactica Star.

And the oh-yes-expensive condominium is located in One57, a skyscraper located near Central Park on a street in Midtown Manhattan that is ruggedly known as “Billionaire’s Row.”

YOU MAY ALSO LIKE

Marketing Partnership: NBA, McDonald’s Will Jointly open NBA Experience Zones India

There is good news for all basketball fans in India. Very soon, NBA themed promotions and experience zones will be launched in India. The announcement...

Dunzo to Raise Funds from Google, others

Dunzo, the app which is trying to make life easier for the people upto some extent plans to raise about Rs. 183 crore from different investors which a...

Sapta Shakti Command Will Be Displaying Defence Technology Equipment at Jaipur Military Station

This event is organised with an aim to provide an opportunity where one and all can experience the developments in the field of defence and security-r...

Samsung is All Set to Roll out Its Galaxy A9 Smartphone On November 20

After Samsung unveiled its new Galaxy A9 smartphone in Singapore last month, the company is all set to launch it in India on November 20. In Singapore...

RECOMMENDED