Tuesday, April 16, 2024

Barbados helps in bribery case

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BARBADOS may have helped Canada solve a major case of corporate bribery by a Canadian company in a foreign country.
As a result of evidence provided by law enforcement authorities in Barbados, Japan, Switzerland, Britain and Canada to the Royal Canadian Mounted Police (RCMP), Niko Resources, an international oil and gas company based in Calgary, decided to plead guilty to bribing a government minister in Bangladesh by giving him the use of an expensive luxury vehicle and by financing a trip to Calgary and New York.
The full extent of Barbados’ contribution to the resolution of the case wasn’t made clear. However Niko Resources, a multibillion (Canadian) dollar independent oil and gas exploration company with operations in a host of countries, ranging from Trinidad and Tobago, India and Pakistan to Indonesia, Kurdistan and Madagascar has agreed to pay CAN$9.5 million in penalties after it admitted giving A.K.M. Hossain, a Junior Energy Minister in Bangladesh, a vehicle and then financing a trip to North America in 2005. (TB)
 
Full story in today’s WEEKEND NATION.
 

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