A top Norwegian Fertilizer company, Yara embroiled in corruption scandal in Libya
Tuesday, 26 March 2013
A very serious bribery scandal has been uncovered between a Norwegian
fertilizer company, Yara,and an African country, Libya in which lots of
money exchanged hands through m,any companies and many fake
The Norwegian fertilizer producer, Yara, a company with multi-billion turnover,
is suspected of having bribed a former top politicians in Libya, Shokri
Ghanem, who was found dead in the Danube River in Austria a year ago.
Image: Former Prime Minister, oil
minister and head of the Libyan state oil company NOC, Shokri M.
Ghanem, should have received millions from Yara. Source: Dagens
the Norwegian business daily, Dagens Næringsliv hold that the company,
Yara, using fictitious invoices to had transferred over Nkr8 million to
the former Prime Minister, oil minister and senior commander in the
Libyan state oil company NOC, Shokri Ghanem.
According to detailed information which the paper reviewed, access was
granted, for the payout of $ 1.5 million (Nkr8.25 million) and went to
an account controlled by a close family member of Ghanem in the Swiss
The bribes are said to have been disguised through payments associated
with dealings on fertilizers and should have gone through a number of
companies. Police through seizures of the Swiss fertilizer trading
company Balderton's records and another Swiss company have come across
the documentation showing the transfer.
Bjorn Stordrange, the lawyer representing Ghanem's family in Norway said to the press that "I have no comments on this."
The corruption case exploded in the spring of 2011 in which the
company, Yara, was informed by the Norwegian National Authority for
Investigation and Prosecution of Economic and Environmental
Crime, Økokrim about the possible corruption in connection with a
project in Libya.
It happened after the boss of the upstream segment, Tor Holba in 2008
warned internally about possible corruption. Internal investigation
also led to suspicions of possible corruption in India. Økokrim
indicted Yara for gross corruption in both cases.
by Scancomark.com Team
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