- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
A report filed this month by Italian oil giant Eni shows how corruption allegations against it now include Nigeria, Iraq, Kazakhstan, Algeria, and Congo. The number of enforcement authorities, employees, and subsidiaries involved is also spreading.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
Italian oil company Eni will pay $24.5 million to settle SEC charges that it violated the Foreign Corrupt Practices Act with regard to the award of certain contracts to its former subsidiary Saipem in Algeria.
Italian oil company Eni said in a recent regulatory filing it is in “advanced discussions” regarding a resolution to an SEC probe into allegations of corruption for the award of certain contracts in Algeria.
Calling Eni’s statement “misleading,” the Department of Justice wants to make it clear its corruption inquiry into the Italian oil company was not closed for lack of evidence.
