Shell admits dealing with money launderer


Shell has acknowledged for the very first time it coped using a condemned money launderer when negotiating access into a huge oil field in Nigeria.
After e-mails were printed demonstrating Shell negociate with Dan Etete, who was afterwards convicted of money laundering in another case, it comes.
Investigators maintain $1.1bn was passed to a company controlled by Mr Etete.
The Italian company ENI as well as shell and the Nigerian authorities for the rights agreed a deal to use OPL 245, a prime oil block off the shore of the Niger Delta.
The authorities passed on $1.1bn of the cash to a firm called Malabu, which was commanded by Mr Etete, according to Italian prosecutors.
Records filed by the Italian prosecutors maintain that $ 466m of that amount was subsequently laundered through bureau de change and passed to members of his authorities, Goodluck Jonathan, and the then president.

When questioned before, Shell has promised that it simply paid cash to the Nigerian authorities, which took the kind of a sum to settle the long-running legal dispute which had raged on the possession of OPL 245.
However a spokesman has said Shell had participated with Etete and Malabu before signing that deal.
“On the span of many years, Shell made repeated efforts to completely create and comprehend Malabu’s ownership structure, for instance, precise function of Mr Etete in Malabu,” he said.
This is consistent with all the Federal Government of Nigeria’s (FGN) position.
We think the resolution was a completely authorized trade using the FGN,” he added.
‘Altered its melody’
The change comes after International Watch and Finance Uncovered, two anti- corruption charities, released e-mails seen by the BBC which revealed that Shell representatives and Mr Etete were negotiating ahead of the deal was signed.
Among the e-mails was replicated to the chief executive of Shell during the time, Peter Voser, demonstrating knowledge of the participation of Mr Etete went right to the top at Shell.
A campaigner at Global Witness, Rachel Owens, said: “Shell have consistently said they just paid the Nigerian authorities.
In the time the deal reached for OPL 245, it absolutely was in america under a deferred prosecution agreement together with the Department of Justice, settling a case for $30m underneath the Foreign Corrupt Practices Act.
Beneath the conditions of its deal, it had to toughen up internal controls and remain together with the US’ tough anti-corruption laws consistent.

A representative for Goodluck Jonathan told the BBC that no charges or indictments are brought or secured against the prior president relating to the trade and described the claims as a “fictitious story”.