The Swiss attorney general has blocked huge amounts of money that petroleum companies allegedly paid to politicians to get access to Nigeria’s oil riches.
Swiss banking may be at the center of another huge corruption scandal: Eni, the Italian energy group, and Shell reportedly have paid millions of dollars in bribes, money that ended up in Switzerland.
The judiciary in Italy and Nigeria claim that the companies involved in the corruption scandal may have paid as much as $800 million to a former energy minister in the oil-rich African nation to get a hold on exploration rights. The two companies rejected the claims.
In Cooperation With Italy
The Swiss attorney’s office became active at the instigation of the Italian counterparts. The Swiss body confirmed to Switzerland's «AWP» newswire (behind paywall) that it blocked money on bank accounts. The authorities however didn’t reveal the banks where it took action or the amounts involved, but the sums mentioned in media reports reach hundreds of millions of francs.
Several Corruption Cases Pending
The Swiss authorities have their hands full getting to grips with corruption cases involving Swiss banks. The attorney general is probing cases involving football authority FIFA, Brazil’s Petrobras and 1MDB, the state fund.
The repayment of cash seized in Switzerland to the rightful owners recently caught the headlines because a group of MP’s launched a legal bid to enforce such payments.
