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News // Crime

Oil Company To Be Sued For Bribering

08 April 2003 , 11:542471
James Giffen, the US businessman, as well as the company itself were accused of bribering to Kazakhstani officials overseeing the country's lucrative oil concessions.

Mobil was hardly the only foreign oil company that dealt with Mr Giffen, who achieved tremendous influence as an unofficial gate-keeper to the president of Kazakhstan, Nursultan Nazarbayev.

Mr Giffen was accused of violating the Foreign Corrupt Practices Act by funnelling more than $78m in payments from US oil companies - including Mobil, Texaco, Amoco and Phillips Petro leum - to two senior Kazakh officials.

As one business person who consulted companies during the Kazakhstan boom said: "Everybody paid people fees in that part of the world. It was just standard."

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