28 Jul 2016
The law firm at the center of the Panama Papers leak may have helped facilitate an alleged multi-million corruption scheme tied to Sonatrach contracts won by Saipem.
The International Consortium of Investigative Journalists found that Mossack Fonesca helped Farid Bedjaoui create a Swiss bank account that was used to purchase “shelf” companies in the Caribbean.
Italian prosecutors allege that Bedjaoui, the nephew of a former Algerian foreign minister, orchestrated about $275 million in bribe payments to help Saipem win $10 billion worth of pipeline contracts from Algeria’s Sonatrach, the New York Times said.
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