US corruption probe examines Manx bank accounts

Friday, 1 September 2017 07:30

By Jason Roberts @ChpsChsGrvy

Investigators in America say they suspect Isle of Man bank accounts controlled by a Chinese-owned oil company were used to pay bribes in Nigeria.

A probe's been launched after Addax, owned by the China Petroleum & Chemical Corporation, paid £20 million for legal advisers in 2015.

Auditor Deloitte says the payments from Manx and Nigerian accounts may have been siphoned off to government officials in Africa.

It says it's had whistle-blowing allegations from Addax staff claiming some of the company's managers may also have profited illegally.

More from Isle of Man Business

National Risk Assessment looks at virtual assets sector

There's a 'medium' risk of money laundering in the Island's virtual assets sector, according to a new report.
Law changes aimed at improving transparency on company ownership

The government's set out proposals aimed at making it easier to identify who owns and controls Island companies.
Bushy's is branching out into spirits

A Manx brewery is preparing to launch a new range of spirits this week.
Open day at new gym this weekend

A new gym in Douglas is opening its doors for the first time this weekend.
Businesses encouraged to have quiet hours for neurodivergent people

Businesses across the Island are being encouraged to introduce "quiet hours" in the wake of Autism Acceptance Month.
Chance of comeback for city centre takeaway

There's a chance a Douglas takeaway might get a new location and get back into business.
Workshop about neurodivergence in the workplace

A workshop about how businesses can support and benefit from neurodivergent employees will be held next week.
Island to host major shipping conference

A huge shipping conference will be held on the Island later this summer.