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Former Unaoil executive must pay confiscation order or face further jail time, UK SFO says

( June 17, 2021, 17:54 GMT | Official Statement) -- MLex Summary: Former Unaoil executive Basil Al Jarah must pay 402,466 pounds in confiscation or face a further three years in prison for bribing an Iraqi public official, the UK's Serious Fraud Office announced today. Al Jarah, 72, a former Unaoil country manager for Iraq, pleaded guilty in July 2019 to five charges of conspiracy to make corrupt payments to get oil contracts worth more than $1 billion for Unaoil's client, SBM Offshore, between 2005 and 2012. He made a total of 3.4 million pounds as a result of the bribes, the SFO said, but only has assets amounting to the sum of confiscation. Statement follows....

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