By Colleen Barry | AP December 20 at 12:28 PM
MILAN — Shell and Eni as well as former and current executives will face trial over a $1.1 billion bribery scandal to take control of one of Africa’s most lucrative oil blocks in Nigeria, a judge in Milan ruled Wednesday.
Anti-corruption campaigners say the trial, which is set to open March 5, will be the biggest corporate bribery trial in history, citing the heft of the two major oil companies involved. In all, 15 individuals face charges, including Eni’s current and former CEOs.
According to Milan prosecutors, $520 million of the $1.1 billion paid into an escrow account was converted into cash and distributed as bribes, while several hundred-million more went to a former oil minister.
Both Anglo-Dutch Shell and Italy’s Eni issued separate statements denying wrongdoing and expressing confidence that the court would exonerate the individuals charged and the companies themselves. Both companies are also under investigation in the case in the Netherlands and face charges in Nigeria. read more
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