Afren ex-execs accused of fraud
Nigeria “Osman Shahenshah and Shahid Ullah stand accused over payments they received via secret companies they controlled relating to over USD 400 million of Nigeria business deals,” the SFO said in a statement.
They were charged with two counts of fraud by abuse of position, under sections 1 and 4 of the Fraud Act 2006; one count of money laundering, under section 328 of the Proceeds of Crime Act 2002; and one count of money laundering, under section 329 of the Proceeds of Crime Act 2002.
The company’s administrators are suing the two and an associate for USD 500 million, claiming the fraud led to the company’s collapse. The investigation was opened in June 2015.
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