Monaco: Unaoil used global networks to move corrupt funds
16 Jun 2016

The Monaco-based oil company at the centre of a global bribery scandal used a network of offshore accounts and companies to shift funds under the noses of authorities.

The movement of funds around the world by Unaoil – now at the centre of international police probes into allegations it paid bribes – provides a rare insight into what one Unaoil whistleblower has described as the “grey” world of international commerce.

A whistleblower with knowledge of Unaoil’s operations says the company set up banking and company structures offshore to avoid detection as it paid bribes to public officials and private businessmen. The bribes helped Unaoil’s clients win contracts in oil-rich nations.

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