By John Lee.
An investigation by Fairfax Media — publisher of The Age and The Sydney Morning Herald newspapers — and The Huffington Post, claims that Monaco-based Unaoil channelled huge bribes to government officials on behalf of its clients to help win billions of dollars worth of government contracts.
Family owned and controlled, Unaoil was founded by the Iranian-born Ata Ahsani, who left Tehran at the time of the Islamic revolution.
In Iran, the company acquired the Iranian business of Scottish engineering company, Weir Group, in 2006. It also formed a joint venture with local oil company PetroAram, and used its network in Iran to assist firms such as ABB, Elliot and Japan’s Yokogawa.
The company said it “strenuously [denies] any wrongdoing and consider[s] the allegations to be baseless and entirely false.”
(Source: The Age)