In court, Zarrab laid out how he paid tens of millions of dollars in bribes to Turkish government officials and banking executives to win their assistance—and cover—for the money laundering operation. He dropped a bombshell on his second day of testimony, when he implicated Erdogan as part of the scheme, saying he was told Turkey’s […]

Over six days on the stand, a star witness for the FBI spun a stunning tale of corruption and double-dealing. Looking nervous and somber, the FBI’s star witness entered from the lockup and shuffled across the New York federal courtroom in a beige prison smock. The Turkish-Iranian gold trader took a seat at the witness […]

Schlumberger Oilfield Holdings (SOHL), a wholly owned subsidiary of Schlumberger Ltd (Schlumberger), the world’s largest oil-field services company, has entered into a plea agreement with the US Department of Justice (DOJ) to settle allegations of violating US sanctions in Iran and Sudan.Under the plea arrangement, which is subject to approval by the courts, SOHL will […]

It has been reported that French oil and gas giant Total SA on Monday said it had set aside $398 million to pay for an expected settlement with U.S. regulators over possible bribes made to Iranian officials in violation of the Foreign Corrupt Practices Act. In a filing with the U.S. Securities and Exchange Commission, […]