Thursday, January 16, 2020

Firm At Centre Of Lekoil Scandal Struck Off By Authorities In Bahamas

(Alliance News) - A company at the centre of allegations that London-listed oil firm Lekoil Ltd was tricked into thinking it would get a USD184 million, or GBP141 million, loan from Qatar has been struck off by authorities in the Bahamas.

But the PA news agency understands Seawave Invest Ltd could have had its business licence removed before Lekoil handed over a USD600,000 fee, raising further questions over the oil firm's due diligence.

Seawave was struck off between December 9, 2019 and January 13, 2020, according to data from Open Corporates, a global companies database, potentially prior to Lekoil announcing the deal on January 2.  Read more >>