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Niko Resources pleads guilty to bribe charge,[link widoczny dla zalogowanych]
CALGARY-Oil and gas company Niko Resources Ltd. was fined almost $9,[link widoczny dla zalogowanych].5 million Friday after admitting in court that it bribed a Bangladeshi government minister with the use of a vehicle and a trip to North America,[link widoczny dla zalogowanych].
Calgary-based Niko pleaded guilty to a single charge of providing goods or services to influence the acts or decisions of the foreign state,[link widoczny dla zalogowanych].
The bribes were made after explosions at one of Niko's natural gas fields resulted in a rash of protests from locals in a nearby village and elevated concerns about the environment surrounding the property,[link widoczny dla zalogowanych].
The company said in a release prior to the court session that the guilty plea was expected to "resolve all matters investigated by the RCMP in relation to Niko's activities."
On the Toronto Stock Exchange,[link widoczny dla zalogowanych], Niko's shares sank $2.67,[link widoczny dla zalogowanych], or more than four per cent, to $62.25.
The RCMP recently launched an initiative to issue fines for foreign bribery under Canada's Corruption and Foreign Public Officials Act,[link widoczny dla zalogowanych].
The president of anti-corruption group Transparency International Canada earlier called the indictment of Niko a "great start,[link widoczny dla zalogowanych]."
"Until now there's really been no enforcement of the Corruption of Foreign Public Officials Act,[link widoczny dla zalogowanych], and although Canada set up the international anti-corruption unit of the RCMP a few years ago,[link widoczny dla zalogowanych], we've been waiting anxiously for some fruit of that labour, and this is the beginning of it,[link widoczny dla zalogowanych]," said James Klotz.
Niko operates mostly in India and Bangladesh but also explores,[link widoczny dla zalogowanych], develops and produces natural gas and oil in Pakistan, Kurdistan, Indonesia,[link widoczny dla zalogowanych], Trinidad and Madagascar.
In 2009, Niko announced that Canadian officials were investigating improper payments by either Niko, or its Bangladeshi subsidiary,[link widoczny dla zalogowanych], to government officials in the country.
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