Calgary-based Niko Resources admits to bribery

Posted Jun 24, 2011 1:48 pm.

This article is more than 5 years old.

Niko Resources Ltd. has plead guilty to bribery charges in a Calgary courtroom.

In an agreed statement of facts the company admitted to attempting to gain a business advantage by gifting a $200,000 SUV to the Bangladeshi energy minister and covering a $5,000 travel tab.

The fine is $9.5 million and three years probation represents the largest penalty ever in Canada for corruption of a foreign official.

The bribes were made after explosions at one of Niko Resources’ natural gas fields, resulted in a rash of protests from nearby villagers.

There is no indication that the bribes were effective.

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