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Bullboard - Stock Discussion Forum Longford Energy Inc V.LFD

TSXV:LFD - Post Discussion

Longford Energy Inc > Guilty Plea to Bribe!!!!!
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Post by taxdemicco on Jun 24, 2011 2:50pm

Guilty Plea to Bribe!!!!!

Hello Everyone,

Found this article today. You don't have to question whether LFD is being manipulated. LFD being held down. Now we may begin to suspect that it might be cause of Niko whom may want LFD assets for cheap or for a merger.



Look at the guilty verdict below.

Niko Resources pleads guilty to bribe of Bangladeshi minister; fined $9.5M

capress

, On Friday June 24, 2011, 1:37 pm EDT

By Lauren Krugel, The Canadian Press

CALGARY - Oil and gas company Niko Resources Ltd. has agreed to a fine almost $9.5 million after admitting in court that it bribed a Bangladeshi government minister with the use of a vehicle and a trip to North America.

Calgary-based Niko (TSX:NKO) pleaded guilty to a single charge of providing goods or services to influence the acts or decisions of the foreign state.

Besides agreeing to the fine totalling $9,499,000, the company also agreed to a statement of facts read in court and to be on probation for thee years during which the courts would monitor its activities.

The value of access to the vehicle, a Toyota Landcruiser, was $190,984 and the value of travel was $5,000.

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.

Note to readers: Recasts lede to say Niko has "agree to" the fine

Comment by drdjm on Jun 24, 2011 5:50pm
"The value of access to the vehicle, a Toyota Landcruiser, was $190,984 and the value of travel was $5,000". ....I never heard of a 191,000. Land Cruiser. Must have been the loaded model with a 3 axle camel trailer with 4 slideouts and leather, air, GPS, and 70 virgins included. Or 90K and the remainder under the seat.Derek
Comment by EandP on Jun 26, 2011 1:28am
SUVs are very expensive in many third world countries as governments often charge import tax rates in the 100-400% range. That's how you get CAD190k land cruiser - btw was that USD or CAD - remember back then CAD was at major discount to USD
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