articleCase Details
Expatriate personnel within an upstream Oil & Gas company were found to be engaging in a sophisticated contract fraud scheme, inflating costs and siphoning funds intended for legitimate projects.
folder_openEvidence Provided
The anonymous report included meticulously falsified invoices, questionable contract amendments, and communication logs that exposed the intricate network of fraudulent activities across multiple projects.
- check_circleFalsified Invoices: Meticulously altered billing records designed to inflate costs.
- check_circleContract Amendments: Questionable changes to agreements lacking proper authorization.
- check_circleCommunication Logs: Emails and messages revealing coordination between the expatriates.
paymentsMonetary Amount
Over $2.5M (approximately N3.7B) in fraudulent contract values were identified, with over half of the funds recovered through legal proceedings and enforcement actions.
gavelThe Outcome
The company, alerted by the anonymous report, initiated an extensive internal investigation that corroborated the findings. The expatriates involved were suspended and subsequently faced criminal charges in Nigeria for fraud. The company recovered substantial losses, and this case led to a comprehensive overhaul of procurement and contracting processes within the organization.