U.S. Bribery Case Sheds Light on Mysterious Chinese Company
- 6 years ago
U.S. Bribery Case Sheds Light on Mysterious Chinese Company
In meetings at the United Nations, Mr. Ho, a former Hong Kong civil servant, laid the groundwork for millions of dollars of payments to the president of Chad
and Uganda’s foreign minister in exchange for oil rights in the two countries, federal prosecutors say.
The complaint does not name the Chinese company Mr. Ho represented,
but the specifics of the case make clear the company’s identity: CEFC China Energy Company.
It said it was “highly concerned” about the action taken against Mr. Ho, a former home affairs secretary in Hong Kong, and added
that the think tank did not “get involved in business activities of CEFC.”
CEFC has emerged from obscurity in recent years as a major player in the China’s plans for a modern day Silk Road, scooping up businesses in the oil, travel
and financial industries in the Czech Republic, Kazakhstan, Spain and the Middle East.
CEFC wanted to expand its oil operations into Chad,
and to do so with CNPC, a state-owned Chinese company facing a $1.2 billion fine in Chad for environmental violations.
But Chad’s fine against CNPC was ultimately lowered to $400 million,
and CEFC is in talks to develop an oil project in the country with CNPC, according to the CEFC website.
Details outlined by the Justice Department reveal the innovative tactics the company pursued to secure coveted oil rights in Chad
and Uganda through its nonprofit think tank in Hong Kong.
In meetings at the United Nations, Mr. Ho, a former Hong Kong civil servant, laid the groundwork for millions of dollars of payments to the president of Chad
and Uganda’s foreign minister in exchange for oil rights in the two countries, federal prosecutors say.
The complaint does not name the Chinese company Mr. Ho represented,
but the specifics of the case make clear the company’s identity: CEFC China Energy Company.
It said it was “highly concerned” about the action taken against Mr. Ho, a former home affairs secretary in Hong Kong, and added
that the think tank did not “get involved in business activities of CEFC.”
CEFC has emerged from obscurity in recent years as a major player in the China’s plans for a modern day Silk Road, scooping up businesses in the oil, travel
and financial industries in the Czech Republic, Kazakhstan, Spain and the Middle East.
CEFC wanted to expand its oil operations into Chad,
and to do so with CNPC, a state-owned Chinese company facing a $1.2 billion fine in Chad for environmental violations.
But Chad’s fine against CNPC was ultimately lowered to $400 million,
and CEFC is in talks to develop an oil project in the country with CNPC, according to the CEFC website.
Details outlined by the Justice Department reveal the innovative tactics the company pursued to secure coveted oil rights in Chad
and Uganda through its nonprofit think tank in Hong Kong.