September 5, 2008

Former U.S. Exec Admits Nigerian Bribe

A former executive of a U.S. company has pleaded guilty to bribing Nigerian officials to share in a $6 billion project, officials in Lagos say.

Albert Stanley, formerly with Global Engineering, Construction and Services Co. of Houston, admitted the bribe to secure contracts to build liquefied natural gas facilities in Bonny Island.

He admitted in Houston federal court that he paid $182 million for engineering, procurement and construction contracts, the U.S. Justice Department said.

The project was valued at more than $6 billion. Stanley's firm was part of a four-company joint venture awarded four EPC contracts by Nigeria LNG Limited between 1995 and 2004, the This Day publication said.

Stanley faces, under a plea arrangement, seven years in prison and payment of $10.8 million in restitution.