Conviction For Fraud
In 2003, Auchi was convicted of fraud following his involvement in a $504 million corruption scandal centred around the French oil company Elf Aquitaine, described as "the biggest political and corporate sleaze scandal to hit a western democracy since the second world war". Auchi was given a $ 2.8 million fine, along with a 15 month suspended jail sentence, for his involvement in the 1991 purchase by Elf Aquitaine of various Spanish oil refineries and petrol stations, having been accused by prosecutors of funnelling $118 million of illegal commissions back to the Elf executives who had initially set up the deal.
Following the verdict, Elf (by now merged with TotalFina and renamed Total) decided to take legal action against Auchi in France; Auchi responded by suing Total for $327 million in turn, this time in the UK.
Read more about this topic: Nadhmi Auchi
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