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Niko Resources pleads guilty to bribery in Canada

Calgary-based oil and gas explorer Niko Resources has pleaded guilty to bribery in only the second case of its kind in Canada

AN ALBERTA judge fined the company C$9.5 million ($9.7 million) under Canadian anti-bribery statutes. Niko admitted it offered a Bangladeshi official gifts worth C$190,000 in exchange for favourable compensation treatment related to a blowout and explosion of a gas well in Bangladesh in 2005. Niko provided the country's energy minister with a luxury vehicle and paid non-business expenses for trips to New York and Chicago, it said in a statement on its web site. “What happened was wrong. We acknowledge this. We accept responsibility and we appreciate the seriousness of the actions,” said Niko chairman Ed Sampson. Under the Corruption of Foreign Officials Act, it is illegal for Canadian fir

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