Oil Rig CEO Charged with Bribery

Swiss oil services company Noble, with offices in Sugar Land, Texas, paid $8.1 million in 2010 to settle U.S. charges of corruption. Noble cooperated with the government to uncover the bribery of Nigerian officials.

The SEC filed charges against the company’s former CEO Mark Jackson last month, along with Nigerian division manager James Ruehlen. The civil lawsuit claims Jackson and his colleague “bribed Nigerian customs officials to process phony paperwork showing that Noble’s oil rigs were moved in and out of the country even when they weren’t. The purpose was to save the company substantial costs of exporting rigs from Nigeria and then re-importing them with new permits,” according to an AP report in Nigeria’s The Will.

Jackson denies the SWE charges. His payday is unavailable, but current Noble CEO David Williams earns a total compensation of $9,585,376.

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