Former Afren Oil Executives Get as Much as Six Years in Prison
- Afren’s former CEO and COO were found guilty in U.K. last week
- Osman Shahenshah and Shahid Ullah convicted of fraud by jury
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A U.K. court sentenced the top two executives at collapsed oil and gas producer Afren Plc to as much as six years in prison for masterminding what prosecutors called an elaborate fraud against the company.
Ex-Chief Executive Officer Osman Shahenshah and former head of operations Shahid Ullah were found guilty of fraud and money laundering by a London jury last week. The two men were found not guilty on a separate charge relating to a management buyout of one of Afren’s business partners.