Four former Yara executives indicted with paying bribes in Libya and India

yaraFour former executives of Norwegian fertilizer maker Yara have been with indicted with paying bribes in Libya and India to clinch deals in the two countries.

Norwegian police's economic crime division, Oekokrim, confirmed on Friday that it had indicted Yara's former chief executive Thorleif Enger, former deputy CEO Daniel Clauw, former chief legal adviser Kendrick Wallace, and former head of upstream activities Tor Holba.

The police charged the four persons with either directly negotiating the payments or approving the illegal acts as the fertilizers giant tried to hit joint ventures deals in the two countries.

The four persons allegedly bribed officials, including some family members of former Libyan dictator Muammar Gaddafi's oil minister and the family members of a financial adviser in India's chemicals & fertilizers ministry. In India, the Yara executives illegally paid $1 million to the financial adviser's son to clinch a deal with Krishak Bharati Cooperative Limited (Kribhco).

Enger, Holba and former Yara CFO Hallgeir Storvik were first arrested and charged in May 2012. Later, the charges against Storvik had been dropped.

The formal indictment means the corruption case will now go to trial. The former Yara executives are facing prison terms of up to 10 years.