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Naeem Tyab to serve bribery term in low-security prison

2023-11-29 20:17 ET - Street Wire

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by Mike Caswell

After weeks of back-and-forth, Vancouver's Naeem Tyab has avoided the prospect of serving his sentence for a 2011 bribery scheme in a medium-security prison. The U.S. Bureau of Prisons has agreed to assign him to a low-security institution in California, where he will serve his three-year term. The prison reassignment comes after Mr. Tyab, 57, complained to the judge about being sent to an institution with dangerous, violent and escape-prone inmates.

The change of heart by prison officials comes as part of a case in which prosecutors cited Mr. Tyab for a bribery scheme involving Griffiths Energy International Inc., a then-private Calgary company that is now part of Glencore PLC. According to prosecutors, officials from the African country of Chad solicited and accepted bribes from Mr. Tyab and, in return, agreed to use their positions to influence the awarding of oil rights. There was no trial for Mr. Tyab, as he pleaded guilty to a charge of conspiracy to violate the Foreign Corrupt Practices Act. The judge later sentenced him to three years in prison.

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