Chief executive and chief operating officer barred amid ongoing investigation over evidence of potential ‘unauthorised payments’
The oil explorer Afren has suspended its chief executive and chief operating officer after discovering "unauthorised payments" had been potentially made for the pair’s benefit.
Afren said the chief executive, Osman Shahenshah, and chief operating officer, Shahid Ullah, had been temporarily barred from the company after an internal review of deals by Afren’s law firm, Willkie Farr & Gallagher. The firm uncovered "evidence of the receipt of unauthorised payments potentially for the benefit of the CEO and COO".