So the Elomars’ fortunes were dramatically changed when their associate Roniotis helped facilitate the purchase of Cloudy Bay. Cloudy Bay Sustainable Forestry – the timber permit was said to be able to generate tens of millions of dollars a year. Photograph: Cloudy Bay Sustainable ForestryClaim and counter-claimDespite acquiring Cloudy Bay at a “fire sale” price, as O’Neill later put it, Lifese Engineering and OPPA failed to pay the final K25 million they owed by the stipulated 12-month due date. In September 2017, the Elomar brothers were sentenced to four years in jail after pleading guilty to the Iraq bribery charges. The Elomar brothers declined to answer a detailed list of questions from the Guardian or to comment publicly on the case.

Source: The Guardian February 12, 2021 18:56 UTC