World Bank blacklists anonymous UK firm acting ‘fraudulently’

31st March 2021 / NewsBits
  • The World Bank has blacklisted an anonymously owned UK shell firm after exposing “fraudulent practices” in an emergency medical aid programme.
  • In the latest blow to the reputation of British corporate governance, the lender has banned Edinburgh-registered NovoLine Resources LP from bidding in its procurement processes for three and a half years.
  • The move came after an investigation into contracts the firm won to supply vital equipment to Uzbekistan’s health ministry.
  • Officials at the World Bank, which was funding the purchases, found that NovoLine Resources had submitted fake documents, including false financial statements and a false past sales contract to supply similar kit.



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