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Article

15 Jul 2004

Author:
Elliot Blair Smith, USA TODAY

Report rails on Riggs [Washington DC-based Riggs Bank]

The [US Senate] hearing looked at investigators' findings that the bank served as a conduit for several large U.S. oil companies — including Amerada Hess, ExxonMobil and Marathon Oil — to pay hundreds of millions of dollars to relatives of Teodoro Obiang Nguema Mbasogo, the president of Equatorial Guinea...Amerada Hess did not comment. ExxonMobil said it opposes corruption and is committed to "honest and ethical behavior." Marathon Oil executive Steven Guidry vowed "strict adherence" to U.S. law.