Anger Rises Over Oil Drilling in Endangered Elephants Last Stronghold ens-newswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ens-newswire.com Daily Mail and Mail on Sunday newspapers.
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ReconAfrica, a Canadian company exploring for oil and gas upstream of one of Africa’s most lush and wildlife-rich habitats, may have fraudulently misled investors by misrepresenting its work on the project, according to several experts and allegations in a whistleblower complaint filed with the U.S. Securities and Exchange Commission (SEC).
The whistleblower, who acknowledged having submitted the report confidentially to avoid retribution and harassment, allowed
National Geographic to review the 44-page confidential complaint filed on May 5. It alleges that, to drive up its stock price, ReconAfrica has violated securities laws by failing to disclose crucial information about its plans to look for oil and gas deposits across 13,200 square miles of sensitive wilderness in Namibia and Botswana, a region that includes part of the watershed of the world-famous Okavango Delta and six community-run wildlife reserves.