Investigation: How Oil Industry Expatriates Stole A Business Empire From Its Owner

WAV / STG IN THE BEGINNING
Expatriates who were brought on board, in 2002, to manage the fast growing West African Ventures (WAV), a Nigerian company providing offshore engineering services, have conspired to hijack the business from its owner, investigation uncovered.

Jacques Roomans, founder of WAV had hired Fraser Moore, Stephen Assiter, Graham Pennycook and other expatriates to oversee WAV/STG businesses in Nigeria and West Africa.

The business was largely managed by Fraser who served as the chief operating officer/managing director for many years. And in March 2013, the expats led by Fraser, instigated Jacques to take a bond for $575million ostensibly for the growth of his business.



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