The Times: Shell agrees to pay fines of £83m
“continuing criminal investigation by the US Department of Justice.”: “Both Euronext and AFM, the Dutch securities institute, are also investigating Shell”
By Carl Mortished, International Business Editor
July 30, 2004
SHELL will pay fines totalling £83 million to UK and US stock market regulators as a penalty for offences of market abuse and violation of securities laws relating to its misreporting of oil and gas reserves.
The payments, revealed yesterday by the oil company in a statement that did not concede liability, include £17 million to the Financial Services Authority, the largest fine ever imposed by the UK regulator, and a $120 million (£66 million) civil penalty to the Securities and Exchange Commission.
Shell’s chairman, Jeroen Van der Veer, said the agreement meant there would be no further claims against the company by the FSA or the SEC.
He said the settlement was “a hopeful step in dealing with the reserves issue”. He would not comment on whether settlement with the SEC was a favourable signal in relation to the continuing criminal investigation by the US Department of Justice.
Both Euronext and AFM, the Dutch securities institute, are also investigating Shell for breach of stock market regulations.
The company could still face lengthy litigation from class action and derivative shareholders lawsuits already launched in the US.
Shell would not comment on the status of SEC or FSA investigations into the actions of former Shell executives, notably Sir Philip Watts, the former chairman.
Tim Morrison, acting finance director, said: “These (fines) do make the eyes water. They are not trivial.”
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
