THE ROYAL DUTCH SHELL GROUP OIL & GAS RESERVES SCANDAL

The featured news reports about the reserves scandal include coverage of the flood of multi-billion US dollar class action law suits against the Royal Dutch Shell Group with allegations of misrepresentation and fraud against named Shell directors e.g. the former Group Chairman of the Royal Dutch Shell Group, Sir Philip Watts; Group Managing Director, Malcolm Brinded; former Group Chairman, Sir Mark Moody-Stuart and former President of the Royal Dutch Petroleum Company, Mr Maarten van Den Bergh.

Sir Philip Watts was forced to resign on 3rd March 2004. The other individuals are all current Shell directors. The head of a leading US law firm interviewed on the BBC Radio "File ON 4" programme broadcast on 23 March 2004, forecasts a class action claim against Shell for $15 billion US dollars in damages.  There are official investigations underway by financial regulatory authorities in the UK, the USA, and in The Netherlands, plus a criminal investigation by the US Justice Department and possibly by the UK Serious Fraud Office, with whom we have been in contact.

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