Sinopec Probed by the U.S. Over Nigeria Payments

U.S. authorities are investigating China Petroleum & Chemical Corp. over allegations that the state-controlled oil producer paid Nigerian officials about $100 million worth of bribes to resolve a business dispute, according to people familiar with the probe.

Investigators from the Securities and Exchange Commission and Justice Department are looking into allegations that outside lawyers acting as middlemen for the company, known as Sinopec, funneled illicit payments from its Swiss unit to the Nigerians through banks in New York and California, said the two people, who didn’t want to be named discussing an active investigation.

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