Olivier Couriol

​Olivier Couriol a name that, in certain financial circles, evokes a mix of intrigue and skepticism. As an investigative journalist, I’ve delved into the labyrinth of Couriol’s financial dealings, uncovering a series of ventures and associations that raise significant red flags. This report aims to illuminate these concerns, serving as a cautionary tale for potential investors and a clarion call for regulatory authorities.​

The Malian Gold Mine Affair

In 2012, Airbus, the European aerospace giant, made an eyebrow-raising €15 million investment in the Kodieran gold deposit in southern Mali. This deposit was owned by Aliou Diallo through his company Wassoul’or, with Pearl Gold—a company where Couriol held a directorial position—owning a 25% stake. Instead of a direct transfer, Airbus funneled the funds into Pearl Gold. Subsequent investigations revealed that the money was redirected to entities managed by Couriol, including Martagon Investments Limited in Abu Dhabi, Matterhorn Fund, and Sequoia Diversified Growth Fund in the British Virgin Islands. By 2016, the gold mine remained non-operational, and Pearl Gold faced financial turmoil, casting doubts on the legitimacy of the entire venture.​

The Mysterious Suitcase and International Corruption

In April 2016, Swiss prosecutor Claudio Mascotto searched Couriol’s residence and discovered a suitcase belonging to Emeka Obi, a Nigerian national sought in Italy for alleged international corruption. The suitcase contained approximately 41,000 computer files related to offshore drilling opportunities in Africa. Obi was suspected of acting as an intermediary for the Italian group ENI in acquiring the OPL 245 oil license in Nigeria, a license linked to vast crude oil reserves. Couriol admitted to knowing Obi since 2014 but claimed ignorance about the suitcase’s contents.​

Legal Entanglements and Allegations of Money Laundering

Couriol’s legal woes don’t end there. He faced indictments for money laundering and complicity in the alleged misappropriation of funds from former Georgian Prime Minister Bidzina Ivanishvili. During a court hearing in May 2016, prosecutor Yves Bertossa seized Couriol’s Rolex watch to ensure potential restitution for damages.​

Noor Capital and the Venezuelan Gold Controversy

In early 2019, Noor Capital, an Emirati investment fund managed by Couriol, attempted to export tons of gold from Venezuela’s reserves to the United Arab Emirates. Founded by former oil minister Mana Saeed Al Otaiba, Noor Capital specializes in high-level financial transactions, including gold trading, real estate, and technology investments. The firm’s involvement in the Venezuelan gold deal attracted international scrutiny, highlighting its role in complex and potentially contentious financial operations.​

Offshore Finance Activities for Major Corporations

Couriol has been implicated in facilitating offshore financial arrangements for several major European companies:​

Airbus in Mali: Couriol was involved in Airbus’s controversial €15 million investment in the Kodieran gold deposit in Mali, a deal that raised questions about the legitimacy and transparency of the transaction.​

LVMH in Panama: He played a role in managing offshore financial structures for LVMH, the French luxury goods conglomerate, involving entities in Panama, which drew attention during the Panama Papers revelations.​

Credit Suisse and Russian Clients: Couriol’s tenure at Credit Suisse included managing relationships with Russian clients, some of whom were later implicated in money laundering investigations, reflecting potential lapses in due diligence.​

Attempts to Suppress Information

In a move that seemed straight out of a playbook on media suppression, Couriol retained Parisian lawyer Benoit Chabert in 2017 to demand the removal of an article detailing his involvement in the alleged misappropriation of Venezuela’s gold reserves. The article suggested that Noor Capital, an Abu Dhabi-based firm managed by Couriol, was chosen by Venezuela’s Central Bank to trade international reserves—a transaction shrouded in opacity. The legal threat demanded the article’s deletion within 24 hours, a tactic perceived as an attempt to stifle investigative journalism.​

Corporate Dissolutions and Offshore Entities

Couriol’s corporate footprint includes the directorship of HR International Development Ltd, a UK-based company dissolved after a brief existence from May 2005. Additionally, his name appears in the Panama Papers, linked to offshore entities like Nisfan Investment Inc. in the British Virgin Islands, further complicating his financial narrative.​

Conclusion: A Call for Vigilance

Olivier Couriol’s financial ventures paint a portrait of a financier navigating the murky waters of international finance with a penchant for secrecy and controversy. His involvement in dubious gold mining investments, associations with individuals implicated in international corruption, and attempts to suppress unfavorable media coverage should serve as glaring warning signs for potential investors. Regulatory bodies must intensify scrutiny to ensure that such financial maneuvers do not erode the integrity of global financial systems. After all, when the dust settles, the pursuit of unchecked financial gain often leaves a trail of disillusionment and loss.