Bill Allen is the former CEO of VECO Corporation, which provides oilfield services in Alaska. Wayne Veltri established the oil pipeline construction and maintenance firm VECO in Alaska (VECO is short for Veltri Co). He built a for-profit prison in Barbados as well.
VECO also was a worldwide player in the oil industry, having divisions in many major oil markets, including Sudan, Russia, Mexico, Venezuela, and Syria.
Bill Allen, a disgraced oil executive from Alaska, died at 85
The disgraced executive from Alaska’s oil services, Bill Allen, passed away in Colorado on Wednesday, according to a Grand Junction funeral home. He was 85.
Death’s exact reason is still a mystery.
In the middle of the 2000s, a political corruption scandal involving Alaska involved Allen and Veco, his oil field services business. After entering a guilty plea in 2007 to bribery charges, Allen served as the main government witness. Several state representatives who accepted cash from Allen and Veco were given prison sentences.
Bill Allen Age, Family, and Early Life
Bill Allen was born on April 6, 1937. Allen was born in New Mexico and at the age of 16 left for the oil fields of Alaska to become a welder to help support his family.
According to online reports he was born to Alexandre Allegrov and Serafima Sosnovskaya. As of now, we don’t have much information regarding his personal life.
We will update this section soon.
Bill Allen Career, What was his profession?
Aground on Bligh Reef on March 24, 1989, the oil tanker Exxon Valdez spilled eleven million gallons of crude oil into Prince William Sound. The Exxon Valdez oil disaster, which came in second place to the BP Deepwater Horizon oil leak in the Gulf of Mexico, was the largest in American history.
Under Allen’s direction, VECO hired 2,500 workers to clean up the environmental catastrophe, along with its unionized subsidiary NORCON, who handled the majority of the spill’s cleaning.
In the Alaska political corruption investigation, Allen and VECO’s vice president for community and government affairs Rick Smith entered a guilty plea on May 7, 2007, to charges of extortion, bribery, and conspiring to obstruct the Internal Revenue Service.
The charges involved bribing Alaska lawmakers to vote in favor of an oil tax law favored by the VECO that was the subject of vigorous debate during the regular and two special sessions of the Alaska Legislature in 2006 Bill Allen’s testimony, at the trial of his former friend, Alaska Senator Ted Stevens, helped secure Stevens’ conviction, in U.S. District Court on charges of felonious corruption.
Resignations of Bill Allen
The VECO Corporation announced the resignations of CEO Bill Allen and Vice President for Community & Government Affairs Rick Smith on May 11, 2007. Tammy Kerrigan, Allen’s daughter, took over as chairman of the board after him. No new CEO had been selected. The future of the Vice President for Community & Government Affairs role was unclear.
VECO Corporation was sold to the Colorado-based CH2M HILL corporation in September 2007. It is believed that VECO was obliged to sell for much less than its market value because of the political investigation’s shadow over its head.
Though he had no legal obligation to do so, Allen negotiated that 5% of the proceeds from the sale of VECO be given to the employees for the years of service they had given the company. Tens of millions of assets including the Norcon division yard in Anchorage and other Alaskan and foreign properties were retained by the family.
Which school did he go to?
Currently, we don’t have any information regarding his educational journey.
Bill Allen Wife, What about his relationship?
Allen is a married man and has three children Kerrigan, Mark Allen, and Shannon West.
Bill Allen Net Worth, How much does he earn?
The net worth of Bill Allen is under the wraps.
Is he available on any kind of social media platform?
He does not seem to be available on any social media.
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