Featured Embezzlement

Nairobi’s Gold-Loving Governor Is Arrested on Corruption Charges

The governor of Kenya’s capital city has made no secret of his love for bling: He has posted photos of a golden lion statue and a gilded  dining room set, and has shown up at meetings draped in  gold jewelry. At rallies, he hands out cash to… Read More

Formations House leak shows need for reforms on creating companies, says anti-corruption chief

Boris Johnson’s anti-corruption champion has said that the UK must “clamp down harder” on corruption after an investigation revealed how a British company registered a global web of businesses linked to international crime gangs. John Penrose, who co-ordinates the response to corruption, said that Britain’s reputation for integrity was vital… Read More

Cameroon’s Cannabis Plans Go Up in Smoke

Gilbert Mvondo is still waiting to be paid for carving dirt roads through the Cameroonian rainforest, where foreign investors promised to create jobs cultivating cannabis and other crops for export. Residents of the southern region of Meyomessala were recruited in early 2016 by local officials to prepare the ground for… Read More
4th December 2019
Ukraine’s state prosecutor office said on Tuesday that Kostyantin Zhevago, the former chief executive of London-listed iron pellet producer Ferrexpo, had been put on an international wanted list. Prosecutors said in a statement they wanted to detain a former lawmaker and former beneficiary owner of Finance & Credit Bank. Tuesday’s… Read More
3rd December 2019
Malaysia’s former leader Najib Razak started his testimony to defend against allegations involving 42 million ringgit ($10 million) of bribes in a case involving a former unit of troubled state fund 1MDB. He read out his statement slowly in a packed courtroom in Kuala Lumpur on Tuesday. In his testimony,… Read More
3rd December 2019
The European Commission has asked Malta to clarify how it intends to address Bank of Valletta’s shortcomings over its monitoring of foreign customers who applied to buy Maltese citizenship under a so-called “golden passport” scheme. Malta, with a population of only 420,000, has sought to attract foreign capital with schemes… Read More
2nd December 2019
Last week, the Global Forum on Transparency and Exchange of Information for Tax Purposes convened in Paris to discuss international efforts to advance tax transparency. Comprising 158 member jurisdictions, the Global Forum is an OECD initiative that works to address the risks to tax compliance posed by non-cooperative jurisdictions. “Ten… Read More
2nd December 2019
It started with a huge hash bust. Following up on a tip, the RCMP set up a stakeout and pounced when a freight truck left a warehouse on Mitchell Island in Richmond. The haul: six tonnes of hashish (a drug made from the resin of cannabis), wrapped in cellophane and… Read More
29th November 2019
Ukraine’s central bank has issued an unprecedented statement accusing local oligarch Ihor Kolomoisky, the former owner of nationalized lender PrivatBank, of orchestrating a campaign of intimidation against the institution and its staff. The National Bank of Ukraine (NBU) has been targeted by protesters accusing the bank’s management of corruption and… Read More
29th November 2019
Brazil’s police and prosecutors can access confidential tax and financial information without a court order, the country’s Supreme Court ruled on Thursday, clearing the way for authorities to reopen an investigation of the president’s son. A majority of the high court’s justices voted to allow public prosecutors in financial crime… Read More
26th November 2019
Two bankers who worked at Coutts private bank in Zurich were fined by the Swiss authorities for failing to report suspicious transactions linked to the sovereign wealth fund 1MDB scandal, it was reported on Sunday. The Sonntag Zeitung and Le Matin Dimanche newspapers reported on Sunday that two Coutts bankers who… Read More
26th November 2019
Cyprus has no plans to stop selling Golden Visas to rich foreigners who invest in the country despite the government’s admission there were laws that let them acquire residency permits and European Union passports without being property vetted – leading to 26 being removed. Cypriot Interior Minister Constantinos Petrides said… Read More
25th November 2019
Spain’s High Court, the Audiencia Nacional, wants to try Rifaat Ali al-Assad, the uncle of Syrian president Bashar al-Assad, and 13 other people for money laundering activities. Judge José de la Mata is targeting Rifaat Ali al-Assad, a former vice-president of Syria, eight of his children and two… Read More