Featured Embezzlement

Portugal probes Angola leaks as Eurobic bank distances itself from dos Santos

Portuguese authorities said on Monday they had started investigating media reports concerning Angolan billionaire Isabel dos Santos, while a small bank said it had decided to put an end to commercial relationships with entities she controls. This was the latest fallout from increased scrutiny of Angola’s former first daughter, a… Read More

Luxembourg’s fund sector faces risk of abuse

Drug trafficking, fraud, forgery, tax crimes, corruption and bribery are “very high threats” to the Luxembourg funds industry, according to a study by the country’s financial regulator. The risk for abuse is high in the Grand Duchy, according to the CSSF’s first national risk assessment of money laundering and terrorist… Read More

Western Advisers Helped An Autocrat’s Daughter Amass And Shield A Fortune

Pausing at the entrance to a star-studded bash at the Cannes Film Festival, ’90s icon Sharon Stone flashed her one-of-a-kind cuff bracelet. It was a wraparound hippo with rubies for eyes, sapphire nostrils and white diamond teeth. Its body was covered in brown, gray and white diamonds. The dazzling ornament… Read More
20th January 2020
When a fleet of luxury cars dropped off the well-heeled pastors of a South London church near Mayfair on New Year’s Eve, their lavish black-tie gala was marred by a media storm surrounding allegations of financial fraud. But as churchgoers gathered for selfies, they seemed to take scant notice… Read More
17th January 2020
A British prosecutor launched a fresh attempt on Thursday to confiscate tens of millions of pounds stolen from an oil-producing state in Nigeria by its former governor, who was convicted of laundering his loot in Britain. James Ibori, who was governor of Delta State from 1999 to 2007, pleaded guilty… Read More
15th January 2020
The new year promises to be an interesting one in white-collar crime. Goldman Sachs is negotiating with the Justice Department to pay a penalty of about $2 billion for its role in the 1Malaysia Development Berhad scandal, known as 1MDB. Accounting fraud became a particular focus of the Justice… Read More
14th January 2020
The UK’s first ever cross-government, public-private Economic Crime Plan, a collection of policy, legislative and operational commitments, was published just days before the passing of the baton from Theresa May to Boris Johnson. In this respect, the plan could be viewed as a cuckoo in Prime Minister Johnson’s policy… Read More
14th January 2020
Haiti’s president has denied accusations of participating in a $2 billion (£1.5bn) corruption scheme, as he admitted on the tenth anniversary of the devastating earthquake that his country remains “in constant crisis”. Jovenel Moise on Sunday visited the memorial at the nation’s largest mass grave, where tens of thousands of… Read More
10th January 2020
Uzbekistan’s Supreme Court in Tashkent said it put on Wednesday Gulnara Karimova, the eldest daughter of the late Uzbek President Islam Karimov, on trial for extortion, embezzlement of budget funds and money laundering abroad. Earlier this week, the Office of the country’s Prosecutor General announced it has completed… Read More
9th January 2020
Switzerland’s Federal Police Office (Fedpol) deported two Italian citizens suspected of involvement in organized crime in 2019, marking the first time individuals have been forcibly expelled from the country on national security grounds because of their alleged ties to the mafia, according to German-language newspaper Neue Zürcher Zeitung. The move reflects… Read More
9th January 2020
Bolivia’s interim government said Wednesday it would launch a corruption probe into nearly 600 officials of the former government, including ex-president Evo Morales. “It has been decided to initiate investigations against 592 former officials,” Mathias Kutsch, the justice ministry’s chief anti-corruption investigator, told a press conference. The probe will include… Read More
8th January 2020
Malaysian investigators played audio recordings of former premier Najib Razak seeking help from people including a member of Abu Dhabi royalty and former prosecutors to try to untangle himself from the 1MDB scandal in 2016. One of the clips show Najib reaching out to Abu Dhabi’s Crown Prince… Read More
7th January 2020
AP — The International Olympic Committee will ask a German broadcaster to share evidence of alleged doping cover-ups in weightlifting and financial irregularities linked to the sport’s revenues from the games. The program broadcast Sunday by ARD implicated the International Weightlifting Federation and its long-time president, Tamas Aján, an… Read More