New Report Evaluates Sanctions Programs in Sub-Saharan Africa
25th October 2019
New Report Evaluates Sanctions Programs in Sub-Saharan Africa
Sanctions programs levied on some Sub-Saharan African countries could be made more effective by targeting specific networks rather than comprehensive sanctions against an entire country, a new report says. The report, published by policy advocacy group The Sentry on Thursday, evaluates the effectiveness of sanctions programs currently or previously… Read More
Nigerian anti-graft office charges two Britons in connection with failed gas deal
22nd October 2019
Nigerian anti-graft office charges two Britons in connection with failed gas deal
Nigeria’s anti-fraud office on Monday charged two Britons in the capital, Abuja, for alleged money laundering in connection with an ill-fated gas deal that has left the government facing a disputed bill of more than $9 billion. James Richard Nolan and Adam Quinn pleaded not guilty in an Abuja court… Read More
Ex-Credit Suisse Banker Hid $45 Million, Names Four Others
18th October 2019
Ex-Credit Suisse Banker Hid $45 Million, Names Four Others
A former Credit Suisse Group AG banker told a federal jury in New York that he alone pocketed at least $45 million in a massive kickback scheme and named other ex-employees of the bank he says made millions of their own. Testifying on Wednesday, Andrew Pearse recited the illicit… Read More
How Hezbollah’s Terrorist Financing Roots Grew into the Drug World
17th October 2019
How Hezbollah’s Terrorist Financing Roots Grew into the Drug World
Understanding why Hezbollah has deep roots in the drug trade requires a historical view of Lebanon. Read More
Ex-Credit Suisse Bankers Will Testify in Mozambique Bribery Case
16th October 2019
Ex-Credit Suisse Bankers Will Testify in Mozambique Bribery Case
At least two former Credit Suisse Group AG bankers will testify for the U.S. at a federal trial this week, describing their roles in what the Justice Department says was a $2 billion kickback scam in Mozambique. Andrew Pearse, who headed the global financing group in the bank’s London… Read More
U.S. sanctions brothers at center of South African graft scandal
11th October 2019
U.S. sanctions brothers at center of South African graft scandal
The United States on Thursday sanctioned the three Gupta brothers at the center of the South African corruption scandal that contributed to the downfall of former President Jacob Zuma, saying they had misappropriated state assets. The U.S. decision to impose financial restrictions on the brothers is a public relations victory… Read More
‘Everything was cool’: Zuma son denies wrongdoing at graft inquiry
8th October 2019
‘Everything was cool’: Zuma son denies wrongdoing at graft inquiry
Ex-South African president Jacob Zuma’s son Duduzane denied wrongdoing at a graft inquiry on Monday, dismissing testimony of two witnesses who placed him in the room when friends of his father are alleged to have offered large bribes. Duduzane Zuma is a key witness at the so-called “state capture” inquiry… Read More
Going, going, gone: African dictators losing luxury lifestyle amid money laundering crackdown
7th October 2019
Going, going, gone: African dictators losing luxury lifestyle amid money laundering crackdown
Judging by the fleet of supercars parked in the grounds of Geneva’s Bonmont Golf and Country Club last Sunday, Teodorin Obiang was not overly fussed by the size of his carbon footprint. There were 25 in total, representatives of every luxury model conceivable, from Aston Martin to Bugatti and Ferrari,… Read More
Kenya finds $71 mln in suspect cash as it retires old notes -cenbank
3rd October 2019
Kenya finds $71 mln in suspect cash as it retires old notes -cenbank
A Kenyan anti-corruption drive uncovered the equivalent of tens of millions of dollars in unexplained wealth when it retired old banknotes, the central bank said on Wednesday, adding much of the cash appeared to have been gained in “the criminal area”. The East African nation has a diverse, fast-growing economy,… Read More
Belgium’s EU candidate denies ‘malicious’ graft accusations
3rd October 2019
Belgium’s EU candidate denies ‘malicious’ graft accusations
Didier Reynders, Belgium’s pick for EU justice commissioner, denied on Wednesday corruption allegations against him and said he would continue to seek the post because he had not been charged. At a confirmation hearing, Belgian Foreign Minister Reynders told the European Parliament that money-laundering allegations made by a former Belgian… Read More
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