3rd December 2019
As the sun sinks in Juba, South Sudan’s capital, a 29-year-old policeman has just finished his shift. Out of view of a busy street, he changes into civilian clothes before class at a nearby university. Abraham Malual Akol Dhel, a father of two, says he’s hoping to retrain into another… Read More
3rd December 2019
A federal jury in Brooklyn found a Lebanese shipbuilding executive not guilty of fraud and money-laundering charges related to $2 billion of debt deals in Mozambique, a spokesman for the U.S. Attorney’s Office said. Jean Boustani, a salesman for shipbuilder Privinvest Group, was found not guilty on charges of wire… Read More
2nd December 2019
Andrew Pearse said he negotiated his first bribe while sipping vodka at a hotel in Maputo, the capital of Mozambique, in February 2013. His employer, Credit Suisse Group AG, was financing a $370 million coastal security contract between Mozambique and Privinvest Group, a shipbuilder owned by Lebanese billionaire Iskandar… Read More
2nd December 2019
Police in Norway will investigate the country’s biggest bank after it was reportedly used by an Icelandic fishing company to launder money. The probe will try to determine whether DNB ASA, which is based in Oslo, committed any punishable offenses, Hedvig Moe, acting chief of the Norwegian National Authority for… Read More
25th November 2019
The founder of a major airline in Nigeria has been charged with bank fraud and money laundering for allegedly moving more than $20 million from foreign sources through American bank accounts and using it, in part, to pay for living expenses, luxury cars and high-end shopping, according to US officials… Read More
20th November 2019
Five years after agreeing to pay a record fine for sanctions violations, BNP Paribas S.A. has made structural changes to its compliance division—an effort to strengthen the independence of the bank’s compliance function and improve ethical culture. The efforts have included setting compliance as an independent function that… Read More
20th November 2019
Two Icelandic banks are already investigating the accounting of Samherji—the Icelandic fishing giant currently embroiled in a scandal involving bribing Namibian officials for fishing quotas, and using a shell company in a tax haven to squirrel away the proceeds, Vísir reports. Samherji’s activities were brought to light last… Read More
19th November 2019
For six weeks Jean Boustani, a Lebanese salesman at a shipbuilding company, sat quietly in a New York court as prosecutors summoned 20 witnesses to support charges he defrauded U.S. investors in a $2 billion Mozambican kickback scam. On Monday, Boustani began to tell his side of the story to… Read More
18th November 2019
British lawmaker Peter Hain will tell an inquiry on Monday that corruption under South Africa’s former president Jacob Zuma was enabled by international banks, corporations and governments which should now seek to recover the loot they helped launder. Hain’s submission on Monday to the Judicial Commission of Inquiry into State… Read More
13th November 2019
Sahel gold mines are providing a new source of funding for jihadists and other armed groups and attracting recruits for them in a region where state power is weak, according to a new International Crisis Group (ICG) report published Wednesday. In Mali, Burkina Faso and Niger, “armed groups have seized… Read More