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Nordea Asset Management drops JBS over deforestation, corruption, worker health

Nordea Asset Management dropped Brazilian meat giant JBS SA from all its funds this month over concerns stemming from the company’s handling of deforestation, corruption charges and employee health and safety amid the coronavirus pandemic. The Helsinki-based money manager made the decision “after a period of engagement with… Read More

Heightened fraud and cyber risks threaten e-commerce merchants

As consumers increasingly turn to online shopping for essential and non-essential goods while at home, fraudsters have adapted their technique to use more sophisticated tactics against consumers, banks and merchants. The situation is tenuous. A recent study from Forter shows fraud attacks increased by 19 percent, globally, from 2018 to… Read More

Judge orders seizure of £5m London flat linked to Petrobras scandal

A high court judge has allowed the seizure of a £5m luxury London apartment allegedly bought by a Brazilian businessman using “corrupt funds” linked to the multibillon-dollar Petrobras “Operation Carwash” money-laundering scandal. Judge Johannah Cutts accepted that, as part of an investigation, the Serious Fraud Office (SFO) could… Read More

22nd July 2020

Trial of ex-Pemex boss threatens to lift lid on Mexico’s ‘cash box’

The trial of a former boss of Petroleos Mexicanos threatens to expose years of alleged malpractice at the state oil company and provide a canvas for Mexico’s leftist president to depict rot at the heart of government that he has vowed to clean up. Once a symbol of Mexican self-reliance… Read More

7th July 2020

U.S. charges ex-Panama president’s sons with bribery, money laundering

U.S. prosecutors have charged two sons of former Panamanian President Ricardo Martinelli in connection with bribery and money laundering linked to Brazilian construction firm Odebrecht, according to a federal complaint unsealed on Monday. Luis Enrique Martinelli, 38, and Ricardo Alberto Martinelli, 40, were arrested earlier in the day in Guatemala… Read More

30th June 2020

American jailed in Spain was unwitting drug mule, US says

AP – Victor Stemberger wasn’t about to ignore the emails inviting him into a multimillion-dollar business opportunity, so he pitched himself as perfect for the job. In a way he was — but for all the wrong reasons. The 76-year-old Virginia man, whose family says he has cognitive issues,… Read More

19th June 2020

Brazil corruption: Police arrest ex-aide to Jair Bolsonaro’s son Flávio

A former aide to Brazilian President Jair Bolsonaro’s eldest son has been arrested as part of an investigation into alleged corruption. Fabrício Queiroz is suspected of being part of a scheme to embezzle the salaries of phantom employees in the Rio de Janeiro assembly when Flávio Bolsonaro was a state… Read More

8th June 2020

Brazil police arrest dozens in illegal Amazon rainforest logging ring

Police stormed a dozen sawmills in Brazil’s Amazon rainforest in a dawn raid on Tuesday, arresting about 30 people accused of involvement in an illegal logging ring. A criminal group behind those arrested spans a web of loggers, sawmill workers, furniture makers and drivers as well as public officials taking… Read More

5th June 2020

Brazil’s Former Justice Minister Accuses President of Abandoning Anticorruption Fight

A former judge who became the face of Brazil’s anticorruption campaign said he felt forced to step down as justice minister because President Jair Bolsonaro had abandoned the fight on graft that had helped get him elected. “To fight corruption, you need to have a very strong program, including in… Read More

2nd June 2020

Trafigura investigated for alleged corruption, market manipulation

Global commodities trader Trafigura is under investigation by US authorities for alleged corruption and market manipulation relating to oil trading, the Guardian has learned. The Commodities and Futures Trading Commission (CFTC) is leading a far-reaching probe into the activities of the oil and metals trading house, including its… Read More

1st June 2020

Brazil: Prosecutor’s Office Finds Millions in Transfers to Environment Minister’s Accounts

The São Paulo Prosecutor’s Office has lifted the bank confidentiality of Brazil’s Environment Minister, Ricardo Salles, and uncovered millions of reais of transfers in his accounts. The MP-SP is now seeking to push forward investigations into fraud and money laundering. The Minister transferred R$2.75 million (US$515,000) from his law firm’s… Read More

27th May 2020

Brazil police raid Rio governor’s residences amid COVID-19 probe

Brazilian federal police on Tuesday raided the residences of Rio de Janeiro Governor Wilson Witzel as part of a COVID-19 corruption probe, targeting one of President Jair Bolsonaro’s political foes as the pandemic sweeps the nation. Two sources and a statement from the federal police said the search warrants were… Read More

22nd May 2020

Brazil Regulator Votes to Continue Probe Into Banks’ Rejection of Crypto Firms

Brazil’s biggest private banks are not out of the woods yet. On Wednesday, Brazil’s antitrust watchdog, the Administrative Council for Economic Defense (CADE), voted to continue its investigation of banks who denied financial services to crypto brokers in alleged violation of Brazilian competition law. CADE’s nearly two-year-old inquiry into… Read More

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