Featured France

India’s ED Eyes Big Loans Issued by Yes Bank, Kapoor’s Foreign Assets

The ED is looking into more multi-crore rupees loans issued by Yes Bank to corporate houses that turned non-performing assets as part of its money laundering investigation against its arrested promoter Rana Kapoor, officials said on Monday, 9 March. They said the agency has widened its probe in the case… Read More

In setback for U.S. bribery prosecution, judge acquits on some Alstom charges

A federal judge on Wednesday tossed all bribery charges on which a former executive at French industrial company Alstom SA (ALSO.PA) had been found guilty at trial, a setback for U.S. prosecutors in a case that has tested the scope of an anti-bribery law. The judge let stand the… Read More

Nikolay Storonsky’s Revolut freezes accounts in money-laundering bungle

Digital bank Revolut mistakenly froze the accounts of a French company, trapping thousands of euros, in a blunder that has raised questions over its compliance processes as it grows at breakneck speed. Priorité Energie, which helps low-income families in Paris to insulate their homes under a government initiative, was told… Read More
18th February 2020
Equatorial Guinea argued on Monday that a luxury mansion in central Paris used by the son of the country’s president was protected by diplomatic immunity when it was raided by French authorities in 2012. The case at the International Court of Justice is seen as a test for the limits… Read More
17th February 2020
Papa Massata Diack, the son of former world athletics supremo Lamine Diack, has denied corruption linked to the Russian doping scandal, saying he is too rich to bribe. Diack has been indicted by French prosecutors for allegedly accepting millions of dollars along with his father, Lamine Diack, in return for… Read More
13th February 2020
A number of international banks were declining to do business with Maltese nationals as they viewed the jurisdiction to be too risky, sources within Malta’s financial institutions warned. Sources from the financial sector and banking regulators confirmed they had received reports from Maltese nationals and Malta-based businesses after overseas banks… Read More
13th February 2020
Colombia’s attorney general’s office searched the offices of embattled airline Avianca on Wednesday as part of an investigation into an alleged bribery scheme involving European manufacturer Airbus . Airbus has reached a plea bargain with prosecutors in Britain, France and the United States and agreed to pay a record $4… Read More
11th February 2020
The son of Equatorial Guinea’s leader and its vice president, notorious for his colourful lifestyle and lavish spending, was handed a three-year suspended jail sentence and a €30m (£25m) fine for graft by a Paris court on Monday, confirming his guilt in one of a string of high-profile “ill-gotten gains”… Read More
4th February 2020
Fallout from the Airbus bribery scandal reverberated around the world on Monday as the head of one of its top buyers temporarily stood down and investigations were launched in countries aggrieved at being dragged into the increasingly political row. Airbus agreed on Friday to pay a record $4 billion in… Read More
3rd February 2020
Airbus SE has long since disbanded the so-called strategy and marketing unit at the center of its record $4 billion bribery settlement, but for years it had quite a heyday. According to documents filed by U.S. prosecutors on Friday, the 150-person team used its $300 million annual budget… Read More
29th January 2020
Bank of China Ltd. agreed to pay 3.9 million euros ($4.2 million) to settle a French probe into allegations it turned a blind eye as customers moved millions to their Asian accounts without paying European taxes. The lender will pay a 3 million-euro fine and 900,000 euros in damages… Read More
29th January 2020
Airbus faces a record $4 billion fine and lower 2019 profits after unveiling a preliminary deal with French, British and U.S. authorities following a crippling three-year probe into allegations of bribery and corruption over jetliner sales. The deal, believed by anti-corruption experts to be the largest ever in a bribery… Read More
27th January 2020
Her website once described her as a “poet, mezzo-soprano, designer and exotic Uzbekistan beauty”. Or, as more critical voices have put it, a “robber baron” who purloined hundreds of millions of pounds in bribes. Now another facet of Gulnara Karimova has come to light: former neighbour of Sir Bruce Forsyth. Read More