27th April 2020
An organized crime figure paid an FBI agent $10,000 a month in exchange for sensitive law enforcement information, according to court documents charging the agent, Babak Broumand, in a conspiracy to bribe a public official. Broumand was arrested Friday at a market near his home in Lafayette, according to Laura… Read More
23rd April 2020
Lebanon’s legalisation of cannabis for medical use has been praised by politicians who highlighted its potential to shore up the state’s debt-ridden coffers, but locals and specialists warned that it could increase corruption. MP Antoine Habchi, who worked on a draft version of the bill, said it was a “major… Read More
21st April 2020
Accountancy firm EY has been ordered to pay $10.8m in damages to a whistleblower who claimed it covered up evidence of money laundering. Auditor Amjad Rihan sued EY after being forced out of his job in 2014. A year earlier, Mr Rihan led an audit that discovered Dubai’s biggest gold… Read More
16th April 2020
By Ana Poenariu (RISE Romania), OCCRP, 15 April 2020 OCCRP — In late March, a shipment arrived in Romania of a million medical masks — desperately needed goods for a country facing the rapidly spreading COVID-19 pandemic. But relief soon turned to disappointment for medical staff on the front line. Read More
16th April 2020
İlker Aycı, then-president of the Investment Support and Promotion Agency of Turkey (ISPAT) and current Turkish Airlines (THY) board chairman, facilitated the investments and private businesses of one-time al-Qaeda financier Yasin al-Qadi, confidential documents have revealed. According to a wiretap authorized by a Turkish court as part of a corruption… Read More
15th April 2020
Hezbollah is stepping up a campaign to place allies at the heart of Lebanon’s financial authorities as the US seeks to disrupt the armed group’s financial networks, four senior Arab financiers said on Thursday. The outcome of the political battle could extend Hezbollah’s reach to the nerve centre of Lebanon’s… Read More
15th April 2020
The U.S. Department of Justice on Tuesday said it has repatriated another $300 million to Malaysia in recovered money misappropriated from 1Malaysia Development Berhad, or 1MDB, the country’s sovereign wealth fund. The government of former Malaysian Prime Minister Najib Razak set up the 1MDB fund in 2009. The DOJ estimated… Read More
14th April 2020
British American Tobacco is under criminal investigation by regulators in the United States over suspected sanctions-busting. The Department of Justice and the Office of Foreign Assets Control, a financial intelligence and enforcement agency that is part of the Treasury department, are investigating “suspicions of breach of sanctions”. It is not… Read More
14th April 2020
The disgraced Fifa executive Jack Warner visited Vladimir Putin at the Kremlin less than a week before an alleged multimillion-dollar bribery scheme was initiated by Russia to buy his vote in the competition to host the 2018 World Cup. The Trinidad and Tobago official is alleged to have been paid… Read More
10th April 2020
Exclusion from international financial markets is the greatest fear for any bank. In the Middle East it is a daily concern, as instances of compliance failures continue to make headlines. Last year, a group of US citizens sued 11 Lebanese banks for aiding Hezbollah, despite its terrorist classification by the… Read More