Featured Scotland

How to run a criminal network in a pandemic

“Promo Offer!” flashed up the advertisement on a Scottish vendor’s WhatsApp story, offering a discount on your next purchase if you referred five more customers. The updated price list offered further discounts for bulk buys. There was also a reminder to get orders in early, as, because of lockdown restrictions,… Read More

Argentina confronts its multi-billion dollar offshore wealth problem

By Eli Moskowitz, OCCRP, 23 July 2020 OCCRP – As Argentina has been renegotiating its US$65 billion debt with foreign creditors, it is also grappling with the fact that up to six times that amount is believed to be held by its citizens and companies offshore. Repatriating a portion… Read More

Revealed: More than 700 British firms blacklisted in Ukraine for suspicious activity

They are as common as muck in Ukraine. And often as dirty. Foreign shell firms – ‘offshores’ in the jargon – litter the country’s politics and economy. They are used to conceal ownership, avoid tax, make illicit payments and launder dirty money. Their abuse, say anti-corruption campaigners, help keep Ukraine… Read More
11th March 2020
John Wood Group PLC has reserved $46 million to cover costs associated with possible settlements with U.S., Brazilian and Scottish authorities, the oil-field services company said. The settlements would resolve probes by five authorities in three countries, the Wood Group said in an annual investor report on Tuesday. The… Read More
28th February 2020
Scotland’s first minister has been urged to use unexplained wealth orders to investigate how Donald Trump paid for his Scottish golf resorts. Scottish Greens co-leader Patrick Harvie said the US Congress had heard concerns about possible money laundering involving some of the president’s business deals. He claimed there were “big… Read More
7th January 2020
Investigators have lifted the lid on a Scottish gangster’s gory death – claiming he was the Russian mob’s top money launderer in the UK. Scot Young, from Dundee, was impaled on railings after he fell from a fourth-floor window at his luxury London home in 2014. At the… Read More
30th December 2019
A former president of Peru is alleged to have benefited from a “massive” multimillion pound bribery scheme which saw more than £13 million wired to a Scotland-based firm, according to US prosecutors. Alejandro Toledo, who governed the South American nation from 2001 to 2006, was arrested in the US in… Read More
16th August 2019
A property development firm is trying to have the lawyer famed for representing creditors to late tycoon Scott Young imprisoned in a bitter legal dispute over the whereabouts of millions of pounds in misappropriated funds. Stephen Jones is said to have lied to clients, the courts and the National Crime Agency… Read More
8th August 2019
By Jesse Eisinger, ProPublica, and Kevin Wack, American Banker Since Donald Trump’s election, federal white-collar enforcement has taken a big hit. Fines and settlements against corporations have plummeted. Prosecutions of individuals are falling to record lows. But just how these fines and settlements came to be slashed is… Read More
30th May 2019
Mexican President Andres Manuel Lopez Obrador made his boldest move yet to root out entrenched corruption by going after one of his predecessor’s closest aides, a former chief of state oil firm Pemex, for alleged bribery, tax fraud and other crimes. The target, Emilio Lozoya, headed Pemex from 2012 to… Read More
11th December 2018
The United Kingdom has announced new measures it says will boost transparency and tackle the misuse of Scottish limited partnerships (SLPs), following a consultation on reforming limited partnership law and a number of high-profile money laundering scandals. Under the proposals, individuals registering limited partnerships (LPs) must demonstrate that they are… Read More
16th August 2018
Royal Bank of Scotland (RBS.L) will pay $4.9 billion (£3.86 billion) to settle U.S. claims that it misled investors on residential mortgage-backed securities between 2005 and 2008, the U.S. Justice Department said on Tuesday. The Justice Department said the penalty is the largest-ever imposed on a bank for misconduct leading… Read More
17th November 2017
By Emma Hughs, FT Adviser A murderer serving life for killing a financial adviser has been ordered to pay the Crown £1. Colin Coates, 47, who was jailed for killing 27 year old Lynda Spence in April 2011, is believed to have made £119,967 from crime. But Coates maintains… Read More