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Fragmented parliament complicates EU leadership contest

The task of picking the five names that will hold the European Union’s top jobs and guide its future just got harder after EU assembly elections highlighted the deepening political fragmentation of the 28-country bloc. The two biggest centrist groups in the current European Parliament – the European Peoples’ Party… Read More

FX collusion scandal reaches Australia, class action launched

An Australian law firm filed a class action lawsuit on Monday against five major international investment banks accusing them of colluding to rig foreign exchange rates during 2008-2013 to jack up profits at the expense of businesses and investors. The case involved some of the same banks caught up in… Read More

Israelis protest proposed Netanyahu immunity bills

AP — Tens of thousands of Israelis gathered in the central city of Tel Aviv Saturday, protesting proposed legislation granting Prime Minister Benjamin Netanyahu immunity from prosecution on a series of corruption charges. The protesters outside the city’s Museum of Art also called for protecting Israel’s democratic identity against government… Read More

27th May 2019

Honduran anti-graft mission investigates ex-president over drug money

Former Honduran President Porfirio Lobo is being investigated on suspicion of involvement in laundering illegal drug money as part of a wider probe into his 2010-14 administration, an international anti-corruption mission said on Friday. The anti-graft unit of the Organization of American States (OAS) said the probe into Lobo began… Read More

27th May 2019

Algerian prosecutor refers former PMs to supreme court over alleged corruption: state TV

An Algerian prosecutor has asked the supreme court to investigate two former prime ministers and eight former ministers for alleged corruption, state television reported on Sunday, citing a statement from the prosecution. Mass protests broke out in Algeria earlier this year demanding the removal of the ruling elite and the… Read More

27th May 2019

Nonprofits turn to cryptocurrency to help needy Venezuelans

AP — Andreina Cordero started the year skipping meals so her three kids could eat. Her husband, a construction worker, was out of a job. And the family’s savings had been devastated by the nation’s hyperinflation, limiting Cordero’s children to a diet of rice, beans, pasta and fried corn patties. Read More

27th May 2019

FIFA restoring ‘corruption’ to ethics code after criticism

AP — FIFA is restoring the offense of “corruption” to its code of ethics, almost one year after facing criticism over the symbolic removal of the term. The Associated Press has seen a proposal that will be presented to the FIFA Council meeting next month showing section 27 will become… Read More

27th May 2019

Israeli police recommend bribery charges against Shikun & Binui

Israel’s police and its securities regulator said they had sufficient evidence to proceed with a bribery case against Shikun & Binui, Israel’s largest construction group, its units and senior executives. Police did not name any of the individuals involved and a spokesman for the force was not immediately available to… Read More

26th May 2019

Deutsche Bank’s (Latest) Bad Week

It seems a safe bet that, at some point in the last few days, more than one Deutsche Bank employee has made use of a well-worn but often apt observation about rain and how it sometimes pours. The German lender’s week began with a bombshell report by The… Read More

26th May 2019

How cryptocurrency scams work

By Nir Kshetri, University of North Carolina – Greensboro Millions of cryptocurrency investors have been scammed out of massive sums of real money. In 2018, losses from cryptocurrency-related crimes amounted to US$1.7 billion. The criminals use both old-fashioned and new-technology tactics to swindle their marks in… Read More

24th May 2019

Malaysian police raid Deloitte office for 1MDB-related documents: sources

Malaysian police raided the Kuala Lumpur office of audit firm Deloitte on Thursday as part of a widening probe into a multibillion-dollar scandal at state fund 1MDB, two police sources told Reuters. Investigators seized documents and records related to the firm’s dealings with 1Malaysia Development Berhad (1MDB), one of the… Read More

24th May 2019

Bank CEO charged in Manafort bribery scheme designed to get Trump post

The head of a Chicago-based bank was charged in an indictment unsealed on Thursday with bribery and accused of approving $16 million in high-risk loans to President Donald Trump’s former campaign chairman Paul Manafort in a scheme to land a top Trump administration post such as secretary of the U.S. Read More

24th May 2019

U.S. imposes sanctions on Argentina-based online pharmacies for opioids

The U.S. Treasury Department on Thursday placed sanctions on Goldpharma, an Argentina-based network of online pharmacies that it said contributed to the opioid crisis by selling clandestinely produced narcotics to customers in the United States. The Treasury’s Office of Foreign Assets Control also designated eight Argentine nationals and nine entities… Read More

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