The Government of the Cayman islands has announced that it will publish the identities of everyone who owns a company there by 2023. That would bring the island nation in line with a law passed last year by the United Kingdom, and with EU directives and should reduce the significant amount of tax evasion by persons using […]
Continue reading…Swedish telecom giant Ericsson sets $1.23 billion in reserves to cover fines relating to foreign bribes in China, Greece, Vietnam and more
Ericsson, the Swedish multinational networking and telecommunications company has reserved $1.23 billion to cover fines associated with foreign bribes made by the company in China, Djibouti, Indonesia, Kuwait, Saudi Arabia and Vietnam, based on an investigation. Ericson has a 35% share in the 2-5G mobile market network and is the major competitor to Huaweri, the […]
Continue reading…Microsoft subsidiary in Hungary to pay $8.7 Million iin criminal penalties to settle foreign bribery case
Microsoft’s subsidiary in Hungary, has agreed to pay a criminal penalty of more than $8.7 million to resolve the government’s investigation into violations of the Foreign Corrupt Practices Act (FCPA) arising out of a bid rigging and bribery scheme in connection with the sale of Microsoft software licenses to Hungarian government agencies. According to Microsoft […]
Continue reading…Walmart’s Brazilian subsdiary WMT pays $137 Million to DOJ’s investigation on foreign bribes
Walmart Inc. (Walmart), a U.S.-based multinational retailer and its wholly owned Brazilian subsidiary, WMT Brasilia S.a.r.l. (WMT Brasilia), will pau pay a criminal penalty of $137 million to resolve the government’s investigation into violations of the Foreign Corrupt Practices Act (FCPA). WMT Brasilia pleaded guilty today in connection with the resolution. Assistant Attorney General Brian […]
Continue reading…Russia’s likely move to dominate Natural Gas Resources in the Arctic may destroy the Nenet People
In total, the Arctic is home to more than 60 untapped natural gas fields with 43 locations falling inside Russian territory. Consequently, Russia has already set to dominate this area and its resources, building the Yamal LNG plant which cost over $27 billion to develop. New vessels valued at hundreds of millions of dollars each […]
Continue reading…China considering cutting off U.S. supply of its rare earth elements which would affects cell phone and defense productions
China is ready to try to dominate the trade war with the United States by cutting off its supply of rare earth minerals to the U.S., Chinese media reported Wednesday. Rare earth minerals contain unique elements used by the U.S. in cell phones, hybrid cars and cancer treatment. They also play an important role in […]
Continue reading…Canada Becomes Hotspot for Money Laundering Due to Lax Real Estate System
Canada’s weak money-laundering laws, especially when it comes to real estate monitoring, has left areas like British Columbia vulnerable as an attractive place to store ill-gotten cash. The main way this works is through buying real estate with little to no information to verify the identity of those involved in the purchasing. In 2018 alone, […]
Continue reading…FBI investigating Johnson & Johnson, GE, Siemens and Phillips over alleged bribes and kickback schemes spanning 2 decades
Johnson & Johnson, GE, Siemens, and Philips are being investigated by the FBI for an alleged kickback scheme that could span over two decades. According to a recent report by Reuters, these companies may have been part of a complex scheme designed to secure medical equipment contracts in Brazil through a series of bribes made to government […]
Continue reading…Solar Fish Mysteriously Nets $355 Million from Six Russian Fishing Companies
Solar Fish was reported by FTI Consulting to have received a payment of $355 million from six different parties. While on the surface it comes off as a simple financial transaction, this payment is suspected to be for the sale of a number of Russian fishing firms that the company controlled in secrecy. Solar Fish […]
Continue reading…Former banker extradited from Malaysia for conspiring to launder billions of dollars from development fund and bribes to officials
Ng Chong Hwa, known as “Roger Ng,” a citizen of Malaysia, has been extradited to the United States from Malaysia to face charges of conspiring to launder billions of dollars embezzled from 1Malaysia Development Berhad (1MDB), Malaysia’s investment development fund, conspiring to violate the Foreign Corrupt Practices Act (FCPA) by paying bribes to multiple government […]
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