Anti-Corruption

Anti-Corruption
Global Trade
OFAC
Sanctions
Venezuela

Treasury Sanctions Venezuelan Minister of Foreign Affairs

April 26, 2019:  OFAC sanctioned Jorge Alberto Arreaza Montserrat, the Venezuelan Minister of Foreign Affairs, and Carol Bealexis Padilla de Arretureta, both of whom were determined to be current or former officials of the Maduro Government of Venezuela. For information about the methods that Venezuelan senior political figures, their associates, and front persons use to […]

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Anti-Corruption
Best Practices & Resources
Global Trade

London Metal Exchange – Supply Chain Transparency Move

According to an article by Reuters from earlier this month, the London Metal Exchange (the world’s largest market for industrial metals) is looking at a major push toward transparency in child labor in metals’ supply chain.  Specifically, the LME could by 2022 ban or delist metal brands that are not responsibly sourced .  According to […]

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Anti-Corruption
Cases

Ex UAW Official Guilty: Misuse of Company Funds

Earlier this week, a former United Auto Workers official pleaded guilty to corruption charges in a US court.  According to Reuters, Mr. Norwood Jewell, “who headed the UAW’s FCA department from 2014 until his retirement in January 2018, pleaded guilty to a single charge of conspiring to violate the Labor Relations Management Act, which carries […]

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Anti-Corruption

El Salvador’s Former First Lady to Plead Guilty to #Corruption and Public Money #Laundering

April 3, 2019:  Earlier this week, it was reported that El Salvador’s former First Lady, Ana Ligia de Saca, has reached a plea deal to corruption charges in connection with her role in laundering of $25 million in El Salvador’s public money.  The former President, and her husband, is already serving a sentence for the […]

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Anti-Corruption
Freshly Brewed
Global Trade
OFAC
Sanctions
Venezuela

Treasury Sanctions Venezuela’s State Gold Mining Company – Minerven

Earlier today, the Treasury Department announced that OFAC designated “VG Compania General de Mineria de Venezuela CA, or Minerven, the Venezuelan state-run ferrous metals mining company, and its President, Adrian Antonio Perdomo Mata, targeting the illicit gold operations that have continued to prop up the illegitimate regime of former President Nicolas Maduro.” The following individual […]

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Anti-Corruption
Freshly Brewed

Former Adidas Exec Sentenced to Prison Term – Corruption in Recruiting

March 6, 2019:  Two days ago, U.S. District Judge Lewis A. Kaplan sentence former Adidas executive and two other men to prison for making corrupt payments to families of top college basketball recruits in order to influence them to attend schools that were sponsored by Adidas.  Judge Kaplan said he wanted to send a “great […]

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Anti-Corruption
Cases
EU
Freshly Brewed

Shell Prosecution in The Netherlands: Corruption in Nigeria

March 5, 2019:  CNBC reported  few days ago that Shell is facing multiple charges over corruption, emissions, and an explosion.  They appear to be related to the company’s business dealings in Nigeria and the 2014 explosion in its Moerdijk facility.  There are also allegation of emissions excess between 2015 and 2016. As Bloomberg reported back […]

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Anti-Corruption
Cases
EU
Freshly Brewed
Money Laundering

Nordea Further In With Money Laundering Scandal

March 5, 2019:  As we wrote back in October of 2018, the largest Nordic bank was accused of money laundering in connection with the Magnitsky scandal.  Now, Bloomberg is reporting that Nordea is pulled into the scandal even further, with the latest information appearing to come from a leak.  Finnish broadcaster YLE on Monday cited […]

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Anti-Corruption
Cases
DOJ
Financial Fraud
Freshly Brewed

Cognizant SEC FCPA Settlement; DOJ Indictments

February 15, 2019: According to an SEC release, Cognizant Technology Solutions Corporation agreed to pay $25M to the SEC to settle charges of FCPA violations. Two of its executives were charged and indicted, according to another release from the DOJ. The SEC complaint alleged that “in 2014, a senior government official of the Indian state of […]

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Anti-Corruption
Fraud
Freshly Brewed

Post #1MDB, Graft Cleanup Initiative in #Malaysia

Last week, Malaysia announced a major anti-graft initiative, championed by its current Prime Minister Mahathir Mohamad, successor to Naji Razak.  Prime Minister Razak was embroiled in the $4.5B 1MDB state fund theft. The plan would involve major changes to the process through which high post appointments are made, require lawmakers and ministers to publicly declare […]

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