Fraud

Fraud
OFAC
Sanctions

Foreign Interference With US Elections Sanctions

April 29, 2019:  OFAC added regulations to implement the September 12, 2018 Executive Order 13848, which declared a national emergency in response to foreign interference in US elections. The EO authorized sanctions against any foreign government, entity or individual that authorizes, directs, sponsors, or otherwise supports interference with US elections. The regulations took effect yesterday, […]

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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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Anti-Corruption
Cases
DOJ
Fraud
Freshly Brewed

Audi Managers Charged by DOJ; Emissions Cheat

January 28, 2019: The DOJ released a notice of charges against 4 Audi managers, including a former member of Audi AG’s board. The charges concerned the defendants’ role in the well known conspiracy to defraud US regulators by cheating on emissions tests of thousands of Audi “clean diesel” vehicles. The defendants are Richard Bauder, 69, […]

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Anti-Corruption
Cases
China
DOJ
Financial Fraud
Fraud
Freshly Brewed
Iran

DOJ Charges: Huawei and its CFO

January 27, 2019: The DOJ charged Huawei and its CFO, Wanzhou Meng, with financial fraud. More specifically, in a 13-count indictment, the DOJ charged 4 defendants, including Huawei Technologies Co. Ltd. (Huawei) of China, 2 Huawei affiliates — Huawei Device USA Inc. (Huawei USA) and Skycom Tech Co. Ltd. (Skycom) and Huawei’s CFO Wanzhou Meng (Meng), […]

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Anti-Corruption
Fraud
Freshly Brewed
World Bank

World Bank – Odebrecht Debarment Settlement

January 29, 2019: The World Bank announced earlier today that it debarred Brazil-based construction and engineering company Construtora Norberto Odebrecht S.A. for three years. The action was taken in connection with the company’s fraudulent and collusive practices during its participation in the World Bank-financed project, Río Bogotá Environmental Recuperation and Flood Control Project in Colombia. Being debarred, […]

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Anti-Corruption
Fraud
Freshly Brewed

Former South Korean Chief Justice Arrested; Power Abuse

Earlier this week, Yang Sung-tae, the former South Korean chief justice was arrested on allegations of power abuse stemming from his interference in trials to achieve outcomes favorable to the then-president of South Korea, Park Geun-hye.  The former chief justice sat on the bench of the South Korean Supreme Court for six years, retiring in 2017. […]

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Anti-Corruption
Cases
Financial Fraud
Fraud
Freshly Brewed
Money Laundering

Goldman Apologizes to Malaysians for Role in 1MDB Scandal

January 16, 2019: David Solomon, Goldman’s chief executive apologized to the people of Malaysia for their former employee’s role in the 1MDB scandal. Mr. Solomon joined the company’s Q4 earnings call and gave an update on investigations into the 1MDB corruption matter. “It’s very clear that the people of Malaysia were defrauded by many individuals […]

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Anti-Corruption
Financial Fraud
Fraud
Freshly Brewed
Money Laundering
UK

UK’s New Economic Crimes Taskforce

January 14, 2019: The UK government published a release of its new taskforce that will focus on tackling economic crimes.  The taskforce will be chaired by the Home Secretary and Chancellor and will work closely with senior figures from the UK financial sector.  According to the release, economic crimes (inclusive of bribery, corruption, money laundering, etc.) cost some […]

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Anti-Corruption
Cases
DOJ
Fraud
Freshly Brewed

DOJ: Fiat Chrysler Settlements Will Exceed $500 Million

1/11/19: The DOJ, the EPA and the State of California announced yesterday a settlement with Fiat Chrysler Automobiles N.V., FCA US, and affiliates (Fiat Chrysler) for alleged violations of Clean Air Act and California law. According to the release, Fiat Chrysler was using devices to cheat emission tests. “Fiat Chrysler deceived consumers and the federal […]

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Anti-Corruption
Cases
Fraud
Freshly Brewed

Insys Ex-CEO Guilty Plea: Opioid Kicback Scheme

January 9, 2019:  Former CEO of Insys Therapeutics Inc. entered into a cooperation deal with the prosecutors and pleaded guilty to participating in a nationwide scheme to bribe doctors to prescribe an addictive opioid medication.  Michael Babich also agreed to become a government witness. Five former Insys executives and managers are weeks away from trial in connection with the […]

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