By Samuel Rubenfeld
A roundup of corruption-related news from Dow Jones and other sources.
Bribery:
- Mike Lucas
The delay in bringing the U.K. Bribery Act into force is now making the pages of WSJ.
Legal experts warned contractors to not wait in implementing Bribery Act compliance despite the delay. (Building.co.uk)
What has the SFO said about joint ventures and compliance under the Bribery Act? (Thebriberyact.com)
A column in the Daily Telegraph says it is the “right idea but the wrong time” for the Bribery Act.
Harriet Harman, a Labour party leader, stepped up the pressure on the government for not implementing the Bribery Act in a sternly worded letter. (Left Foot Forward)
Four lawyers discuss the delay in implementing the Bribery Act. (The Lawyer)
The Chartered Institute of Building warns against tinkering with the Bribery Act. (news release)
The delay in implementing the Bribery Act is not a stay on prosecuting corruption in the U.K., argues one lawyer. (The Lawyer)
An FCPA conundrum: Should a compliance officer self-disclose and initiate a government investigation? (TFoxLaw)
German prosecutors have unearthed evidence of large-scale bribery in their investigation of a EUR1.6 billion order for German submarines from the Greek navy, according to a report. (Dow Jones Newswires)
A Malaysian party chief fainted as bribery charges against him were read in court. (Bernama)
Money laundering:
The fortune of Egyptian president Hosni Mubarak could be as much as $70 billion. (Guardian)
FCPA Blog looks at the former Tunisian ruling family’s assets and the E.U. effort to recover them.
Jailed Indonesian tax official Gayus H. Tambunan is being charged with money laundering. His lawyer said there will be no problems with identifying the source of the money. The same newspaper had reported on Sunday that he wouldn’t face a “dirty money” charge. (Jakarta Post, Jakarta Post)
Money laundering charges will be filed in India over a fraud perpetrated by a branch Citibank employee, according to sources. More here. (Economic Times, Antimoneylaundering.us)
Terror groups are using savings accounts to launder money in India, according to the country’s financial intelligence unit. (Daily Pioneer)
Despite facing money laundering charges, an Australian bookmaker is still able to run his business due to a legal loophole. He doesn’t appear to have been contacted for comment on this story. More here. (The Age, Antimoneylaundering.us)
A money laundering case against frontmen for the FARC rebels in Colombia has been thrown out. (Colombia Reports)
Lichtenstein says it is ready to help India stop the flow of black money out of the country. (IBN Live)
The Swiss are taking aim at deposits under a new law that allows for asset recovery in cases of corruption by public officials. (Newsweek)
The first in a series of stories about combating money laundering in the Philippines. (Manila Bulletin)
Kenya’s High Court made it more difficult to recover assets suspected of being obtained through corruption. (TrustLaw)
Terrorism finance:
Eight former policemen have been arrested in Colombia on suspicion of collaborating with a drug gang. None of those arrested appear to have been contacted for comment. (BBC)
An Iranian professor said any U.S. support for the MEK, a group labeled by the State Department as a terrorist organization, would anger ordinary Iranians. (Talking Points Memo)
Sanctions:
Tunisia suspended the activity of the former ruling party. More here. (Reuters, NY Times)
Backers of Ivory Coast’s outcast president, Laurent Gbagbo, marched on Saturday against the presence of an African Union envoy on hand to mediate a post-election crisis that has put Gbagbo and much of his inner circle under sanctions. (Reuters)
General Anti-Corruption:
Japan’s spring sumo tournament has been canceled because of a ballooning match-fixing scandal in which more than a dozen wrestlers are alleged to have thrown bouts and arranged bribes via text messages. More here. (Wall Street Journal, BBC)
Afghan President Hamid Karzai wants more control of financial inflows, especially foreign investment. (Wall Street Journal)
An International Cricket Council tribunal has found Pakistan cricketers Salman Butt, Mohammad Asif and Mohammad Amir guilty of corruption. Former captain Butt has received a 10-year ban, five suspended, Asif seven years - two suspended - and Amir five. They’ve all denied wrongdoing, and Amir’s lawyer vowed to appeal. Butt’s lawyer disagreed with the ruling. Asif told the panel he’d made a mistake. More here and here. (BBC, BBC, Reuters)
The head of “Open Accounts,” an anti-corruption watchdog in Brazil, said in an interview the country has to take on “instilled” graft in the public sector. (Trustlaw)
The Global Fund on AIDS has announced a crackdown on fraud. More here. (BBC, AllAfrica.com)
Add a Comment