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Federal prosecutors say Giffen, a New York investment banker who became an official in Kazakhstan's government, cemented his power by bribing Kazakh leaders with $84 million that Amoco Corp., Mobil Oil Co., Phillips Petroleum Co. and Texaco Inc. paid to win access to Kazakh fields. In January, Giffen goes on trial in federal district court in New York in one of the largest overseas criminal bribery cases ever. Read More

British officials are seriously concerned about the level of corruption in the Iraqi defense ministry, after the embezzlement of vast amounts of money earmarked for the country's security forces. Officials from the British Ministry of Defense had already warned US and Iraqi authorities against the squandering of money -- and have been proved right, on a catastrophic scale. Read More

COUNTS of massive corruption within governments weave their way through almost every nation. Yet, the accusations surrounding President Kufuor's involvement in the 'Hotel Scandal' seems negligible and overhand when compared to past and ongoing corruption scandals hitting the headlines elsewhere. It seems a bit of underhand dealing comes with the job. The question arises however, of where does one draw the line? Read More

Investigators raided a number of companies connected to the shattered Yukos oil empire, prosecutors said Wednesday, as part of a $7 billion money-laundering probe. Read More