Bribery, Fraud & Tax Evasion
The Supreme Court yesterday strictly limited the ability of investors who lost money through corporate fraud to sue other businesses that may have helped facilitate the crime, a decision that could doom stockholder efforts to recover billions of dollars lost in Enron and other high-profile cases.
Traffic International, a Brazilian sports media company, has been named as the source of at least $60 million in bribes paid to FÃ©dÃ©ration Internationale de Football Association (FIFA) officials, the organizers of the World Cup football tournament, to obtain media and marketing rights to international games.
Rep. Robert W. Ney (R-Ohio) agreed yesterday to plead guilty to corruption charges after admitting to performing a variety of official acts for lobbyists in exchange for campaign contributions, expensive meals, luxury travel, sports tickets and thousands of dollars in gambling chips. He is the first elected official to face prison time in the ongoing influence-peddling investigation of former GOP lobbying powerhouse Jack Abramoff.
A cache of secret documents has thrust HSBC, the world's second largest bank, into the limelight for helping international clients dodge taxes. A series of articles published by the International Consortium of Investigative Journalists is finally pushing reluctant governments to act almost eight years after the original leaks.
Like the tobacco industry that for decades denied a link between smoking and lung cancer, ExxonMobil has waged a "sophisticated and successful disinformation campaign" to mislead the public about global warming, according to a major new report by the U.S.-based Union of Concerned Scientists.
After diamonds and timber, Global Witness, the London-based pressure group, has turned its sights on chocolate in a report that claims cocoa exports from Ivory Coast, the world's largest producer, have contributed to funding and prolonging the conflict there.
A civil lawsuit accusing Alcoa Inc. and affiliates of bribing officials in the Persian Gulf state of Bahrain will be temporarily halted so that U.S. investigators can conduct a criminal investigation of the aluminum maker.
A new ski complex is being constructed in the environmentally sensitive Seven Lakes region of the snow-capped Rila mountains of south-western Bulgaria. Yet authorities have not been able to produce any planning permits nor have the investors produced any documentation of who is funding the construction.
Peace cannot be sustained in Sierra Leone until controls are imposed on the illegal selling of diamonds used to finance its civil war, according to a recent study.