Bribery, Fraud & Tax Evasion
Mutual fund manager Fidelity Investments yesterday settled allegations that more than a dozen of its current and former employees, including star executive Peter Lynch, accepted such perks as sports tickets, tropical vacations and a $160,000 bachelor party from brokers seeking to win business.
Tony Clarke, looks at how Enron, the largest service provider in the world, uses its clout to shape WTO talks on cross-border trade in services.
In yet another bizarre twist to the Enron saga, the sudden death of Kenneth L. Lay on Wednesday may have spared his survivors financial ruin. Mr. Lay's death effectively voids the guilty verdict against him, temporarily thwarting the federal government's efforts to seize his remaining real estate and financial assets, legal experts say.
House Majority Whip Tom DeLay (R-TX) relishes in describing the Marianas as his personal Galapagos Islands. The 14-island chain of Pacific Islands has long been DeLay's image of a perfect business environment -- virtually devoid of business or environmental regulations. Only one other entity, Enron, curried more favor with DeLay.
The Iraqi port of Umm Qasr -- once a crown jewel of the Iraqi economy -- is now a symbol of a new era of foreign domination. It's run by SSA, a politically-connected firm with an ugly history of anti-labor policies.
A British investigation into a controversial arms deal with Saudi Arabia was stopped because Riyadh threatened to withdraw all co-operation on security and intelligence, a newspaper has reported.
Ian Hannam, a senior JP Morgan banker and ex-soldier, who helped finance a number of flamboyant and controversial mineral extraction projects from India to Tanzania over the last couple of decade, has resigned, after being fined $720,000 for insider trading by the UK Financial Services Authority.
Sambala Macalou, mayor of Sadiola village in western Mali where the South African gold mining company AngloGold Ashanti operates, thinks the company is short-changing the community and ignoring its needs.
The report says: "Corruption is another form of insurgency in Iraq. This second insurgency can be defeated only through the development of democratic values and systems, especially the evolution of effective anti-corruption institutions in Iraq."
Is a traditional tribal leader a government official, and could giving money to him be considered bribery? These questions, which oil and gas company executives grappled with recently during a workshop in Equatorial Guinea, are more than an academic exercise.