Bribery, Fraud & Tax Evasion
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.
Gazprom and the Russian government have long had a close relationship, but the revolving door between them is spinning especially fast this year. But Gazprom also epitomizes the risks of state capitalism: waste and inefficiency.
An Alabama company controlled by a billionaire Kuwaiti family is the biggest supplier of guns to Iraq. These weapons were paid for by the Pentagon which has lost track of them. A new Amnesty international report says that such unrestrained global arms trading schemes may have catastrophic human rights consequences.
Conrad M. Black, once a major force in business, political and social circles in Manhattan and London, was indicted in Chicago yesterday on charges that he and three former colleagues stole $51.8 million from Hollinger International, the giant international newspaper publisher he helped create.
Last week, Merck, the pharmaceutical multinational, announced that it will pay 2.3 billion dollars in back taxes, interest and penalties in one of the largest settlements for tax evasion the U.S. Internal Revenue Service (IRS) has ever imposed.
Blackstone Group, a major private equity firm, has bought up 200,000 houses in cities hardest hit by the economic meltdown. They hope to profit by renting homes to poor people and securitizing the cash flow - the very plan that caused the crisis in the first place.
Kuwaiti firm Agility (formerly Public Warehousing) indicted here for overcharging the Army on an $8.5 billion contract is negotiating a possible settlement with the Justice Department. On Nov. 9, a federal grand jury in Atlanta indicted the firm on charges it gouged the U.S. government by overcharging on its contract to supply food to American troops in Iraq.
Hospital Corporation of America (HCA) - the world's largest operator of private clinics and hospitals - has come under the spotlight for performing unnecessary cardiac procedures, notably in Florida.
Former Alabama Gov. Don Siegelman and former HealthSouth CEO Richard Scrushy were convicted Thursday in a bribery scheme that derailed Siegelman's campaign to retake his former office.