Bribery, Fraud & Tax Evasion
One year ago this Tuesday, a gas-exploration well part-owned by the Australian mining giant Santos blew, sending a geyser of mud and toxic gas into the air. Nearby villages and factories were flooded, then a big highway and railway were covered, and later East Java's main gas pipeline ruptured.
JP Morgan - the Wall Street investment bank - and SAC - a major hedge fund - were hauled up Friday for alleged fraud. JP Morgan was questioned at a U.S. Senate hearing about hiding trading losses while SAC agreed to pay $614 million to settle insider trading charges.
The Securities and Exchange Commission's decision late last month to give the smallest public companies more time to comply with the so-called internal-controls rule of Sarbanes-Oxley has got some corporate-governance watchers crying foul.
Chad ordered Chevron and Petronas on Saturday to leave the country within 24 hours for failing to honour tax obligations, in a move apparently motivated by a desire to earn more from its oil.