Multilateral Banks

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South African prosecutors seized luxury property and vehicles worth some 1.4 billion South African rand ($96.8 million) in early May from contractors and former officials at Eskom, South Africa's state-owned power utility, as they ramped up criminal proceedings over alleged corruption in construction orders for the Kusile Power Station. Read More
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Investment Technology Group (ITG), a U.S. stock broker, paid a $20.3 million fine for running a secret operation named Project Omega to take advantage of "dark pools" trading orders made by its clients. Experts say that Barclays and Credit Suisse may also soon pay fines for dark pools trading scams. Read More
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Argentina and Belgium have separately accused HSBC bank's Geneva branch of setting up a network of offshore accounts to help their citizens avoid paying billions of dollars in taxes. The charges are apparently based on a trove of documents provided by Hervé Falciani, a former HSBC employee turned whistleblower. Read More
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An independent ombudsman has confirmed that World Bank officials should have raised serious questions before the International Finance Corporation (IFC) - the private sector arm of the World Bank - approved a $30 million loan to Corporación Dinant in Honduras in 2009 for palm oil plantation projects. Read More
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