High Tide: From Vatican Bank Mafia Cover-Ups To Visa Revocation Proposals
By Samuel Rubenfeld
Wikileaks:
Among the latest revelations from the cables released by Wikileaks: The U.S. envoy in Uganda proposed last year possibly revoking the Uganda security minister’s U.S. visa over allegations he had accepted bribes in exchange for supporting the sale of oil assets in the African country. Rio Tinto Ltd. handed over evidence to the Chinese authorities during its bribery investigation that resulted in its employees being jailed. Nigerian activists want an investigation into allegations that Royal Dutch Shell PLC infiltrated government ministries, and the country was blasted as a “cesspool” of corruption. (Dow Jones Newswires, Business Spectator, 234 Next, Der Spiegel)
Bribery:
Thomas Fox and the FCPAProfessor each analyze the settlement reached by RAE Systems Inc. over FCPA violations.
Mabutho Sithole, a spokesman for the premier of Mpumalanga, South Africa, is under investigation for bribery after allegations surfaced over a R5,000 payment to a journalist in exchange for killing a story about the premier. Sithole called the payment a Christmas gift, but wouldn’t comment on the investigation. (Mail & Guardian Online)
U.S. Secretary of State Hillary Clinton hinted that she didn’t think Nigeria would move against former U.S. Vice President Dick Cheney, despite having filed charges against him in the TSKJ bribery scandal. (Nigerian Compass)
A judge rejected a motion to dismiss bribery charges against a former New Jersey assemblyman. (Antimoneylaundering.us)
The anti-bribery hot water (pdf) keeps getting hotter and hotter. (Bryan Cave client alert)
Predictions for 2011 from Thebriberyact.com.
Money laundering:
The AP does a deep-dive story on the alleged money laundering at Vatican Bank. New documents show investigators’ suspicions that clergy may have acted as fronts for corrupt businessmen and Mafia. (AP, The Independent)
As part of its money laundering prevention efforts, India’s market watchdog Sebi will now keep a tab on mutual fund investments made by bureaucrats and politicians. (Times of India)
The Nigerian federal government expressed concern about the effectiveness of recovering laundered assets just as it announced the anti-graft agency had recovered $11 billion. (Vanguard)
A West African AML consortium praised Ghana’s efforts at combating money laundering, while the World Bank says the country will avoid a resource curse. (Modern Ghana, Reuters)
Pakistan’s Federal Investigation Agency will lead prosecution of money laundering cases there. (Antimoneylaundering.us)
Sanctions:
Scotland-based engineering company Weir Group pleaded guilty to two charges of breaching United Nations’ sanctions on contracts awarded between 2000 and 2002 related to the Oil For Food program in Iraq. (Wall Street Journal)
A U.S. official said the international community is ready to impose further sanctions on Iran, which the country is blaming for smog problems. The U.S. isn’t worried about Turkey’s trade with Iran, the State Department said. (AP, Wall Street Journal, Hurriyet Daily News)
The EU is ready to impose sanctions on Ivory Coast amid its election problems. (AFP)
Ghana lifted a ban on league soccer to avoid sanctions from FIFA. (Reuters)
Whistleblowers:
Corporations still don’t like the bounty program created under the financial regulatory reform law. (Wall Street Journal)
A lawyer with Wachtell Lipton Rosen & Katz blogs about how the rules on the program fall short.
Malaysia’s creating its own whistleblower bounty program. More here. (The Star, Bernama.com)
Whistleblowers live a lonely life of despair and retaliation. (Sydney Morning Herald)
A whistleblower wrongly detained in China will get a $4,500 payout. (Global Times)
General Anti-Corruption:
German public prosecutors Cologne raided the offices and private homes of an unspecified number of Ford Motor Co.’s staff and suppliers as part of an investigation into alleged corruption. The company said it’s cooperating with investigators and noted it is not a subject of the probe. (Wall Street Journal)
An Indonesian judge filed a legal complaint against the country’s anti-corruption agency after they spoke about him accepting bribes. (Jakarta Globe)
An Indian state is starting to seize property belonging to officials accused of corruption before the charges are proven.
India’s going to take its time with the notices on the wireless spectrum, while one government official says everyone needs to quiet down about corruption there. The country’s Central Vigilance Commission launched a website for people to upload eyewitness accounts of corruption. (WSJ India Real Time, Dow Jones Newswires, WSJ India Real Time, Times of India)
The release of the latest iteration of Transparency International’s Corruption Perceptions Index sparked protests in Indonesia. (Global Post)
The prosecution in a massive anti-corruption sweep in the Mexican city of Michoacan is falling apart, documents show. (LA Times)
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