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Sunday, November 18, 2012

Russian Government Corruption Exposed: International Russian Whistleblowers Can Recover Large Financial Rewards for Exposing Corruption and International Bribery Schemes By International Whistleblower Reward Lawyer Jason Coomer

Exposing Russian Government Corruption and International Bribery Schemes: International Russian Whistleblowers Can Recover Large Financial Rewards for Properly Exposing Corruption and International Bribery Schemes Involving Multinational Corporations by International Whistleblower Lawyer Jason Coomer

Several Russian corruption stories are in the news as global efforts continue to expose government corruption in Russia.  Included in these efforts are new whistleblower reward laws that offer large financial rewards to whistleblowers that properly expose international bribery schemes and Russian government official illegal kickback schemes from large multinational corporations.  

Below are some recent news stories regarding corruption in Russia and information on international efforts to expose government corruption in Russia as well as reward people that are able to expose the corruption.

Trio Charged With Embezzling $110M in State Funds | News | The Moscow Times

Three high ranking official in Moscow have been charged with fraud, money laundering, and abetting the large scale theft of government funds.  These government officials fraudulently obtain the liability rights from several municipal entities.
fraudulently acquire liability rights from several municipal entities in the Moscow region totaling over 3.5 billion rubles [$110 million]

Read more: http://www.themoscowtimes.com/news/article/trio-charged-with-embezzling-110m-in-state-funds/471381.html#ixzz2CbMqTO7j
The Moscow Times

$470M in APEC Funds Were Misused, Audit Chamber Says | News | The Moscow Times

Billions of rubles have been misappropriated from Russian infrastructure projects ahead of the Asia Pacific Economic Conference.  Several key officials are the targets of the investigations as to significant amounts of stolen government funds.  These corruption scandals are expected to result in key arrests and resignations.  

With Anti-Corruption Drive, Kremlin Adopts Navalny Tactic | News | The Moscow Times

Several Russian Elites have been implicated in corruption scandals.  It is yet to be seen how severely these elites will be punished, however, exposing these elites is the first step and it appears that public pressure is building to force these elites out of power and seek back what they have stolen.

International Efforts to Help Expose & Prosecute Bribes and illegal kickbacks to Russian Government Officials & other Government Corruption by Foreign Corrupt Practices Act Attorney Jason Coomer
Russian whistleblowers, public officials,  business professionals, employees of multinational corporations, and others that have evidence of government corruption are eligible for large whistleblower financial rewards.  Russian government corruption that can be the basis for these awards include illegal payments for business; bribes for construction contracts; illegal incentives for oil, gas and mineral leases; illegal kickbacks for regulatory approval; and other violations of Foreign Corrupt Practices Act (FCPA).  Russian whistleblowers and multinational corporation whistleblowers are needed to step up to report illegal corrupt practices and can receive large financial rewards for being the first to properly expose significant Russian government corruption.  

If you are aware of a significant Foreign Corrupt Practice Act (FCPA) violation, please feel free to contact Russian Government Whistleblower  Lawyer,  Jason Coomer via e-mail message  or use our submission form to have an international law attorney review a potential Foreign Corruption Practices Act Securities and Exchange Commission (SEC) Action. 

Wednesday, October 31, 2012

Drug Bribes in The Pharmerging Countries: U.S. Foreign Bribery Penalties for Drugmakers May Need To Be Increased By Pharmerging Bribe Lawyer Jason S. Coomer

Pharmaceutical World Sales Increase to Over $880 Billion Per Year Including Large Sales Increases in the "Pharmerging Countries" by Pharmerging Bribe Lawyer Jason Coomer

Every year over $4.1 trillion (US dollars) is spent worldwide on health services including approximately $850 billion (US dollars) that is spent in the pharmaceutical market on drugs and medications.  In 2011, it is estimated that global pharmaceutical sales are expected to grow by 5% to 7% to around $880 billion.  This growth in sales is led by the 17 so-called "pharmerging countries," which include China, Brazil, Russia, India, Venezuela, Poland and the Ukraine.  These "pharmerging countries", are forecast to see their pharmaceutical spending grow at a 15% to 17% rate in 2011, to between $170 billion and $180 billion overall.

Eight pharmerging countries are amongst the top 20 world pharmaceutical markets, and China is one of the “top three” or will be in the near future.  A few high-profile pharmaceutical companies have been successful in gaining a foothold in these pharmering countries.  These footholds include Abbott’s acquisition of Piramal Healthcare in India — a deal that could potentially make the US giant the top player in this country.  Bayer's and Novartis' investments in China including Novartis'  commitment to invest $1 billion USD in R&D in China and its $125 million USD investment to buy 85 percent stake in a privately held vaccine company.  Pfizer has made inroads into the Russian health care system with a discount-card system in Russia  Sanofi Aventis has purchased Medley, Brazil’s third-largest pharmaceutical company.  GSK and Lilly have also announced anticipated doubling their revenue in emerging markets by 2015.

It is estimated that approximately 10 to 25% of public health care procurement spending including drug contracts, medicines, pharmaceuticals, medical equipment, and medical devices is lost to corrupt and fraudulent acts including adulterated drugs.  As such, there is an international movement to reward pharmaceutical professionals and health care professionals that expose fraudulent and corrupt practices that cost hundreds of billions of dollars and cost lives.  This international movement includes SEC Foreign Corrupt Practices Act Whistleblower Reward Lawsuits and traditional Qui Tam False Claims Act Whistleblower Reward Lawsuits.  


Analysis: U.S. foreign bribery penalties for drugmakers may lack bite | Reuters


"Federal authorities have cast a wide net to weed out suspected gift-giving and kickbacks to foreign doctors and government officials to gain a foothold in burgeoning new markets in Asia, Eastern Europe and Latin America."

"At least eight of the world's top 10 drugmakers, including Bristol-Myers Squibb Co, Pfizer Inc and Johnson &, have disclosed U.S. probes under the 1977 Foreign Corrupt Practices Act (FCPA).
Pfizer agreed to pay $60 million this year to settle FCPA charges and J&J reached a $70 million settlement last year. Pfizer is on track to record $10 billion in sales from emerging markets this year, while J&J said Brazil, Russia, India and China accounted for just under 10 percent of the $65 billion in sales it reported last year."

"With so much at stake outside of established markets in the United States and Europe, some experts say fines like these are hardly a deterrent."

"The $60 million fine for Pfizer to a lay person sounds like quite a bit of money, but in perspective it took less than two days of Lipitor sales during its peak. It's really just chump change for them," said Michael Leibfried, a senior analyst with market research consulting firm GlobalData. The cholesterol pill at its height was a $13 billion a year cash cow for Pfizer."


For more information on this topic, please feel free to contact Pharmerging Bribe Lawyer, Jason S. Coomer.

Thursday, October 11, 2012

Department of Justice Cracks Down On International Export of High Tech Microelectronics:International Trade Law News

U. S. Bureau of Industry and Security - DOJ Press Release - October 3, 2012

RUSSIAN AGENT AND 10 OTHER MEMBERS OF PROCUREMENT NETWORK
FOR RUSSIAN MILITARY AND INTELLIGENCE,
OPERATING IN THE U.S. AND RUSSIA, INDICTED


Defendants Also Include Texas- and Russia-Based Corporations
165 Persons and Companies ‘Designated’ by Commerce Department


BROOKLYN, NY – An indictment was unsealed today in United States District Court for the Eastern District of New York charging 11 members of a Russian military procurement network operating in the United States and Russia, as well as a Texas-based export company and a Russia-based procurement firm, with illegally exporting high-tech microelectronics from the United States to Russian military and intelligence agencies.1 Alexander Fishenko, an owner and executive of the American and Russian companies, is also charged with operating as an unregistered agent of the Russian government inside the United States by illegally procuring the high-tech microelectronics on behalf of the Russian government. The microelectronics allegedly exported to Russia are subject to strict government controls due to their potential use in a wide range of military systems, including radar and surveillance systems, weapons guidance systems, and detonation triggers.

The charges were announced by Loretta E. Lynch, United States Attorney for the Eastern District of New York; Lisa Monaco, Assistant Attorney General, National Security Division, Department of Justice; Stephen L. Morris, Special Agent in Charge, Federal Bureau of Investigation, Houston Field Office; Under Secretary of Commerce Eric L. Hirschhorn, Department of Commerce; and Timothy W. Reeves, Special Agent in Charge, Naval Criminal Investigative Service, Central Field Office. The arrested defendants will be arraigned later today before United States Magistrate Judge George C. Hanks, Jr., at the U.S. Courthouse in Houston, Texas, where the government will seek their removal to the Eastern District of New York.

In addition to the unsealing of the charges, search warrants were executed today at seven residences and business locations associated with the defendants, and seizure warrants were executed on five bank accounts held by Fishenko and defendant Arc Electronics, Inc., the Texas-based export company. In conjunction with the unsealing of these charges, the Department of Commerce has added 165 foreign persons and companies who received, transshipped, or otherwise facilitated the export of controlled commodities by the defendants to its “Entity List.” This designation imposes a license requirement before any commodities can be exported from the United States to these persons or companies, and establishes a presumption that no such license will be granted.


The Scheme

As alleged in the indictment, between approximately October 2008 and the present, Fishenko and the other defendants engaged in a surreptitious and systematic conspiracy to obtain advanced, technologically cutting-edge microelectronics from manufacturers and suppliers located within the United States and to export those high-tech goods to Russia, while carefully evading the government licensing system set up to control such exports. The microelectronics shipped to Russia included analog-to-digital converters, static random access memory chips, microcontrollers, and microprocessors. These commodities have applications, and are frequently used, in a wide range of military systems, including radar and surveillance systems, missile guidance systems and detonation triggers. Russia does not produce many of these sophisticated goods domestically.

According to the indictment and a detention motion filed by the government today, defendant Alexander Fishenko was born in what was, at the time, the Soviet Republic of Kazakhstan, and graduated from the Leningrad Electro-Technical Institute in St. Petersburg, Russia. He immigrated to the United States in 1994, and became a naturalized citizen of the United States in 2003. In 1998, he founded defendant Arc Electronics, Inc. (“Arc”) in Houston. Between 2002 and the present, Arc has shipped approximately $50,000,000 worth of microelectronics and other technologies to Russia. Fishenko and his wife are the sole owners of Arc, and Fishenko serves as the company’s President and Chief Executive Officer. Fishenko is also a part owner and executive of defendant Apex System, L.L.C. (“Apex”) a Moscow, Russia-based procurement firm. Apex, working through subsidiaries, served as a certified supplier of military equipment for the Russian government. Between 1996 and the present, Fishenko has regularly traveled back and forth between the United States and Russia. Defendant Alexander Posobilov entered the United States from Russia in 2001, and became a naturalized citizen in 2008. He joined Arc in 2004, and serves as its director of procurement. Posobilov was arrested at George Bush Intercontinental Airport in Houston on his way to Singapore and Moscow.

The defendants allegedly exported many of these high-tech goods, frequently through intermediary procurement firms, to Russian end users, including Russian military and intelligence agencies. To induce manufacturers and suppliers to sell them these high-tech goods, and to evade applicable export controls, the defendants often provided false end user information in connection with the purchase of the goods, concealed the fact that they were exporters, and falsely classified the goods they exported on export records submitted to the Department of Commerce. For example, in order to obtain microelectronics containing controlled, sensitive technologies, Arc claimed to American suppliers that, rather than exporting goods to Russia, it merely manufactured benign products such as traffic lights. Arc also falsely claimed to be a traffic light manufacturer on its website. In fact, Arc manufactured no goods and operated exclusively as an exporter.

According to the court documents, the defendants went to great lengths to conceal their procurement activities for the Russian military. For example, on one occasion, defendants Posobilov and Yuri Savin, the Director of Marketing at another Russian procurement firm, discussed how best to conceal the fact that certain goods Savin had purchased from Arc were intended for the Russian military. Savin asked Posobilov, “What can we do if a client is military all over?” Posobilov replied, “We can’t be the ones making things up. You should be the ones.” Similarly, on another occasion defendant Fishenko directed a Russian procurement company that, when the company provided false end user information, to “make it up pretty, correctly, and make sure it looks good.” On yet another occasion, Posobilov instructed a Russian procurement company to “make sure that” the end use certificate indicated “fishing boats, and not fishing/anti-submarine ones . . . Then we’ll be able to start working.”
Despite this subterfuge, according to the documents, the investigation revealed that the defendants were supplying Russian government agencies with sophisticated microelectronics. For example, the investigation uncovered a Russian Ministry of Defense document designating an Apex subsidiary as a company “certified” to procure and deliver military equipment and electronics. The FBI also recovered a letter sent by a specialized electronics laboratory of Russia’s Federal Security Service (“FSB”), Russia’s primary domestic intelligence agency, to an Apex affiliate regarding certain microchips obtained for the FSB by Arc. The letter stated that the microchips were faulty, and demanded that the defendants supply replacement parts.

In addition, in anticipation of an inquiry by the Department of Commerce regarding the export of certain controlled microelectronics, defendants Fishenko, Posobilov, and Arc salesperson Viktoria Klebanova allegedly directed Apex executives Sergey Klinov and Dmitriy Shegurov, as well as other Apex employees, to alter Apex’s website and forge documents regarding certain transactions to hide Apex’s connections to the Russian military. In connection with the cover-up, Apex removed images of Russian military aircraft and missiles and other links to the Russian Ministry of Defense from its website.

The Arc Defendants
In addition to Fishenko, Posobilov, and Klebanova, the indictment charges Arc salespersons Lyudmila Bagdikian, Anastasia Diatlova, Sevinj Taghiyeva, and Svetalina Zagon, as well as Arc shipping manager Shavkat Abdullaev, with one count of conspiring to violate and twenty-one counts of violating the International Emergency Economic Powers Act (“IEEPA”) and the Arms Export Control Act (“AECA”), and with conspiring to commit wire fraud. According to the indictment, these defendants obtained controlled microelectronics by lying and submitting false information regarding the true nature, users, and intended uses of the high-tech goods, then exporting the goods, without the required licenses, to procurement firms in Russia. The defendants’ principal port of export for these goods was John F. Kennedy International Airport in the Eastern District of New York.

The Foreign Defendants
According to the indictment, in addition to owning and controlling Arc, Fishenko is also a controlling principal of the Russian procurement firm Apex, the defendant Sergey Klinov is the chief executive officer of Apex, and the defendant Dmitriy Shegurov is an employee of Apex. Apex and its affiliates supplied microelectronics to Russian government agencies, including Russian military and intelligence agencies. The defendant Yuri Savin was the Director of Marketing at Atrilor, Ltd., another Russian procurement firm. Klinov, Shegurov and Savin conspired with Fishenko and the Arc defendants to obtain controlled U.S.-origin microelectronics and to export those technologically sensitive goods to Russia without the required export licenses by falsifying information to hide the true nature, users and intended uses of the goods. In addition, Fishenko, Posobilov, Klebanova, Klinov and Shegurov were charged with obstruction of justice, and Fishenko and Arc were charged with conspiring to commit money laundering.

The individual defendants face maximum terms of incarceration of five years for the conspiracy charge, twenty years for each of the substantive IEEPA and AECA charges, and twenty years for the obstruction of justice charge. In addition, Fishenko faces a maximum term of incarceration of twenty years for conspiring to commit money laundering, and ten years for acting as an unregistered agent of the Russian government. The corporate defendants face fines of up to $500,000 for the conspiracy count and $1,000,000 for each of the substantive IEEPA and AECA counts.

“As alleged in the indictment, the defendants spun an elaborate web of lies to evade the laws that protect our national security. The defendants tried to take advantage of America’s free markets to steal American technologies for the Russian government. But U.S. law enforcement detected, disrupted, and dismantled the defendants’ network,” stated United States Attorney Loretta E. Lynch. “We will not rest in our efforts to protect the technological advantage produced by American ingenuity. And, we will expose and hold responsible all who break our counter-proliferation laws, particularly those, like Fishenko, who serve foreign governments.” Ms. Lynch thanked the United States Attorney’s Office for the Southern District of Texas for its assistance in this matter.

“Today’s case underscores the importance of safeguarding America’s sensitive technology and our commitment to disrupt and prosecute networks that attempt to illegally export these goods,” said Lisa Monaco, Assistant Attorney General for National Security. “I applaud the many agents, analysts, and prosecutors who worked on this extensive investigation.”

“In this day and time, the ability of foreign countries to illegally acquire sensitive and sophisticated U.S. technology poses a significant threat to both the economic and national security of our nation,” said Houston FBI Special Agent in Charge Stephen L. Morris. “While some countries may leverage our technology for financial gain, many countries hostile to the United States seek to improve their defense capabilities and to modernize their weapons systems at the expense of U.S. taxpayers. The FBI will continue to work aggressively with our partners in the U.S. Intelligence Community to protect this technology and hold accountable those companies that willfully choose to violate our U.S. export laws.”

“Today’s action is a perfect example of two of the core benefits of the Administration’s export control reform effort – higher enforcement walls around controlled items and extensive coordination and cooperation among the enforcement agencies. I applaud our special agents who worked with the Justice Department in the interagency effort that led to today’s actions,” said Under Secretary of Commerce Eric L. Hirschhorn.

“The receipt of U.S.-made, cutting-edge microelectronics has advanced Russia’s military technological capabilities. NCIS and the Department of the Navy have worked closely with the FBI, the Department of Justice, and the Department of Commerce in this investigation due to the potential for significant enhancement of Russian naval weapons systems that would result from the illegal acquisition of these export-controlled technologies,” said Special Agent in Charge Timothy W. Reeves, NCIS Central Field Office.

As a result of this case, there may be victims and witnesses who need to contact the agencies involved in the investigation. If your business has been approached by one of the defendants, or by someone trying to obtain export-protected, sensitive technology who appeared not to be legitimate, please report that information to businessoutreach@leo.gov. The information will remain confidential and will be handled by the appropriate authorities.

The government’s case is being prosecuted by Assistant United States Attorneys Daniel Silver, Hilary Jager, and Claire Kedeshian, as well as Trial Attorney David Recker of the Counterespionage Section of the Department of Justice.
The Defendants:
Arc Electronics, Inc.
Principal Place of Business: Houston, Texas
Apex System, L.L.C.
Principal Place of Business: Moscow, Russia
Alexander Fishenko
Age: 46
Shavkat Abdullaev
Age: 34
Lyudmila Bagdikian
Age: 58
Anastasia Diatlova
Age: 38
Viktoria Klebanova
Age: 37
Sergey Klinov:
Age: 44
Alexander Posobilov
Age: 58
Yuri Savin:
Age: 36
Dmitriy Shegurov
Age: Unknown
Sevinj Taghiyeva
Age: 32
Svetalina Zagon
Age: 31


International Trade Law News

As a result of an investigation involving an alleged Russian military procurement network, the U.S. Department of Justice announced today that it had unsealed an indictment against two companies and 11 individuals located in the U.S. and Russia and executed a number of search warrants at various residences, businesses and banks in the U.S.

In a coordinated action, the Commerce Department's Bureau of Industry and Security (BIS) also issued a final rule (PDF) amending the Export Administration Regulations (EAR) to add 164 foreign persons and companies to the Entity List who allegedly received, transshipped or facilitated the exports of the items to Russia. 

Sunday, September 23, 2012

Anti-Bribery Report: Prosecutions Are on the Rise - Compliance Week

Anti-Bribery Report: Prosecutions Are on the Rise - Compliance Week

Stringent anti-bribery laws around the globe are translating into more companies facing an increasing number of prosecutions, according to a new report from Transparency International (TI).
Every year TI monitors global compliance with the OECD's benchmark anti-bribery Convention. Its latest report, “Exporting Corruption? Country Enforcement of the OECD Anti-Bribery Convention. Progress Report 2012,” shows that bribery charges increasingly lead to fines, jail time, and reputational damage.

TI reviewed anti-corruption activity in 37 (out of a total of 39) parties to the Convention and discovered that, with 144 new cases in 2011, the total number of cases prosecuted increased from 564 in 2010 to 708 in all of 2011. In addition, 286 investigations remain ongoing.

Saturday, September 22, 2012

Brazil Finance Minister Guido Mantega Threatens Foreign Capital Tax: Daily Update | The Rio Times | Brazil News

Brazil Finance Minister Guido Mantega Threatens Foreign Capital Tax: Daily Update | The Rio Times | Brazil News

"RIO DE JANEIRO, BRAZIL – Finance Minister Guido Mantega has chided Western central banks over money-printing and other stimulus measures, and warned that Brazil could impose taxes on speculative foreign capital to avoid its currency strengthening. Mantega reiterated his stance that Brazil would take “all necessary steps,” including “those adopted in the past” to prevent Brazil’s real from appreciating unduly."

"Mantega said Brazil would win further foreign investment through global confidence in its economy – and said that despite the current slowdown in Brazil’s economy, 2013 would be see stronger growth of four percent or more."

"However, it was recently revealed that a forty-percent drop in foreign investments had hit Brazil earlier this year, wiping billions of dollars of the country’s main Bovespa stock exchange."

"Back in 2009, investors were taken aback when Brazil imposed taxes on some foreign investments, which it argued were speculative and harmful to the economy."

Brazil Foreign Corrupt Practices Act and Brazil Foreign Bribe Lawyer: Embraer Under Investigation by the US | The Rio Times | Brazil News

Brazil Foreign Corrupt Practices Act Rewards and Exposing Bribes from Foreign Multinational Corporations by SEC Brazil Bribe Bounty Lawyer and Brazil Foreign Corrupt Practices Act Whistleblower Lawyer Jason S. Coomer

The Foreign Corrupt Practices Act (FCPA) and other Anti-Bribery laws prohibit bribes by multinational corporations to foreign officials to obtain lucrative contracts.  Confidential Bribe Whistleblowers that properly report these illegal contract bribes, kickbacks, and other corrupt practices may recover large rewards for exposing corrupt practices committed by multinational corporation.  If you are aware of significant contract bribes, illegal kickbacks or other corrupt practices by foreign companies and/or multinational corporations, please feel free to contact Brazilian Illegal Bribe and Kickback Whistleblower Reward Lawyer Jason Coomer via e-mail message  or go to the following web page on: Brazil Foreign Corrupt Practices Act Whistleblower Lawyer and SEC Brazil Bribe Bounty Lawyer.


Embraer Under Investigation by the US | The Rio Times | Brazil News

RIO DE JANEIRO, BRAZIL – The Brazilian aircraft manufacturer Embraer is under investigation by the United States Securities and Exchange Commission (SEC) on suspicion of violating the U.S. Foreign Corrupt Practices Act (FCPA). Embraer, the fourth largest producer of aircraft in the world, announced it was undertaking an internal investigation into its operations in three countries in response to the subpoena issued by the SEC.

The Foreign Corrupt Practices Act prohibits companies whose securities are listed in the U.S. from making payments to foreign officials “for the purposes of obtaining or retaining business for or with, or directing business to, any person.” It also requires that companies keep accurate records of all their transactions.

If found guilty of a criminal charge the company could face fines of up to, and possibly exceeding, US$2 million. Moreover, individual employees or directors within the company could be fined up to US$100,000 each and imprisoned for a maximum of five years.

The sanctions also dictate that firms found to be in violation of the FCPA could be banned from doing business with the U.S. Federal Government.

This could inhibit Embraer’s reported bid to win a nearly US$1.5 billion deal to supply 100 light attack aircraft to the U.S. military. Frederico Curado, Embraer’s CEO, announced on Friday that he was “confident that it won’t prevent us participating in any bidding process.”

Embraer put forward their Super Tucano jets, which carry a price tag of between US$10-15 million. They are currently among the four finalists in the bidding, and if they win, the deal would not only represent their biggest single-sale of Super Tucanos ever, but also a way into the lucrative U.S. defense market.

Sunday, September 9, 2012

International Equity Funds Southeast Asia: Fidelity $2.4 billion fund vaults past JPMorgan in race for SE Asia cash | Reuters

Fidelity $2.4 billion fund vaults past JPMorgan in race for SE Asia cash | Reuters

Money manager Fidelity saw a surge of cash into a Southeast Asian equities mutual fund this summer, helping it leap past $2 billion in size and overtake a long-time leading rival product from J.P. Morgan (JPM.N).


The inflows underscore the popularity of Southeast Asia at a time when key emerging market economies are seeing outflows. The region of 600 million people has a combined economy of $2 trillion that is boosted by domestic consumption, public spending and a growing middle class.
It also shows that Southeast Asian investors are getting choosier, and gravitating towards better-performing funds.

"It's been a good story to market," Medha Samant, a Hong Kong-based investment director at Fidelity Worldwide Investment, said in a telephone interview.

"Clients are increasingly feeling that ASEAN markets are in a much stronger position to weather a global economic downturn compared to 10 years ago," she said.

Assets of Southeast Asia-focused funds tracked by Lipper stood at $7.8 billion at the end of July, the highest since December 2007. Other offshore funds investing into individual countries in the region managed a further $16 billion.

More than 50 mutual funds focus on Southeast Asia stock investments, nearly double from five years ago, and the inflows for Fidelity and some others such as Japan's Daiwa will help draw investor attention to the region as other Asian countries such as China and India slow. The inflows could ultimately help deepen the region's relatively illiquid markets.

Sunday, September 2, 2012

Defense Contractor False Certification Lawyer and Military Contractor False Certification Lawyer: Defense Industry Faces New Scrutiny of Anti-Corruption Practices - Businessweek

Defense Contractor False Certification Lawyer and Military Contractor False Certification Whistleblower Lawyer Handles Defense Contractor False Certification Whistleblower Lawsuits, Military Contractor False Certification Qui Tam Lawsuits, and False Certification of Military Weapons Lawsuits by Defense Contractor False Certification Lawyer and Military Contractor False Certification Whistleblower Lawyer Jason S. Coomer

War profiteering and fraudulent defense contractors have cost the United States Billions of Dollars through corrupt businesses seeking payment from the government for defective products, services that were never provided, and dangerous products.  Relators and Whistleblowers are encouraged to blow the whistle on defense contractors that cheat the government through False Certification of Product Quality, Product Substitution, Cross Charging, False Certification of Services Provided, Charging for Services or Goods not provided, Violations of the Truth-in-Negotiations Act ("TINA"), and Improper Cost Allocation.

If you are aware of a corrupt defense contractor or other large government contractor that is defrauding the United States Government out of millions or billions of dollars and or is selling the United States Defective Goods or Services, please feel free contact International Military Contractor False Certification Whistleblower Lawyer and Defense Contractor False Certification Lawyer Jason S. Coomer, or go to the following web page: Defense Contractor False Certification Lawyer and Military Contractor False Certification Whistleblower Lawyer.


Defense Industry Faces New Scrutiny of Anti-Corruption Practices - Businessweek

"More than 100 defense companies from Lockheed Martin Corp. (LMT), the world’s largest arms maker, to Czech military truck manufacturer Tatra AS, face a new test of their anticorruption practices as an independent watchdog puts the industry under examination."

"The U.K. arm of Transparency International will issue its first ranking of about 130 companies worldwide on Oct. 4, grading their corporate guidelines for avoiding corruption. Each company is being assessed against 34 criteria and will receive a grade from A to F, an executive for the not-for-profit organization said in an interview in London."

Saturday, August 25, 2012

U.K.-Russia Relations at Stake as EBRD Case Widens | Business | The Moscow Times

U.K.-Russia Relations at Stake as EBRD Case Widens | Business | The Moscow Times

Russia  and the U.K. risk souring ties further as authorities are set to clash over potential money-laundering and bribery charges against a former Russian official at a London-based international lender.
Yelena Kotova, 57, Russia's former top representative at the European Bank for Reconstruction and Development , is sought by the U.K. for allegedly conducting a money-laundering operation in both Britain and the U.S. over several years, according to a person familiar with the British investigation, who declined to be identified because the probe is still under way. Kotova, who denies any wrongdoing, says she's unable to leave Russia because of a criminal inquiry by local authorities.

Relations worsened to a post-Cold War low after the 2006 assassination of dissident ex-KGB officer Alexander Litvinenko in London . In the Kotova case, the U.K. refused entry to Russian detectives for more than a year. The Russian investigation may end up shielding Kotova rather than leading to a trial, said Mark Galeotti, a professor at New York  University.

"Kotova has some kind of protection, in part because she was appointed," Galeotti, who studies transnational crime and Russian foreign affairs, said in a phone interview. "The Russian government had a direct hand in getting her that job, which is why it's embarrassing. On the Russian side, I'm picking up a sense of tension. There are people who are carrying out a serious and diligent investigation and there are people who are instead thinking of the wider political context."

Russian and International Efforts to Help Russia Expose & Prosecute Bribes to Russian Government Officials, Russia Contract Bribes, Illegal Kickbacks to Government Officials, & other Government Corruption by Russian International Business Bribe Bounty Lawyer, Russia Contract Bribe Whistleblower Reward Attorney, & Russian Foreign Corrupt Practices Act Attorney Jason Coomer
Russian whistleblowers, Russian public officials, Russian business professionals, employees of multinational corporations, and others that have evidence of Russian government corruption are eligible for large whistleblower financial rewards.  Russian government corruption that can be the basis for these awards include illegal payments for business; bribes for construction contracts; illegal incentives for oil, gas and mineral leases; illegal kickbacks for regulatory approval; and other violations of Foreign Corrupt Practices Act (FCPA).  Russian whistleblowers and multinational corporation whistleblowers are needed to step up to report illegal corrupt practices and can receive large financial rewards for being the first to properly expose significant Russian government corruption. 
 

Mensalão Trial Resumes in Brazil to Vote on Four Defendants: Daily | The Rio Times | Brazil News

Mensalão Trial Resumes in Brazil to Vote on Four Defendants: Daily | The Rio Times | Brazil News

"BRASÍLIA, BRAZIL – It is expected that the first verdicts of the mensalão, a sprawling corruption trial involving some of the top figures in former-President Lula’s administration, will be announced Monday afternoon, August 20th, when the case resumes at the Supreme Court." 

"Prosecutors charge that public money was laundered through companies linked to advertising executive Marcos Valerio and paid to some coalition members to settle debts and ensure their support for the PT as a “mensalão,” or big monthly payment"

"On Thursday, rapporteur Joaquim Barbosa was the first of the eleven supreme court judges to make a decision, and voted to convict Cunha of passive corruption (receiving undue advantage), embezzlement (appropriating public money) and money laundering, for actions committed while he was president of the Chamber of Deputies in 2003. He also voted found Valerio, Hollerbach and Paz guilty of for bribery and embezzlement."

"According to the Federal Public Ministry, Cunha authorized subcontracting companies for SMP&B, Marcos Valerio’s firm, which had won bids to serve in the Chamber of Deputies. The agency’s work actually represented only R$17,000 of the nearly R$11 million in public money contracted out to them.
“João Paulo Cunha acted intentionally to insert third-party services, aware that the services were not rendered by Marcos Valerio. Such services were completely outside the advertising contract,” Barbosa said, according to Terra Brasil."

 Brazilians and Other International Whistle Blowers Can Receive Large Financial Rewards for Properly Exposing International Bribes and Kickbacks

For information on  Brazilian Government Bribe Whistle Blower Bounty Actions where international executives, Brazilians, and other international whistle blowers can obtain large financial rewards for exposing international bribes and kickbacks from multinational corporations to government officials, please go to the following webpages: Brazilian Government Official Bribe Bounty Actions & Brazil Illegal Bribe Bounty Action Whistle Blower Rewards and Brazil Whistle Blowers Exposing Bribes to Public Officials From International Corporations

International Whistle Blowers Can Collect Large Rewards For Properly Expose Oil Company Bribes to Government Officials by

International Whistle Blower Laws Encourage International Whistle Blowers to Expose Government Corruption, Oil Company Bribes to Public Officials, Illegal Kickbacks from Energy Companies, Illicit Payments to Government Officials, and other Violations of the Foreign Corrupt Practices Act by International Oil Company Bribe Whistle Blower Lawyer, International Oil Company Public Official Bribe Whistle Blower Lawyer, & Oil Company Foreign Corrupt Practices Act Whistle Blower Lawyer Jason S. Coomer

New International Whistle Blower Reward Laws offer large potential rewards or bounties to international oil company employee whistleblowers, foreign government official whistle blowers, and other international whistle blowers that blow the whistle on international oil company contract bribes, international accounting fraud, international energy company fraud, and international oil lease bribes. 

TNK-BP Sues Executive | Business | The Moscow Times

"TNK-BP has filed a lawsuit with an Arkansas court to freeze the U.S. assets of Igor Lazurenko, a former executive of the company, Kommersant reported Tuesday, citing a TNK-BP spokesman."

"The lawsuit was filed to comply with an injunction of the High Court of Justice, the spokesman said. He added that the British court was hearing another lawsuit filed by TNK-BP against Lazurenko.
TNK-BP accused Lazurenko of receiving bribes worth $13 million for awarding oil shipping contracts to transportation companies N-Trans and Sovfrakht."

"For his part, Lazurenko has accused TNK-BP and German Khan, one of its co-owners, of corruption, Bloomberg reported. Lazurenko headed TNK-BP's logistics department and was fired in April."



If you have evidence of oil company government bribes, public official illegal kickbacks for oil extraction contracts, or other government official corruption for mineral extraction, please feel free to contact International Oil Company Bribe Whistle Blower Lawyer and International Energy Company Foreign Corrupt Practices Act Violation Whistle Blower Lawyer, Jason S. Coomer or go to the following web pages:  Russia Whistle Blowers, Пожалуйста, нажмите здесь для русских International Extraction & Mining Contract Whistle Blowers and Oil Industry Employee Whistle Blowers.

Saturday, August 18, 2012

International Trade Bribes to Government Officials: Koch Brothers Flout Law Getting Richer With Secret Iran Sales - Bloomberg

International Trade Bribes to Government Officials Can Be The Basis For Large Financial Rewards Given To International Bribe Whistleblowers by International Trade Government Official Bribe Lawyer,  Illegal Foreign Official Bribe Bounty Action Lawyer, and Public Official Kickback Whistleblower Lawyer Jason Coomer

The United States and United Kingdom have passed government anti-bribery laws that prevent large corporations from using corporate bribes of government officials to create unfair and illegal advantages in obtaining large contracts in international markets.  Through the SEC, Bounty Actions with large financial incentives have been put in place to encourage people with knowledge of government official bribes and kickbacks to come forward and be the first to report these illegal acts.  These new laws are designed to target and expose corrupt practices that have been used by some large multinational corporations.

If you are aware of bribery of government officials or kickbacks to government officials, please feel free to contact International Contract Government Official Bribery Lawyer and International Trade Government Official Kickback Lawyer Jason Coomer via e-mail message.



Koch Brothers Flout Law Getting Richer With Secret Iran Sales - Bloomberg

"Koch-Glitsch is part of a global empire run by billionaire brothers Charles and David Koch, who have taken a small oil company they inherited from their father, Fred, after his death in 1967, and built it into a chemical, textile, trading and refining conglomerate spanning more than 50 countries.
Koch Industries is obsessed with secrecy, to the point that it discloses only an approximation of its annual revenue -- $100 billion a year -- and says nothing about its profits."


"In May 2008, a unit of Koch Industries Inc., one of the world’s largest privately held companies, sent Ludmila Egorova-Farines, its newly hired compliance officer and ethics manager, to investigate the management of a subsidiary in Arles in southern France. In less than a week, she discovered that the company had paid bribes to win contracts. “I uncovered the practices within a few days,” Egorova- Farines says. “They were not hidden at all.”




Wednesday, August 15, 2012

Corruption in the Financial Services Industry by International Bank Fraud Lawyer and International Bank Bribe Lawyer Jason S. Coomer

International Whistleblower Reward Laws Offer Large Rewards and Bounties to International Whistleblowers That Expose Fraud, False Accounting, Government Bribes, and Corruption in the Financial Services Industry by International Bank Fraud Lawyer and International Bank Bribe Lawyer Jason S. Coomer

New International Whistleblower Reward Laws have been enacted to encourage professionals with knowledge of financial services fraud, financial services government bribes, investment fraud and false accounting, banking violations, and other Foreign Corrupt Practice Act Violations, to expose the fraud and corruption.  These new international whistleblower reward laws offer large financial rewards and whistleblower protections for persons that qualify and expose significant fraud and corruption.

If you are the original source with special knowledge of fraud and are interested in learning more about a potential bank employee whistleblower lawsuit, International Bank Bribe Lawyer and International Bank Fraud Lawyer.


Standard Chartered to Pay $340 Million Over Iran Transactions - Corruption Currents - WSJ

"Standard Chartered PLC agreed to pay New York’s top banking regulator $340 million, averting a public showdown and ending a weeklong, trans-Atlantic regulatory drama, the Wall Street Journal reported Tuesday."

"After a harried week of debate, the U.K.’s fifth-largest bank by assets reached a settlement with New York’s Superintendent of Financial Services, Benjamin M. Lawsky. The agreement came eight days after Lawsky accused the bank of illegally scheming over a decade to hide more than 60,000 financial transactions totaling $250 billion for Iranian clients."

"The bank previously responded by calling the New York report “factually inaccurate,” and U.K. officials came to its defense."

"Four other U.S. regulators that have been probing the bank’s actions weren’t part of the settlement. The U.S. Treasury Department, the Federal Reserve, the U.S. Department of Justice and the Manhattan District Attorney’s office have been negotiating with Standard Chartered since 2011 to reach a settlement over its Iran-related transactions."

"Lawsky’s public foray appeared to surprise other regulators who reportedly held different views of Standard Chartered’s actions and were advocating pursuing different remedies.  As part of the settlement, Standard Chartered agreed to install a monitor chosen by Lawsky’s office to oversee its international transactions. The bank also agreed to appoint its own auditors in its New York office to oversee compliance with U.S. money-laundering laws. The bank acknowledged that the settlement covers $250 billion of transactions that the company handled for Iranian clients."

The UK Bribery Act and U.S. Foreign Corrupt Practices Act: Traps for the Unwary in Corporate Transactions : Global Law Watch

The UK Bribery Act and U.S. Foreign Corrupt Practices Act: Traps for the Unwary in Corporate Transactions : Global Law Watch

"Enforcement authorities and legislators in many countries have focused with renewed vigor during the past few years on seeking to investigate and prosecute bribery – in particular, bribery involving public officials. Commercial bribery also is prohibited in many countries, although there does not appear to have been a similar increase in the number of enforcement actions focusing on commercial bribery.
Several countries recently have adopted stringent new anti-bribery legislation, such as the UK Bribery Act 2010 (the “Bribery Act”). Many other countries have stepped up their enforcement of existing laws, such as the US Foreign Corrupt Practices Act 1977 (the “FCPA”). Some of the increased enforcement activity has been prompted by domestic political considerations. But intergovernmental organizations also have played a role by highlighting the corrosive effect that bribery tends to have when it is permitted to flourish."

Violations of the US Foreign Corrupt Practices Act and UK Bribery Act Can Result In Several Issues For Non-Compliant Multinational Corporations by Asia Multinational Corporation Foreign Corrupt Practices Act Lawyer

Violations of the U.S. Foreign Corrupt Practices Act and UK Bribery Act Can Result In Criminal Prosecutions, Fines, Loss of Stock Value and Several Issues For Non-Compliant Asian Multinational Corporations by Asia Multinational Corporation Foreign Corrupt Practices Act Lawyer and Global Trade Foreign Corrupt Practices Act Lawyer Jason S. Coomer

Recent enactments of anti-corruption laws are cracking down on corruption in international trade and may result in numerous criminal prosecutions, large fines, loss of stock value, loss of business, and several other issues costing non-compliant corporations large amounts of money.  Multinational corporations and international business executives that fail to comply with new anti-corruption laws and continue with bribes and illegal kickbacks, are the targets of these new laws including anti-corruption bounty actions.


FCPA fines not the only worry for non-compliant Asian institutions, says report - TrustLaw

"Fines under the U.S. Foreign Corrupt Practices Act (FCPA) are only the beginning of worries for firms in Asia, according to a new report issued by Kroll Advisory Solutions. The report focused on global anti-corruption legislation and high-profile cases illustrating the costs of non-compliance, and found that there is still a major gap in the perceived exposure of Asian companies to the risks they face as global anti-corruption efforts ramp up."

"International companies needed to raise anti-corruption efforts, not only to comply with legislation, but to avoid the fines, disclosure requirements, possible arrests and remedial action costs which frequently accompanied violations. Falls in stock price and intangible reputational damage are further compelling reasons to maintain the highest compliance standards,”

Tuesday, July 31, 2012

International Merger Fraud and Insider Trading Violations: Siris, et al. and Hu, et al.: Lit. Rel. No. 22430 / July 30, 2012 by International Insider Trade Whistleblower Lawyer, International False Accounting Whistleblower Lawyer and International SEC Merger Fraud Whistleblower Lawyer Jason S. Coomer

The Securities and Exchange Commission (SEC) Is Offering Large Rewards and Bounties to International Whistleblowers That Properly Expose International Insider Trading Fraud, Corporate False Accounting, and Other SEC International Fraud by International Insider Trade Whistleblower Lawyer, International False Accounting Whistleblower Lawyer and International SEC Merger Fraud Whistleblower Lawyer Jason S. Coomer

The Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) are offering large financial rewards and bounties to International Whistleblowers that properly expose international merger fraud.  These new International Whistleblower Bounty Laws have been enacted to encourage international financial services professionals, high end investors, government officials, international regulators, and other individuals with knowledge of merger fraud, accounting fraud, and insider trading to expose the SEC violations.  These new international whistleblower reward laws offer large financial rewards and whistleblower protections for persons including international whistleblowers that qualify and expose significant fraud and corruption. 

Siris, et al. and Hu, et al.: Lit. Rel. No. 22430 / July 30, 2012


"The Securities and Exchange Commission today filed settled fraud charges, among others, against New York-based fund adviser Peter Siris (Siris) in connection with its investigation into China Yingxia International, Inc. (China Yingxia), a now defunct Chinese reverse merger company. The illicit conduct by Siris and/or his associated entities — Guerrilla Capital Management, LLC (Guerrilla Capital), and Hua Mei 21st Century, LLC (Hua Mei) — included insider trading, trading in violation of Rule 105 of Regulation M, fraudulent representations in a securities purchase agreement, misstatements to investors in pooled investment vehicles, acting as an unregistered securities broker, and unregistered sales of securities."

"In a separate action, the SEC charged Ren Hu (Hu), former chief financial officer of China Yingxia, for fraudulent representations in Sarbanes-Oxley (SOX) certifications, lying to auditors, failure to implement internal accounting controls, and aiding and abetting China Yingxia’s failure to implement internal controls; and Alan Sheinwald (Sheinwald), and his investor relations firm Alliance Advisors, LLC (Alliance), for acting as unregistered securities brokers."  

If you are the original source with special knowledge of fraud and are interested in learning more about becoming a confidential international merger fraud whistleblower or a confidential international insider training fraud confidential whistlebleblower, please feel free to contact International Merger Fraud Confidential Whistleblower Lawyer, International False Accounting Fraud Confidential Whistleblower Lawyer and International Insider Trading Fraud Confidential Whistleblower, Jason S. Coomer or go to the following web pages:  International Merger Fraud and Insider Trading Fraud Whistleblowers or  China Multinational Corporation Merger Fraud Whistleblowers.

Saturday, July 28, 2012

International Insider Trading SEC Bounty Actions: SEC alleges insider trading ahead of CNOOC-Nexen deal by International Stock Manipulation Scheme Whistleblower Lawyer & International Illegal Insider Trade Whistleblower Lawyer Jason Coomer

The SEC Is Offering Large Financial Bounties For Whistleblowers That Properly Expose International Executive Insider Trading, Hedge Fund Insider Trading, Private Equity Fund Fraud, Money Manger Insider Trades, Hedge Fund Manager Illegal Trading, Stock Manipulation Schemes, and Other Violations of Securities Law by Interantional Hedge Fund  Insider Trade Whistleblower Lawyer, International Private Equity Fund Insider Trade Whistleblower Lawyer, International Stock Manipulation Scheme Whistleblower Lawyer, & International Executive Illegal Insider Trade Whistleblower Lawyer Jason Coomer

The SEC is offering large financial bounties to insider trade whistleblowers that expose executive insider trading, hedge fund insider trading, private equity fund fraud, money manger insider trading, hedge fund manager illegal trading, stock manipulation schemes, and other violations of securities law.  These insider trading whistleblower rewards can be obtained by financial professionals with knowledge of illegal insider trading and other SEC violations.  The SEC encourages all financial professionals with original knowledge of executive insider trades, hedge fund insider trades, private equity fund fraud, false misleading information on a company's financial statements, false information on Securities and Exchange Commission (SEC) filings, stock manipulation schemes; embezzlement by stockbrokers; and other securities fraud to properly expose the violations. 

SEC alleges insider trading ahead of CNOOC-Nexen deal | Reuters

"The U.S. securities regulator filed a complaint in court on Friday against a firm controlled by a Chinese billionaire and other traders, accusing them of making over $13 million from insider trading ahead of a bid by China's CNOOC for Canadian oil company Nexen Inc."

If you want to confidentially explore a potential SEC bounty action, please feel free to contact Confidential  Insider Trade Whistleblower Reward Lawyer and Securities Fraud Insider Trading Whistleblower Lawyer Jason Coomer via e-mail message or feel free to go to the following web pages for more information: Executive Illegal Insider Trade Whistleblower Lawyer, International Oil Company Employee Whistleblower Reward Lawyer, or International Hedge Fund Insider Trading Whistleblower Lawyer.

Monday, July 23, 2012

The Securities and Exchange Commission is Cracking Down on International Corporation SEC Fraud and Credit Asset Fraud: Mizuho Securities USA Inc.

SEC Enforcement of International Corporation SEC Violations and Securities Fraud Is On The Rise by International SEC Violation Lawyer and International SEC Fraud Lawyer Jason S. Coomer
The SEC and other government agencies are seeking out large international corporations that are violating securities laws.  Several large cases are currently being investigated by the SEC, State Attorney Generals, and the Department of Justice.  Included in these efforts to expose international corporations that are committing fraud, the SEC is offering large financial rewards to SEC fraud whistleblowers including international whistleblowers that are the first to properly expose securities fraud, investment fraud, SEC violations, and other forms of financial fraud.  Many SEC whistle blower cases are now being actively investigated and many more are being filed as whistle blowers discover that they can reap large rewards and be protected while having their case evaluated. 
Mizuho Securities USA Inc.

"The Securities and Exchange Commission has charged the U.S. investment banking subsidiary of Japan-based Mizuho Financial Group and three former employees with misleading investors in a collateralized debt obligation (CDO) by using “dummy assets” to inflate the deal’s credit ratings. The SEC also charged the firm that served as the deal’s collateral manager and the person who was its portfolio manager. According to the SEC’s complaint filed July 18 against Mizuho Securities USA Inc., the firm made approximately $10 million in structuring and marketing fees in the deal. Mizuho agreed to pay $127.5 million to settle the SEC’s charges, and the others charged also agreed to settle the SEC’s actions against them."

International SEC Fraud Lawyer Represents International SEC Bounty Action Whistleblowers by Evaluating SEC Bounty Actions and Protecting SEC Bounty Action Whistleblowers

International corporation SEC fraud lawyer, Jason S. Coomer, works with international SEC fraud whistleblowers that are stepping up and blowing the whistle on securities fraud, investment fraud, SEC violations, and other forms of financial fraud.   In working with international financial professionals, Jason Coomer commonly works with a team of lawyers that can confidentially evaluate a potential bounty action to determine if the international whistleblower case is viable and may result in a recovery.  If you are aware of securities fraud or other financial fraud and need more information on this topic,  please feel free to contact International SEC Fraud Whistleblower Lawyer Jason Coomer via e-mail message  or go to the following web pages: SEC Whistleblower Incentive Program Lawsuit Information or International Whistleblower Lawsuit Information.

Sunday, July 22, 2012

International Financial Services Fraud: Prosecutors, regulators close to making Libor arrests | Reuters

There is an International Crackdown on International Financial Services Fraud That May Send Bankers, Brokers, and other Financial Services Professionals to Jail by International Financial Services Lawyer and International Banker Whistleblower Lawyer Jason S. Coomer

The SEC is offering large financial rewards to encourage bankers and financial services professionals with knowledge of financial services fraud, financial services government bribes, investment fraud and false accounting, and Foreign Corrupt Practice Act Violations, to expose the fraud and corruption.  The SEC and other government agencies are working together with international whistleblowers to expose and crackdown on financial services fraud and corruption.


Exclusive: Prosecutors, regulators close to making Libor arrests | Reuters


"Federal prosecutors in Washington, D.C., have recently contacted lawyers representing some of the individuals under suspicion to notify them that criminal charges and arrests could be imminent, said two of those sources who asked not to be identified because the investigation is ongoing."

"Defense lawyers, some of whom represent individuals under suspicion, said prosecutors have indicated they plan to begin making arrests and filing criminal charges in the next few weeks. In long-running financial investigations it is not uncommon for prosecutors to contact defense lawyers for individuals before filing charges to offer them a chance to cooperate or take a plea, these lawyer said."


International Financial Services Lawyer and International Banker Whistleblower Lawyer Works With Financial Services Professionals to Confidentially Evaluate Financial Services Whistleblower Bounty Actions and Avoid Potential Whistleblower Retaliation

Sunday, July 8, 2012

A Cotton Trader Accuses Firm of Market Manipulation - WSJ.com

A Cotton Trader Accuses Firm of Market Manipulation - WSJ.com

"Mark Allen made a name as a cotton trader unafraid to take big positions in risky markets where many others wouldn't go.Now, less than a year after suffering huge losses trading cotton and losing his job at one of the world's biggest commodities firms, Mr. Allen has returned with another bold move: accusing the industry's biggest player of market manipulation"

"Mr. Allen, a cigar-smoking Australia native in his mid-40s, was dismissed as head cotton trader at Glencore International PLC last fall, shortly before the company disclosed to investors that his group had lost hundreds of millions of dollars"

Wednesday, June 20, 2012

Sergei Magnitsky bill addresses Russia corruption head-on by Russia Corruption Whistleblower Lawyer Jason S. Coomer

Russia and the United States Department Are Working to Change, Expose, and Prosecute Institutionalized Russian Bribes, Russian Illegal Kickbacks and other Russian Government Corruption by Russia Corruption Whistleblower Lawyer Jason S. Coomer
 
The United States and Russian law enforcement have also been coordinating on international corruption investigations.  To assist the fight against government corruption world wide, the Department of Justice is working in many countries to beat back corruption and working with other governments and multinational corporations to make a fundamental shift in the way business leaders and public officials conduct themselves.  The centerpiece of the Department of Justice’s anti-corruption efforts is enforcement of the Foreign Corrupt Practices Act, or FCPA.

Additionally, the U.S. Congress is in the process of reviewing new legislation to help expose government corruption in Russia.  Below is an excerpt from the Washington Post on this proposed Russia Corruption Legislation.


Sergei Magnitsky bill addresses Russia corruption head-on - The Washington Post

The House Foreign Affairs Committee is scheduled today to take up the most consequential piece of legislation in years related to Russia: the Sergei Magnitsky Rule of Law Accountability Act of 2012. With strong bipartisan support, led by Rep. Jim McGovern (D-Mass.) and Sen. Benjamin L. Cardin (D-Md.), the Magnitsky bill is the most serious U.S. effort to address human rights and the rule of law in Russia since the collapse of the Soviet Union.

Call for Russian Whistleblowers to Estate Corruption in Russia

Russian whistleblowers, Russian public officials, Russian business professionals, and employees of multinational corporations with evidence of Russian government corruption are eligible for large whistleblower financial rewards.  Russian government corruption that can be the basis for these awards include illegal payments for business; bribes for construction contracts; illegal incentives for oil, gas and mineral leases; illegal kickbacks for regulatory approval; and other violations of Foreign Corrupt Practices Act (FCPA).  Russian whistleblowers and multinational corporation whistleblowers are needed to step up to report illegal corrupt practices and can receive large financial rewards for being the first to properly expose significant Russian government corruption.   For more information on this topic, please go to the following web page: Russia Corruption Whistleblower Lawyer.

Monday, June 4, 2012

China to Expand Trade of Mechanical and Electronic Products: Chinese Whistleblowers Are Needed To Expose Electronics Export Fraud by China Export Fraud Whistleblower Lawyer and China Foreign Corrupt Practices Act Whistleblower Lawyer Jason S. Coomer

International Whistleblower Reward Laws Encourage Chinese Whistleblowers and International Whistleblowers to Expose Chinese Government Official Bribes, Chinese Public Official Illegal Kickbacks, and other Chinese Government Corruption which are Violations of the Foreign Corrupt Practices Act by China International Business Bribe Whistleblower Lawyer, China International Bribery Scheme Lawyer, and China Foreign Corrupt Practices Act Whistleblower Lawyer Jason S. Coomer

Multinational Corporations that pay illegal kickbacks and bribes to Chinese government officials and former Chinese government officials in exchange for Chinese construction contracts, Chinese public health care pharmaceutical contracts, customs false certifications through Chinese ports, and other international business advantages can be brought to justice and made to pay large penalties under the Foreign Corrupt Practices Act and the China bribery scheme international whistleblower that exposes these foreign corporations are granted protections and may be able to collect large economic rewards under new international whistleblower laws.
 
China to expand trade of mechanical, electronic products |Economy |chinadaily.com.cn

BEIJING - China's exports and imports of mechanical and electronic products will see an averaged annual growth of 10 percent during the coming five years to reach 25 trillion US dollars by 2015, according to the sector's development plan released Monday.

The plan for the 2011-2015 period said China will further improve product quality and boost the ratio of high-tech products in its exports, according to a statement posted on the ministry's website.
It will further diversify its markets to make exports to the emerging countries account for 40 percent of the total, the statement said.

It will also actively promote imports of advanced technology equipment and key components and take steps to improve the trade balance in the sector, according to the statement.

Exports and imports of mechanical and electronic products account for a majority of China's foreign trade.



Globalization of supply chains in international trade has created a shift in where many component parts are produced.  This shift includes the production of electronic components that are used in aircraft, military weapons systems, computers, medical equipment, and other products that are purchased by the United States government through procurement contracts.  These electronic components were traditionally manufactured in the United States and Europe, but are now being manufactured in China, Mexico, India, and South America.  When these electronic components are fake or substandard parts, false certifications regarding the quality of these electronic components can be the subject of a Qui Tam False Claims Act Whistleblower Reward Lawsuit.  These lawsuits encourage whistleblowers including international whistleblowers along the electronic component supply chain to blow the whistle on fake military electronic components, low quality electronic components, and other counterfeit electronic parts.

Monday, May 28, 2012

Preferred Loans And Other Illicit Payments That Are Offered to a Foreign Government Official to Obtain a Government Contract May Be Considered a Bribe or Kickback Under the FCPA: China Natural Gas, Inc. and Qinan Ji: Lit. Rel. No. 22368 / May 14, 2012

There are a Variety of Complicated Illicit Payment, Illegal Kickback, and Bribe Schemes That Can Be The Basis of a Bribe or Illegal Kickback Under Foreign Corrupt Practices Act - by International Illegal Loan Whistleblower Lawyer Jason S. Coomer

There are a variety of procurement fraud illegal bribery schemes, illegal kickback schemes, and illicit payment schemes.  These illegal government procurement schemes include simple cash bribes paid to a government official for a government procurement contract to elaborate illegal kickback and loans schemes paid through multiple agents, relatives, corporations, foreign banks, and slush funds.

Below is a recent SEC Foreign Corrupt Practices Act case regarding an illegal bribery scheme that involved illegal loans and a sham borrower.


China Natural Gas, Inc. and Qinan Ji: Lit. Rel. No. 22368 / May 14, 2012: Securities and Exchange Commission v. China Natural Gas, Inc. and Qinan Ji, United States District Court for the Southern District of New York (Civil Action No. 12-cv-3824 (PGG)) SEC CHARGES CHINA NATURAL GAS AND ITS CHAIRMAN FOR CONCEALING LOANS TO BENEFIT HIS FAMILY

The Securities and Exchange Commission today filed suit in U.S. District Court for the Southern District of New York against China-based China Natural Gas, Inc. and its chairman and former CEO Qinan Ji for defrauding investors by secretly loaning company funds to benefit Ji’s son and nephew while failing to disclose the true nature of the loans.

The SEC alleges that Ji coordinated two short-term loans totaling more than $14 million in January 2010. One loan went to a real estate firm co-owned by Ji’s son and nephew through a sham borrower. The other loan went to a business partner of the real estate firm. Ji signed the company’s SEC filings that falsely stated the loans were made to third parties. Ji then lied about the true borrower to China Natural Gas’s board, investors, and auditors as well as during the company’s internal investigation.


According to the SEC’s complaint, Ji’s nephew approached China Natural Gas in late 2009 to obtain a loan for a large real estate development project being run by Demaoxing Real Estate Co., a firm that was 90 percent owned by Ji’s son and 10 percent owned by Ji’s nephew. Ji recognized it was inappropriate for China Natural Gas to loan money directly to his nephew, so he asked his niece’s husband, who was the company’s internal audit chief, to use a sham borrower. The internal audit chief located an individual named Taoxiang Wang, and fabricated notes of a meeting with her to discuss loan terms. Wang signed a loan agreement for $9.9 million, and the money was wired directly into a Demaoxing bank account with a note stating that the amount was for “raw material expenses.”


The SEC alleges that around the same time, China Natural Gas made a $4.4 million loan to Shaanxi Juntai Housing Purchase Co., a business partner on Demaoxing’s real estate development project. Shaanxi Juntai’s then-general manager was Ji’s friend. The internal audit chief talked with Ji’s nephew about the project when arranging the loan, which directly benefitted Demaoxing.

According to the SEC’s complaint, Ji was the company CEO until he resigned in October 2011. He approved both loans without obtaining prior authorization from the board or informing the CFO. Ji repeatedly lied to conceal the related party nature of both loans. When questioned about the loans by the China Natural Gas board, Ji falsely stated that the loans involved senior Chinese government officers who were in charge of the company’s liquid natural gas project. During a May 10, 2010 conference call about quarterly earnings, Ji responded to a question about the loans by again stating that they were made to obtain approvals from government officials. He later told the board that he made the loans to earn quick and lucrative interest, and lied about the true nature of the loans during the company’s internal investigation. Ji also lied to the company’s auditors by signing a letter stating that the two loans were for business purposes and the borrowers were not related parties.


The SEC also alleges that in the fourth quarter of 2008, China Natural Gas paid $19.6 million to acquire a natural gas company but did not timely and properly report the transaction in its SEC filings. As with the loans, Ji approved the acquisition without obtaining prior authorization from the board.


The complaint alleges that China Natural Gas and Ji violated or aided and abetted violations of Section 17(a) of the Securities Act of 1933 and Sections 10(b), 13(a), 13(b)(2)(A), 13(b)(2)(B), and 14(a) of the Securities Exchange Act of 1934 and Exchange Act Rules 10b-5, 12b-20, 13a-1, 13a-11, 13a-13, and 14a-9. The complaint further alleges that Ji violated Exchange Act Section 13(b)(5) and Rules 13a-14, 13b2-1 and 13b2-2. Ji also is charged with violating provisions of the Sarbanes-Oxley Act that require him to repay China Natural Gas the bonuses and stock sale profits he received after the company filed false reports with the SEC. The SEC’s complaint seeks a final judgment that imposes financial penalties, bars Ji from acting as an officer or director of a public company, and permanently enjoins Ji and China Natural Gas from future violations of these provisions.


International Government Procurement Bribery Schemes, International Procurement Illegal Kickback Schemes, and Other Illicit Payment Information

Numerous other types of international government procurement bribery schemes exist including the use of foreign banks, government official relatives, subsidiaries of international companies, false accounting documents, and other third party intermediary and fraudulent accounting practices to disguise sophisticated international government procurement bribery schemes.

International Whistleblowers with original evidence of these schemes can obtain large financial rewards for properly exposing an illegal bribery scheme.  If you are the original source with special knowledge of illicit payments and bribes of a foreign official, please feel free to confidentially contact International Whistleblower Bribe Lawyer, Jason S. Coomer about confidentially exposing a bribery scheme.

Saturday, May 26, 2012

The CFTC and SEC Are Offering Large Rewards to International Whistleblowers That Properly Expose International Hedge Fund Fraud - by International Securities Fraud Whistleblower Lawyer Jason S. Coomer

The Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) Are Offering Large Rewards and Bounties to International Whistleblowers That Properly Expose International Hedge Fund Fraud, International Investment Fraud, False Accounting, Investment Derivative Fraud, Government Official Bribes, and International Investment Fraud - by International Hedge Fund Fraud Whistleblower Lawyer Jason S. Coomer

The Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) are offering large financial rewards and bounties to International Whistleblowers that properly expose international hedge fund fraud, international securities fraud, corporate false accounting, government official bribes, and corruption in the Financial Services Industry.  These new International Whistleblower Bounty Laws have been enacted to encourage international financial services professionals, high end investors, government officials, international regulators, and other individuals with knowledge of securities fraud, hedge fund fraud, derivatives fraud, financial services government bribes, investment fraud, corporate false accounting, and other SEC violations and CFTC violations, to expose the fraud and corruption.  These new international whistleblower reward laws offer large financial rewards and whistleblower protections for persons including international whistleblowers that qualify and expose significant fraud and corruption.

The Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) Are Regulating Hedge Funds Including Implementing Dodd-Frank and Entering into International Agreements Regarding Hedge Fund Regulations

The Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) are moving forward with regulation of the financial services market including regulation of hedge funds.  This financial services regulation includes international agreements with several governments regarding comprehensive arrangements to improve the oversight of regulated entities, including hedge funds, that operate across national borders. 

The implementation of the Dodd-Frank Wall Street Reform Act passed in July 2010 has increased regulation of financial companies, including large United States based hedge funds, international hedge funds, and smaller United States state based hedge funds. More specifically, the act requires advisers with private pools of capital exceeding $150 million or more in assets to register with the SEC.  As such, the hedge fund advisers of these hedge funds became subject to all rules which apply to registered advisers by July 21, 2011. Previous exemptions from registration provided under the Investment Advisers Act of 1940 no longer apply to most hedge fund advisers.

In addition to large hedge funds based in the United States, international hedge funds with more than 15 US clients and investors, and managing more than $25 million for these clients, also have to register with the SEC.  These international hedge funds will also be regulated by the SEC and subject to SEC rules.

Hedge fund managers based in the United States who have less than $100 million in assets under management are overseen by the state where the manager is domiciled and become subject to state regulation.  These mandatory registrations of hedge fund advisers was supported by the largest hedge fund trade group, the Managed Funds Association (MFA)

Dodd-Frank also required hedge funds to provide information about their trades and portfolios to help regulators fulfill their obligation to monitor and regulate systemic risk. The aim was for this data to be analyzed and shared among regulators – including the newly created Financial Stability Oversight Council – and for the SEC to report to Congress on how the data is being used to protect both investors and market integrity. Under the so-called "Volcker Rule", regulators are also required to implement regulations for banks, their affiliates and holding companies to limit their relationships with hedge funds and also to prohibit these organizations from proprietary trading, and limit their investment in, and sponsorship of hedge funds.

The SEC has entered into comprehensive arrangements called “memoranda of understanding” (“MOU’s”) with about international authorities including the European Securities and Markets Authority (ESMA) as part of long-term strategy to improve the oversight of regulated entities, including hedge funds, that operate across national borders. These arrangements detail procedures and mechanisms by which the SEC and its counterparts can collect and share investigatory information where there are suspicions of a violation of either jurisdiction’s securities laws.

For more information on this topic, please feel free to go to the following web page: The Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) Are Offering Large Rewards and Bounties to International Whistleblowers That Properly Expose International Hedge Fund Fraud, International Investment Fraud, False Accounting, Investment Derivative Fraud, Government Official Bribes, and International Investment Fraud by International Hedge Fund Fraud Whistleblower Lawyer, International Securities Fraud Whistleblower Lawyer and International Investment Derivatives Fraud Whistleblower Lawyer Jason S. Coomer