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."
International Whistleblower Rewards are being offered to International Whistleblowers that expose international bribery schemes, illegal kickbacks, and government corruption. Under the Foreign Corrupt Practices Act and the new SEC Whistleblower Incentive Program, whistleblowers with original and specialized knowledge and evidence of corporate bribery and illegal kickbacks are eligible to recover large economic awards.
Saturday, August 25, 2012
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."
"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
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to Public Officials, Illegal Kickbacks from Energy Companies,
Illicit Payments to Government Officials, and other Violations of
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Bribe Whistle Blower Lawyer, International Oil
Company Public Official Bribe Whistle Blower Lawyer, & Oil Company
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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."
"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,”
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