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High Tide: From A Swift Fallout To A US-EU Split On Iran March 16, 2012


A roundup of corruption-related news from Dow Jones and other sources. You can also receive a newsletter version of Corruption Currents here.

Bribery:


Mike Lucas

Greece is cracking down on corruption, firing 100 civil servants after two officials were arrested for allegedly taking bribes. (Financial Times sub req)

The FCPA Blog runs a guest post about an African organization seeking to distribute FCPA recoveries. Tom Fox has tips for navigating social media and legal ethics. Mike Volkov discusses SEC whistleblowers and voluntary disclosure, and analyzes the use of wiretaps.  Thebriberyact.com says court activity is imminent as the SFO director speaks to the U.K. developing a deferred-prosecution agreement program. Naomi Cohen writes about Goldman Sachs, the infamous op-ed and ethical culture.

The latest in a corruption trial involving a former New York state senator is here and here. (NY Times, NY Daily News)

The defendant in a corruption trial in Yonkers, N.Y. testified that the gifts he gave to a lawmaker were for love, not for politics. (NY Times)

Another report identified hospitality problems surrounding the Olympics due to the U.K. Bribery Act. (Reuters)

Poland’s soccer chief denied allegations from a businessman that he took bribes. (AFP)

Terrorism Finance:

The story surrounding U.S. officials being probed for their ties to an Iranian group designated as a foreign terrorist organization is heating up as more of them go under investigation. They’re not saying much publicly about it. More here. (MSNBC, TPMMuckraker, Huffington Post)

Money Laundering:

The Philippines is getting closer to passing a money-laundering law ahead of a deadline from the FATF. (ABS-CBN News)

A former Goldman Sachs banker denied helping convicted former Nigerian state governor James Ibori launder state assets in the U.K. (Ham High)

Sanctions:

The fallout from action taken by Swift, which was reacting to measures imposed by the European Union, was fast and furious. Some of it is available here and here (BBC, Wall Street Journal)

There’s a split happening between the European Union and the U.S. on how to deal with Iran. (Wall Street Journal)

The U.S. may impose sanctions on India for not cutting off its Iran oil imports. Tehran is sweetening its oil deals with Asia but won’t budge on price. It’s still shipping to Singapore. (Bloomberg, Dow Jones Newswires, Dow Jones Newswires sub req)

Major United Arab Emirates currency houses are ending their Iran rial business. (Reuters)

U.S. sanctions against Syria didn’t keep President Bashar al-Assad off of iTunes. (The Atlantic)

MSC Cruises is buying a ship that was being built for Hannibal Gadhafi, the son of ousted Libyan leader Moammar Gadhafi. (Financial Times sub req)

Whistleblowers:

Another column looks at the treatment of the NYPD informant who blew the door off operations in the 81st Precinct. (NY Times)

During a webcast, the heads of the whistleblower offices of the SEC and CFTC confirmed that the rules governing new programs encourage professional informants to pass them information. (ComplianceWeek)

General Anti-Corruption:

Will Ricardo Teixiera’s departure from Brazilian soccer lead to change? U.K. MP Damiam Collins wrote a blog post about his bill to create a beneficial ownership structure for soccer clubs. (ESPN, Huffington Post)

More coverage of former Illinois Gov. Rod Blagojevich heading to prison is here and here. A photo of the plane he took to get there is here. (Chicago Sun-Times, AP, Tumblr)

Anna Hazare is trying to get his voice back in the mix in India, threatening a big protest for a strong anti-corruption bill. (PTI)

Corruption will cost Germany EUR250 million, a study estimated. (The Local)

Graft risks are capturing Hungary. (Transparency International)

The Brazilian one-time girlfriend of the ex-head of Volkswagen AG’s employee council is to go on trial later this month over her alleged part in a corruption scandal at the automaker. She was not named. (AP)

Six of the eight co-defendants in the CityTime case were told to prepare for an early 2013 trial. More on the landmark settlement is here. (NY Times, AP)

Ukraine imposed new customs rules aimed at combating corruption. (OCCRP)

Myanmar’s mining ministry denied allegations of corruption raised in a government audit report. (Financial Times sub req)

Amnesty International called for Azeri authorities to look into a smear campaign against a jourrnalist reporting on corruption in the ruling family.


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