Category: corporate corruption

Barclays sells credit card debt to Blackstone: Profiting from Poverty

Barclays (BARC.L), opens new tab has agreed to sell about $1.1 billion of credit card debt in the United States to Blackstone. Banks globally have been making greater use of credit risk transfers to shed risk from loan portfolios, Reuters has reported, with investors sharing the risk of losses. (See Corporate home buyouts: homelessness, mortgage & rent crisis rising) Barclays’ investment…

Pentagon Has Opened Over 50 Criminal Probes on US Aid to Ukraine

The Pentagon’s inspector general said its criminal investigators have opened more than 50 cases related to aid provided to Ukraine, including some involving contractors, but have yet to firm up any allegations. The investigations, which are at different stages, are looking at issues including “procurement fraud, product substitution, theft, fraud or corruption, and diversion,” the inspector general, Robert Storch, said…

Former CIA engineer who sent ‘Vault 7’ CIA spying secrets to Wikileaks sentenced to 40 years

A former CIA software engineer was sentenced to 40 years in prison on Thursday after his convictions for what the government described as the biggest theft of classified information in CIA history and for possession of child sexual abuse images and videos. The bulk of the sentence imposed on Joshua Schulte, 35, in Manhattan federal court came for an embarrassing…

$40m for arms stolen by corrupt officials: Ukraine

KYIV: Employees from a Ukrainian arms firm conspired with defence ministry officials to embezzle almost $40 million earmarked to buy 100,000 mortar shells for the war with Russia, Ukraine’s security service reported. The Ukraine’s SBU said Saturday that five people have been charged, with one person detained while trying to cross the Ukrainian border.If found guilty, they face up to…

Canada Starts Inquiry Into Election Interference by China, Others

Vancouver, British Columbia — An official commission is about to get underway in Ottawa as Canada tries to determine to what extent China and other countries interfered in its last two elections. The investigation also will examine whether Russia and India interfered as well. All three countries have denied the allegations. Former Conservative Member of Parliament Kenny Chiu (Canadian House of…

German Scientists Met Openly With Wuhan “Batwoman”

Perfectly timed to coincide with Anthony Fauci’s closed-door testimony before the US Congress, a recent bombshell report suggested, based on FOIA’d emails, that Shi Zhengli of the Wuhan Institute of Virology met with Fauci at his National Institute of Allergy and Infectious Diseases (NIAID), outside Washington, in June 2017.  According to the most popular version of the “lab-leak” theory, it is,…

‘Science’ in Service of Agenda

Starting in the mid-20th century, companies began distorting and manipulating science to favor specific commercial interests. Big tobacco is both the developer and the poster child of this strategy. When strong evidence that smoking caused lung cancer emerged in the 1950s, the tobacco industry began a campaign to obscure this fact. The Unmaking of Science The tobacco industry scientific disinformation…

Earth shattered global heat record in 2023 and it’s flirting with warming limit, European agency says

Earth last year shattered global annual heat records, flirted with the world’s agreed-upon warming threshold and showed more signs of a feverish planet, the European climate agency said Tuesday. In one of the first of several teams of science agencies to calculate how off-the-charts warm 2023 was, the European climate agency Copernicus said the year was 1.48 degrees Celsius (2.66…

The likely cause of mid-air blowout and the other airlines operating the same Boeing plane

A mid-air blowout aboard a Boeing 737-9 MAX passenger plane has led to dozens of aircraft worldwide being grounded while engineers try to establish what went wrong. Six people aboard Alaska Airlines flight 1282 from Portland to California were injured after a window and chunk of fuselage blew out of the plane in mid-air shortly after takeoff on 5 January….

Toxic nanoplastics make up around 90% of the plastic particles found in bottled water

Bottled water has been found to contain hundreds of thousands of tiny plastic particles, the vast majority of which are nanoplastics (<1μm in length), according to new research. Nanoplastics are thought to be more toxic to humans because their small size means they can pass more easily from the gut into the body than microplastics (1μm to 5mm in length)….

‘Clinton could be in list of people tied to Epstein’

Court documents related to disgraced financier Jeffrey Epstein are expected to be released soon with many names that were previously redacted, and prominent figures on the right are holding up the impending disclosures as evidence of wrongdoing by Democrats despite a lack of concrete information about what they will show. Most of the names being made public – currently cited…

SEC ‘deeply regrets’ its ‘errors and lapses in judgment’ in crypto case

Attorneys for the Securities and Exchange Commission apologized to a judge on Thursday for misrepresenting facts used to secure a restraining order and asset freeze against a crypto firm. In a filing submitted to the U.S. District Court of Utah, in response to the judge’s order to show cause for its misstep, the SEC attorneys wrote that the commission “deeply…

Canada’s Cannabis Industry Struggles Under Weight of Onerous Taxation and Regulations

Five years since the legalization of cannabis in Canada, the industry finds itself grappling with significant challenges. Despite making economic contributions on par with the dairy sector and marking its presence on the global stage, primarily in the medical cannabis export market, this promising industry is hindered by financial strains, murky advocacy, and unyielding regulations. Excise Tax: A Thorn in…

Credit Suisse handed $3.9m penalty by MAS for relationship managers’ misconduct

SINGAPORE – The Monetary Authority of Singapore (MAS) has imposed a $3.9 million civil penalty on Credit Suisse for its failure to prevent or detect misconduct by relationship managers (RMs) in its Singapore branch. Credit Suisse paid the penalty to the regulator immediately after it was imposed, and as part of the settlement, also separately compensated its affected clients, said…

Latvia’s ex-central bank chief sentenced to 6 years’ jail for corruption

Latvia’s former central bank governor was sentenced to six years in prison for bribery on Wednesday after a trial over the most prominent of a series of recent financial scandals to hit the Baltic country. Ilmārs Rimšēvičs, head of the Latvian central bank from 2001 until 2019, was found guilty by the Riga district court of accepting bribes and a…

US Targets Foreign Banks with Sanctions to Curb Russia’s War Effort

US Targets Foreign Banks with Sanctions to Curb Russia’s War Effort In a decisive stroke designed to undermine Russia’s military capabilities, US President Joe Biden has signed a far-reaching executive order targeting the financial sinews aiding Russia’s war efforts in Ukraine. The order, enacted on December 22, 2023, sanctions foreign banks that allegedly support Russia’s defense sector, underscoring the US…