Category: corporate corruption

With Russian tanks and troops descending on Ukraine in early 2022, Cyprus became a hotbed of financial activity. The island country has long been known as an offshore transit point for the fortunes of Russian billionaires, and as sanctions loomed over many of them last year, Cyprus financial services firms fielded a series of urgent demands to transfer funds and…

Italy has just delivered a devastating blow to the controversial agenda of the World Economic Forum (WEF) and billionaire magnate Bill Gates for global food control, with the historic approval of a ban on the production and sale of cultivated meat. The Chamber of Deputies voted 159 in favor, 53 against, and 34 abstentions in support of the bill presented by Minister…

Backgrounder. Imran Khan is a former Pakistani cricket player, politician, philanthropist, and prime minister of Pakistan (2018–22). He became a national hero by leading Pakistan’s national team to a Cricket World Cup victory in 1992 and later entered politics as a critic of government corruption in Pakistan. Khan’s calls for investigations into government corruption, along with supporting evidence released in…

In September, a class action lawsuit (Mannacio v. Discover Financial Services, et al., No. 23-cv-06788 (N.D. Ill.)) was filed against Discover Financial Services (“Discover”) alleging Discover and certain current and/or former executives violated the Securities Exchange Act of 1934. Specifically, the class action complaint alleged that the defendants made false and/or misleading statements and/or failed to disclose that: (i) Discover…

Thomas Flohr, owner of luxury airline VistaJet, must fight a claim that he defrauded a Guernsey investment partnership two decades ago after London’s High Court refused to dismiss the case.  Flohr, who denies the allegations, had tried to have the case thrown out on technical grounds related to the circumstances of the case, in which a previously dissolved partnership was…

Airbnb is facing the prospect of a tax bill worth hundreds of millions of euros following an Italian court ruling in an evasion case. Prosecutors in Milan say a judge authorised the seizure of €779.5m (£677m) from the short-term property rental platform. They said it related to an alleged failure by the company to comply with laws that require Airbnb…

Telecom Italia SpA has agreed to sell its land-line network to KKR & Co. in a government-backed deal valued at around €22 billion ($23.6 billion), according to people familiar with the matter. The phone carrier’s board of directors, after a marathon meeting that started on Friday, approved the grid sale to the US private equity giant on Sunday without making it conditional on…

FTX founder Sam Bankman-Fried was convicted of fraud and money laundering by a New York jury in a landmark criminal verdict that is likely to condemn the former crypto tycoon to decades in prison […] The decision […] was delivered just after 7.40pm on Thursday, following less than five hours of deliberation by the jury’s nine women and three men…

The Trump era was very, very good to the country’s giant telecom monopolies. Trump officials doled out billions in tax breaks (AT&T nabbed $42 billion alone) and billions more in poorly tracked subsidies. It also approved anticompetitive mergers without even reading the details, and handed out all manner of regulator favors like the dismantling of net neutrality or the elimination…

Hackers have accessed approximately 632,000 emails from the Department of Defense and other federal agencies this year, the US Office of Personnel Management (OPM) confirmed. The report detailed a large-scale cyberattack in May 2023 in which emails from US government offices, private sectors, airlines, and academic entities were accessed by a suspected Russian group called “CL0P.” Alongside electronic personal data,…

FTX founder Sam Bankman-Fried plans to testify at his fraud trial, his lawyer told a federal judge Wednesday, ending speculation over whether a man who embraced the spotlight during his years atop the cryptocurrency world could remain silent after prosecutors portrayed him as a greedy entrepreneur who stole billions of dollars from customers. Attorney Mark Cohen told Judge Lewis A….

The Intercept has an interesting article that reveals another reason why some newspaper publishers are not great fans of the site: The New York Times tried to block a web crawler that was affiliated with the famous Internet Archive, a project whose easy-to-use comparisons of article versions has sometimes led to embarrassment for the newspaper. As the article explains, one of the…

At least 24 journalists are among the more than 6,000 people who have been killed in the ongoing war between Israel and Hamas, according to the latest tally released Wednesday by the Committee to Protect Journalists. In addition to the steep toll the fighting has meant for civilians in the region, the conflict in Gaza has resulted in the deadliest…

SEOUL – South Korean authorities arrested Kakao’s chief investment officer (CIO) for alleged stock price manipulation in a high-profile takeover battle over K-pop agency SM Entertainment. Bae Jae-hyun was arrested early on Thursday, according to the Seoul Southern District Court which issued the warrant. Internet giant Kakao won a controlling stake in SM after an intense bidding war with Hybe,…

U.S. Attorney’s Office Eastern District of Florida FOR IMMEDIATE RELEASE Thursday, October 12, 2023  BEAUMONT, Texas – A Houston man who served as a production manager in a counterfeit drug trafficking scheme has been sentenced to federal prison for drug trafficking and money laundering violations in the Eastern District of Texas, announced U.S. Attorney Damien M. Diggs today. Willis Reed,…

Suavecito was the first product that Douglas Mrdeza listed to sell on Amazon back in 2014. He had ordered a bit too much of the specialty hair pomade for his barbershop in East Lansing, Michigan. He wanted to see whether he could offload some online. It sold out. So, he ordered more. This time he paid Amazon some extra money…