Category: Corruption

SHANGHAI – The Chinese authorities are examining the role of PricewaterhouseCoopers in China Evergrande Group’s accounting practices after the developer was accused of a US$78 billion (S$105 billion) fraud, ramping up pressure on the global accounting giant that audited a slew of developers before the sector’s meltdown. The country’s securities regulator this week accused Evergrande’s main onshore subsidiary Hengda Real…

SINGAPORE – Mr Mikkel Larsen, chief executive officer of Singapore’s Climate Impact X (CIX), a carbon credit exchange and marketplace, has announced his resignation, CIX said in a statement on March 21. Mr Larsen, 49, will remain in his role until a new or interim CEO is appointed. He will continue to serve as a member of CIX’s board thereafter,…

THE HAGUE, Netherlands (AP) — In a decision hailed by an environmental group as a historic victory, an Amsterdam court ruled Wednesday that Dutch national airline KLM misled consumers in statements about sustainable aviation in a case that accused the carrier of “greenwashing.” Amsterdam District Court said in a statement that in some advertisements, that are no longer in use,…

The US Department of State announced the designation of former North Macedonia Special Chief Prosecutor, Katica Janeva; current mayor of Karpos, North Macedonia, Stevco Jakimovski; and former mayor of Kacanik, Kosovo, Xhabir Zharku, for their actions undermining the rule of law and the public’s faith in their respective governments’ democratic institutions and public processes. Janeva was found to be involved in corrupt acts,…

For too long, Americans have suffered from a convoluted property system that condemned them to pay some of the world’s highest commissions, up to 6 per cent on residential sales. The real estate agents’ lock on online listings drove up costs and combined with a shortage of affordable homes to shut all but the most affluent buyers out of the…

Republicans in the U.S. House of Representatives seeking to chart a part forward in their impeachment probe of President Joe Biden will on Wednesday question two former associates of his son Hunter. House Republicans say the president and members of his family improperly profited from policy decisions in which Biden, a Democrat, participated while vice president from 2009-17. The White House…

LONDON/ZURICH – A year after the banking crisis that felled Credit Suisse, the authorities are still considering how to fix lenders’ vulnerabilities – including in Switzerland, where the bank’s takeover by rival UBS created a behemoth. The Swiss government-sponsored rescue of Credit Suisse and US bank salvages in March 2023 doused the immediate fires kindled by a run at little-known…

  BlackRock and Singapore sovereign wealth fund GIC are exploring the sale of a network of gas pipeline assets in Britain hat could fetch about US$2 billion (S$2.67 billion), according to people familiar with the matter. The owners are working with investment bank Jefferies Financial Group to find potential buyers for Kellas Midstream, the people said, asking not to be…

JPMorgan is facing nearly $350 million in fines from bank regulators due to issues with its trade surveillance program. The Office of the Comptroller of the Currency said Thursday that it was assessing a $250 million civil penalty against JPMorgan Chase Bank because it found that the company “operated with gaps in trading venue coverage and without adequate data controls…

Benjamin Netanyahu’s ruling coalition is “in jeopardy”, according to a US intelligence assessment that highlighted mass protests against Israel’s prime minister and the prospect of looming elections. The conclusions over Netanyahu’s precarious political position were part of the US intelligence community’s “annual threat assessment” report on Monday, which reflects the “collective insights” of Washington’s intelligence agencies. “Netanyahu’s viability as leader…

  SINGAPORE – No Signboard Holdings is of the preliminary view that no action would have to be taken against interim chief executive officer Lim Teck-Ean. This comes after it having been legally advised with regard to allegations that the interim chief executive officer had breached his fiduciary duties, the food and beverage player said on March 11. In a…

As you read through the details of the DOJ investigation, ask yourself why Boeing was permitted to regulte itself. Deregulation is a choice made by government.  The Department of Justice (DOJ) has initiated a criminal investigation into the Boeing jetliner incident that occurred on an Alaska Airlines plane earlier this year, as reported by the Wall Street Journal. According to…

Department of Justice U.S. Attorney’s Office Office of Public Affairs FOR IMMEDIATE RELEASE Thursday, February 29, 2024  United States Also Reaches Settlement with Endo International in Bankruptcy Case Endo Health Solutions Inc. (EHSI), which is in bankruptcy, has agreed to resolve criminal and civil investigations related to the company’s sales and marketing of the opioid drug Opana ER with INTAC…

washington —  Civil liberties declined globally for the 18th consecutive year in 2023, with conflict and flawed elections the biggest factors, a new report has found. Political rights and civil liberties deteriorated for more than one-fifth of the population, the non-profit group Freedom House found. And only one-fifth of the 210 countries and territories the research group analyzed was found…

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…

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…