Corruption Ledger

On September 16, 2022, the U.S. Department of the Treasury (“Treasury”) published three reports in response to a March 2022 Executive Order concerning the development of digital assets.  The reports address the future of money and payments; implications for consumers, investors, and businesses; and the illicit financing risks of digital assets.  Secretary Yellen described the reports as identifying the challenges…

On August 8, 2022, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) sanctioned virtual currency mixer Tornado Cash for having laundered more than USD 7 billion worth of virtual currency since its founding in 2019.  This includes over USD 455 million worth of stolen virtual currency associated with the Lazarus Group, a “Democratic People’s Republic of…

“Russia should not benefit from European knowledge and expertise.”  That is the view of European Commission (“EC”) President Ursula von der Leyen, who recently proposed an eighth package of sanctions against Russia in response to “escalation” in Ukraine. Among the “biting” new sanctions will be a wider ban on the provision of European services to Russia.  The list of banned…

The SEC charged 15 broker-dealers and one affiliated investment adviser for widespread and longstanding failures by the firms and their employees to maintain and preserve electronic communications. The firms admitted the facts set forth in their respective SEC orders, acknowledged that their conduct violated recordkeeping provisions of the federal securities laws. The following eight firms (and five affiliates) have agreed…

Oracle Corporation settled charges with the SEC after allegedly violating provisions of the Foreign Corrupt Practices Act (FCPA). Oracle subsidiaries in Turkey, the United Arab Emirates (UAE), and India were said to have created and used slush funds to bribe foreign officials in return for business between 2016 and 2019. Oracle agreed to cease and desist from committing violations of…

Mahamat Said Abdel Kani – a top-ranking leader of the mostly-Muslim Séléka militia – pleaded not guilty to all charges, which relate to atrocities carried out in 2013, in the Central African Republic capital, Bangui. Much of the violence stemmed for clashes between Séléka and the mostly-Christian Anti-balaka faction. Occupation Before the crimes were committed, from late 2012 to early…

On September 15, 2022, Deputy Attorney General Lisa Monaco announced updated guidelines for the U.S. Department of Justice’s (“DOJ”) corporate criminal enforcement in a speech at New York University Law School. Monaco previously announced in October 2021 that DOJ would take a tougher stance on white collar crime. Shortly thereafter, Monaco formed an advisory group to evaluate potential changes to…

In a letter dated August 16, 2022, U.S. Sen. Pat Toomey addressed FDIC acting chairman Martin Gruenberg to inquire about some recent FDIC actions that came to light by way of whistleblower reporting. Toomey said that the affected parties came forward to reveal that their banks received letters from the FDIC discouraging the bank from doing business with legitimate crypto…

UK week ending 5 August 2022 Video and notes by Dr. John Campbell 799 deaths involving COVID-19 registered (6.5%) – Down from 923 in the previous week (7.3%) – (First decrease following six weeks of increases) – Lag of three weeks between infection and dying as a result of infection – Total number of deaths registered in the UK, W/E…

Russia claims that Ukrainian forces have repeatedly launched targeted attacks hitting the Zaporizhzhia nuclear power plant, a sensitive area known as the largest nuclear power plant in Europe with at least six operating reactors. On August 7, the military-civilian administration of Energodar city, located in the north-western part of Zaporizhzhia Oblast in Ukraine, accused Ukrainian forces of launching a 220…

Aug 10, 2022. A federal jury yesterday convicted a former Media Partnerships Manager for the Middle East/North Africa (MENA) region at Twitter of acting as a foreign agent without notice to the Attorney General, conspiracy, wire fraud, international money laundering, and falsification of records in a federal investigation. The verdict follows a two-week trial before the Honorable Senior U.S. District…

Aug 10, 2022. A federal jury in the Northern District of Illinois convicted two former precious metals traders at JPMorgan Chase & Co. (JPMorgan) today of fraud, attempted price manipulation, and spoofing in a multi-year market manipulation scheme of precious metals futures contracts that spanned over eight years and involved thousands of unlawful trading sequences. According to court documents and…

Aug 8, 2022. The United States of America has been authorized to seize an Airbus A319-100 (the Airbus) owned and controlled by sanctioned Russian oligarch Andrei Skoch, pursuant to a seizure warrant from the U.S. District Court for the Southern District of New York, which found that the airplane is subject to seizure and forfeiture based on probable cause of…

Aug 6, 2022. Democracy Now Video

Aug 5, 2022.  Violence in Enga, Hela and Southern Highlands Provinces – The violent episodes that broke out in the provinces of Enga, Hela and Southern Highlands last May have since escalated, resulting in a humanitarian situation. According to unofficial estimates, over 300 people died, 25,700 students are unable to attend school, and 557,800 people have no or limited access…

Aug 5, 2022. The US-Led Drive to Isolate Russia and China Is Falling Short While the US and its allies have sanctioned Russia for its invasion of Ukraine, half of the countries in the Group of Twenty have not signed up. When Group of Seven leaders gathered in the Bavarian Alps in June, they pledged to stand with Ukraine for…