After 25 years of investigating instances of fraud and corruption, I am still amazed that otherwise law-abiding citizens will engage in fraudulent behavior. It also perplexes me that organizations place an extremely high weighting on the honesty of management and staff as a key fraud and corruption risk-mitigation tool.… Continue Reading
The U.K.’s Serious Fraud Office (SFO) obtained an order from a British judge last month forbidding the Wall Street Journal from printing the names of dozens of individuals who are expected to be named as co-conspirators in the SFO’s investigation of the London interbank offer rate (LIBOR).… Continue Reading
Before the Communist Party’s Third Plenum kicked off on November 9, the Development Research Center of the State Council, a government think tank, submitted a comprehensive reform blueprint to the central committee outlining reforms in various aspects of the state, dubbed the “383 Plan.”… Continue Reading
A former vice president from Venezuela’s state economic development bank pleaded guilty Monday and agreed to cooperate with prosecutors investigating a massive bribery and fraud scheme by a U.S. broker.
Maria de los Angeles Gonzalez de Hernandez, 55, admitted in federal court in New York to taking $5 million in kickbacks from Direct Access Partners LLC in exchange for bond-trading business from her employer, Banco de Desarrollo Económico y Social de Venezuela (Bandes).… Continue Reading
After a recent report by Muddy Waters Research called NQ Mobile “A ‘Massive Fraud’ Worth $0,” the Chinese target fought back, saying Muddy Waters’ accusations were out of the question.
NQ Mobile reportedly has brought a civil lawsuit against Muddy Waters in China.… Continue Reading