News and commentary about white-collar crime, enforcement, and compliance
Harry Cassin
Publisher and Editor
Andy Spalding
Senior Editor
Jessica Tillipman
Senior Editor
Bill Steinman
Senior Editor
Richard L. Cassin
Editor at Large
Elizabeth K. Spahn
Editor Emeritus
Cody Worthington
Contributing Editor
Julie DiMauro
Contributing Editor
Thomas Fox
Contributing Editor
Marc Alain Bohn
Contributing Editor
Bill Waite
Contributing Editor
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
Israeli billionaire Beny Steinmetz and two associates are facing criminal charges in Switzerland for allegedly paying bribes to win mining licences in Guinea between 2005 and 2010.
The Geneva public prosecutor said in a statement Monday the defendants are charged with the criminal offenses of “foreign bribery and forgery.”… Continue Reading
The press in Israel reported this week that Aeronautics Ltd., one of the largest military drone manufactures in Israel, is being investigated for suspected bribery of a foreign public official.
If confirmed, the investigation into foreign bribery offenses would be the fourth in Israel.… Continue Reading
Beny Steinmetz was detained Monday in Israel for a second time for questioning in connection with bribery of high ranking foreign officials in Guinea.
The police action was part of a joint investigation by the Israeli Police and authorities from Switzerland, the United States and Romania.… Continue Reading
Yesterday I participated as a panelist at a roundtable on the “Increase in the Enforcement of the Foreign Bribery Statue in Israel,” part of the Globes Newspaper’s Capital Markets Conference.
As seems to always be the case with anti-corruption matters, on the day of the conference there were new anti-corruption headlines.… Continue Reading
Israel’s enforcement of its foreign bribery statute took years to get off the ground but it’s now going full speed ahead.
Last week we witnessed Israel’s first conviction under its foreign bribery statues that was recorded in the NIP case, which I reported here in November.… Continue Reading
Authorities in Israel detained billionaire Beny Steinmetz for questioning about money laundering in connection with bribes allegedly paid to officials in Guinea for mining rights.
A spokesperson for Steinmetz’s company, BSG Resources, reportedly confirmed Monday that Steinmetz had been detained for questioning, Reuters said.… Continue Reading
The former Minister of Mines and Geology of the West African country of Guinea was arrested and charged Tuesday with laundering $8.5 million in bribes he allegedly took from a Chinese conglomerate in exchange for mining rights.… Continue Reading
BSG Resources Limited said it sent a letter to Rio Tinto plc Monday alleging that Rio Tinto contributed to the loss of BSGR’s mining rights in Simandou, Guinea by paying bribes and making false allegations.… Continue Reading
A federal court in Florida last week granted a request by prosecutors to seize three properties and various restaurant equipment from Mamadie Touré.
Touré, left, is the widow of Lansana Conté, a dictator who ruled the west African country of Guinea for 24 years before he died in 2008.… Continue Reading
During the third calendar quarter, there was one corporate settlement of an FCPA enforcement action and two individual resolutions. (The third quarter last year was less active, with no corporate resolutions.)… Continue Reading
A French citizen who used to work for mining giant BSG Resources was sentenced Friday to two years in prison for obstructing an investigation into bribery allegations.
Frederic Cilins, 51, faced up to five years in prison after pleading guilty in March in federal court in New York.… Continue Reading
Brazilian miner Vale said it is considering legal options after the government of Guinea announced Friday the official revocation of mining licenses for iron ore concessions held by a joint venture between Vale and BSG Resources.… Continue Reading