On July 6, the head of Turkey’s central bank Murat Cetinkaya — who in 2017 publicly stated that he felt threatened by Bitcoin — was unexpectedly removed from his job by President Recep Tayyip Erdogan.… Continue Reading
The president of oil-rich Azerbaijan and his two daughters own foreign luxury flats and homes — three of them in London — together worth $140 million.
Ilham Aliyev took over as president of Azerbaijan from his father in 2003.… Continue Reading
In a criminal fraud and False Claims Act settlement Monday with total penalties amounting to $389 million, a whistleblower collected $16 million from the $101 million paid to settle the FCA portion of the case.… Continue Reading
The Securities and Exchange Commission said Monday it sanctioned two former employees in the Dubai office of a U.S.-based defense contractor for violating the Foreign Corrupt Practices Act by taking government officials in Saudi Arabia on a “world tour” to help win business for the company.… Continue Reading
Extradition is the official process where one country transfers a suspected or convicted criminal to another country. The process dates back to at least the 1300s BC, when Ramesses II of Egypt negotiated an extradition treaty with Hattusili III, a Hittite king.… Continue Reading
The UK Serious Fraud Office said Monday it has launched a formal investigation of survey and construction services firm Sweett Group.
A notice on the SFO website dated July 14 said:
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The SFO confirmed today that the Director has opened an investigation into Sweett Group in relation to its activities in the United Arab Emirates and elsewhere.
A passport control officer in Dubai accepted bribes to alter exit report records, making it look like nearly 5,300 people left the country between August 2007 and August 2012 when they actually went no where.… Continue Reading
Deutsche Bank agreed on Monday to turn over documents related to a regulatory probe into the operations of its Dubai-based wealth management division.
The Frankfurt-based lender will hand over the details sought by the Dubai Financial Services Authority (DFSA) within 28 days and pay the regulator’s costs, as noted in a DFSA statement on Monday.… Continue Reading