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Editors

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

Shruti J. Shah
Contributing Editor

Russell A. Stamets
Contributing Editor

Richard Bistrong
Contributing Editor

Eric Carlson
Contributing Editor

AML watch: The Egmont Group steps up enforcement against terrorist financing

The Egmont Group — Financial Intelligence Units from 151 jurisdictions, with 19 other observer organizations — issued its latest Communiqué from its meeting in Monaco last week, targeting terrorist financing.

The Egmont Group, founded in 1995, is used by enforcement agencies to share information and help each other develop evidence to prosecute financial crimes, such as money laundering, tax evasion, and graft.… Continue Reading

Former Bechtel exec jailed 42 months for taking Alstom bribes

A ex-Bechtel Corporation vice president was sentenced Monday to 42 months in prison for taking $5.2 million in kickbacks to rig bids for state-run power contracts in Egypt.

Asem Elgawhary, 73, of Potomac, Maryland pleaded guilty in December 2014 to mail fraud, conspiracy to commit money laundering, obstruction, and interference with the administration of the tax laws. … Continue Reading

Former senior Bechtel exec took $5 million in kickbacks

A former top executive of Bechtel Corporation pleaded guilty Thursday for taking $5.2 million in kickbacks to rig bids for state-run power contracts in Egypt.

Asem Elgawhary, 73, of Potomac, Maryland, entered his plea in federal court in Maryland to mail fraud, conspiracy to commit money laundering, and obstruction and interference with the administration of the tax laws. … Continue Reading

Mubarak jailed 3 years for embezzlement

Deposed former Egyptian president Hosni Mubarak was sentenced Wednesday by a Cairo court to three years in prison for embezzling public funds.

Mubarak’s two sons were jailed for four years on charges of stealing state funds that had been earmarked for the renovation of presidential palaces but were diverted to make lavish renovations to family properties.… Continue Reading

Freedom takes a hit

Freedom House said in its latest report that 54 countries showed overall declines in political rights and civil liberties, compared with 40 that showed gains.

“For the eighth consecutive year, Freedom in the World recorded more declines in democracy worldwide than gains,” Freedom House said.… Continue Reading

China graft joins the mile high club

Image courtesy of WikipediaAnother high-flying China official has been indicted for taking bribes.

Tian Xueren, the former deputy governor of Jilin Province, is accused of taking about $3 million on 85 occasions between 1995 and 2011.… Continue Reading