The Pennsylvania-based consultant who bribed an officer at the European Bank for Reconstruction and Development was sentenced in 60 months in prison Tuesday for violating the Foreign Corrupt Practices Act.… Continue Reading
A UK court sentenced a former banker at the European Bank for Reconstruction and Development to six years in prison for taking $3.5 million in bribes from a Pennsylvania-based consultant.… Continue Reading
Since Belarus’s independence from the Soviet Union in 1991, it has maintained strong economic and cultural ties with Russia and has been dependent on Russia’s economic support.
Recent conclusions by international finance institutions, such as the World Bank and the European Bank for Reconstruction and Development (EBRD), however, suggest that the Belarusian government is demonstrating an eagerness to revive its relationship with the West and an intention to open its market to foreign businesses.
This effort to pivot away from its Eastern neighbor is primarily due to recent geopolitical developments in the region, including the conflict between Russia and Ukraine that started in 2014, and has led to a broader political crisis with Russia on the one side and the United States and European nations on the other, with the Western sanctions against Russia having a trickle-down effect on Belarus’s economy.… Continue Reading
The former owner and president of a Pennsylvania consulting business pleaded guilty Wednesday to violating the Foreign Corrupt Practices by bribing an official at the European Bank for Reconstruction and Development.… Continue Reading
A federal grand jury in Philadelphia indicted the former owner and president of the Chestnut Consulting Group Inc. Tuesday for bribing an official of an international development bank.… Continue Reading
The government of Ukraine signed an anti-corruption initiative Monday with the European Bank for Reconstruction and Development (EBRD) to establish a Business Ombudsman Institution.… Continue Reading
Kellogg Brown & Root LLC, Technip S.A., and JGC Corp. agreed to pay $17 million in penalties in a settlement with the African Development Bank (ADB) for corrupt practices by affiliated companies in connection with contracts for liquefied natural gas production plants on Bonny Island, Nigeria from 1995 until 2004.… Continue Reading