Posts Tagged: Mahmoud Thiam
Tackling demand-side bribery, as the proposed Foreign Extortion Prevention Act aims to do, is complex. On the supply side, we know in most cases why business people pay bribes. In the words of the FCPA, it’s to obtain or retain business or secure an improper advantage.… Continue Reading
A New York banker who served as mining minister of the West African country of Guinea was jailed seven years Friday for laundering bribes from Chinese companies.
Mahmoud Thiam, 50, an American citizen, took $8.5 million from executives of China Sonangol International Ltd.… Continue Reading
A U.S. citizen who served as mining minister of the West African country of Guinea was convicted by a federal jury Wednesday of laundering $8.5 million in bribes he took from Chinese companies in exchange for valuable mining rights.… 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.
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