A former sales executive of Embraer SA was sentenced Wednesday to time served and fined $25,000 for paying a bribe to help sell jets to the giant oil company, Saudi Aramco.… Continue Reading
A special court in Spain is investigating executives at a state-owned defense company that allegedly paid millions in bribes to win weapons contracts with Saudi Arabia spanning two decades.
Audiencia Nacional, the Spanish court, is investigating five deals between Defex and Riyadh from 1992 to 2004. … Continue Reading
Saudi Arabia changed its law this week to remove the statute of limitations for anti-corruption investigations into current and former ministers of the world’s largest petroleum exporter. … Continue Reading
Your company has just won a major contract with a foreign government, and before you can even break out the champagne, your customer instructs you to engage a specific local subcontractor.… Continue Reading
It’s ironic that Saudi Prince Al-Waleed bin Talal, the richest tech investor in the Middle East, criticized block chain technology and Bitcoin by calling it a “fraud.”
The Gulf Cooperation Council countries, including Saudi Arabia, have been working since 2014 to weave sharia compliant Blockchain technology and Bitcoin into their existing financial and legal infrastructure, while transforming them all at the same time.… Continue Reading
The UK Serious Fraud Office has been investigating corruption allegations against Airbus subsidiary GPT on a Saudi contract overseen by the UK Military of Defense. The case has alarming similarities with the BAE-Al Yamamah case from a decade ago.… Continue Reading
Adnan Khashoggi, the Saudi arms dealer in the middle of the giant 1970s bribery scandal that led to enactment of the Foreign Corrupt Practices Act, has died in London at 81.… Continue Reading
Airbus Group SE said Thursday that French investigators have opened a preliminary investigation into allegations of fraud, bribery, and corruption in the company’s civil aviation business.
France’s financial crimes investigator — the Parquet National Financier — is investigating the same allegations already being probed by the UK Serious Fraud Office.… Continue Reading
Saudi Aramco reportedly confirmed Friday that one of its employees took a bribe for arranging a deal with aircraft maker Embraer SA.
Saudi Aramco told the Wall Street Journal an internal investigation found that an unnamed employee took a bribe in 2010 for “facilitating the purchase of three aircraft from Embraer.” … Continue Reading
Brazilian aircraft manufacturer Embraer SA is paying more than $205 million to the DOJ and SEC to resolve violations of the Foreign Corrupt Practices Act.
Embraer bribed officials in the Dominican Republic, Saudi Arabia, and Mozambique.… Continue Reading
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