News and commentary about white-collar crime, enforcement, and compliance
Harry Cassin
Publisher and Editor
Andy Spalding
Senior Editor
Jessica Tillipman
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
Bill Steinman
Contributing Editor
Twenty-five supercars seized by Switzerland in 2016 from Teodoro Nguema Obiang Mangue, the vice president of Equatorial Guinea and son of the president, will be auctioned to the public in September.… Continue Reading
Police in Brazil confiscated a bag of luxury watches and cash from Teodoro Nguema Obiang Mangue and his entourage after their private plane landed at an airport near Sao Paulo.
Obiang is the vice president of Equatorial Guinea and son of the president.… Continue Reading
Last week police in Malaysia arrested former prime minister Najib Razak after seizing $273 million of loot from his houses and condos.
Prosecutors think Najib and his wife bought the loot with money stolen from Malaysia’s sovereign wealth fund, 1MDB.… Continue Reading
A French court last week convicted Teodoro Nguema Obiang Mangue, the vice president of Equatorial Guinea and son of the president, of embezzling public money and spending it on himself.
The judge confiscated all of Obiang’s assets in France, fined him €30 million ($35 million), and gave him a suspended three-year prison sentence.… Continue Reading
Shell companies have been called the “getaway cars” of corruption. In some jurisdictions, including the United States, individuals can easily set up anonymous companies and use them to hide stolen funds.… Continue Reading
The son of Equatorial Guinea’s president went on trial this week in France for embezzling more than $112 million from his country’s treasury.
Teodoro Nguema Obiang Mangue, also known as Teddy Obiang, is the second vice president of Equatorial Guinea.… Continue Reading
The Financial Crimes Enforcement Network (FinCEN) is expanding required reporting of beneficial owners for cash real estate purchases beyond Manhattan and Miami to six new areas in California and Texas.
The Geographic Targeting Orders (GTOs) require title insurance companies to identify the natural persons behind domestic and foreign companies used to pay all cash for luxury residential real estate in six major metropolitan areas.… Continue Reading
A recent paper I published in the Journal of Money Laundering Control looks at a prominent series of cases brought by the United States and France against assets owned by Teodoro Nguema Obiang, Second Vice President of the Republic of Equatorial Guinea and son of the country’s president.… Continue Reading
It is repellent to read how a tiny African country like Equatorial Guinea has been systematically plundered. For the culprit to be a member of the ruling family only adds weight to the wrong.… Continue Reading
The BOTA Foundation was able to take the $115 million from the corruption case associated with James GIffen and use it effectively and efficiently to assist more than 200,000 poor children, youth and their families in Kazakhstan. … Continue Reading
With most enforcement pressure bearing down on corporate supply side bribe payers, it is no surprise that the business community feels beleaguered. The fundamental unfairness is of course the impunity with which bribe takers operate, a frequent topic on the FCPA Blog.… Continue Reading
The Department of Justice said Friday it reached a settlement of its civil forfeiture cases against assets in the United States owned by the Second Vice President of the Republic of Equatorial Guinea Teodoro (Teddy) Nguema Obiang Mangue that he purchased with the proceeds of corruption. … Continue Reading