OTHER THINGS YOU MAY HAVE MISSED – FEBRUARY 3

3 February 2020

DoJ LAWYERS CLAIMED TO HAVE IMPROPERLY USED REQUESTS FOR OVERSEAS EVIDENCE TO BUY MORE TIME TO BRING SOME FRAUD CASES

On 2 February, the Wall Street Journal reported that the Inspector General watchdog for the DoJ had received a memo alleging that the Department’s lawyers have improperly used requests for overseas evidence to buy more time to bring some fraud cases – by sending such a request to the UK when they already had access to similar information.  Suspects of many federal crimes have a 5-year statute of limitations and cannot be charged more than 5 years after the crime has been committed.

https://www.wsj.com/articles/justice-department-accused-of-abusing-process-to-extend-statute-of-limitations-11580657654

 

INSURANCE MOGUL BRIBERY TRIAL TO COMMENCE ON 18 FEBRUARY IN US

On 31 January, the Wall Street Journal reported that the trial on federal bribery charges of Greg Lindberg.  Lindberg bought life insurers in the US and abroad and loaned at least $2 billion of their assets to entities he controlled, often using opaque shell companies as intermediaries to direct the funds, and had operations in Malta.  He was indicted in 2019 on bribery and conspiracy charges in connection with an alleged attempt to bribe a North Carolina Insurance Commissioner.

https://www.wsj.com/articles/insurance-tycoon-greg-lindbergs-bribery-case-heads-to-court-11580502523

https://www.wsj.com/articles/financier-who-amassed-insurance-firms-diverted-2-billion-into-his-private-empire-11551367856

 

“BLOOD COAL” THAT FUNDS RUSSIA’S OCCUPATION OF UKRAINE

On 31 January, Defense One reported claims that Russia is funding its military actions and illegal occupation by the illicit “blood coal” trade from the so-called Donetsk and Luhansk People’s Republics.  It identifies an individual who it says transport coal from the Donbas region to Russia, where it’s repackaged and sent to Europe with a Russian label on it.  The profits support the pro-Russian militants and bogus embassies of the Donetsk and Luhansk People’s Republics in Marseilles and Turin.

https://www.defenseone.com/ideas/2020/01/stop-blood-coal-funds-russias-occupation-ukraine/162809/?oref=defenseone_today_nl

UK: ASSESSING MODERN SLAVERY AND HUMAN TRAFFICKING RISKS

On 30 January, Bryan Cave Leighton Paisner in the UK published a briefing saying that the Modern Slavery Act was introduced in 2015 with criminal offences of slavery, servitude, forced or compulsory labour and human trafficking.  It also included a disclosure requirement, requiring a commercial organisation carrying on a business, of part of a business, in the UK with a turnover of £36 million to produce an annual statement on steps taken to combat slavery and human trafficking not only to a business’ direct operations but also their supply chains.  It looks at how the Act’s requirements fit in with Environmental, Social and Governance (ESG) requirements in general.  It points out that several other countries also have (or soon will have) similar transparency and reporting requirements, and provides a short checklist to enable a business to see if it may be affected by the requirements.

https://retaillawbclp.com/assessing-slavery-and-human-trafficking-risks/

 

INDIA; GOVERNMENT PROMOTES DEFENCE EXPORTS TO 34 COUNTRIES

On 3 February, Devdiscourse reported that the Indian Government has introduced a new scheme to promote defence exports through defence attaches to their respective countries.  Under this scheme, funds have been allocated for export promotion to 34 countries.   It also says that Defence Public Sector Undertakings (DPSU) have opened offices in a number of countries in Asia and near Middle East, and an Export Promotion and Investor Cell have been set up under the Department of Defence Production to facilitate Indian companies’ efforts.  It also says that notification of an Open General Export Licence (OGEL) is also an important step in this context.

https://www.devdiscourse.com/article/headlines/859273-india-cannot-restrict-defense-cooperation-to-few-countries-rajnath-singh

 

BRAZIL CRITICISED FOR BACKTRACKING ON TERROR FUNDING FIGHT

On 3 February, the Financial Times reported that the decision could cause difficulties for the country as it prepares for an AML/CFT evaluation by FATF.  The decision is to curb the activities of the Council for Financial Activities Control (COAF), which reports on financial crimes – amid fears that the Bolsanaro administration could use it against social activists.  It is not the only problem affecting COAF, as a supreme court judge last year banned it from passing suspicious financial data to prosecutors without obtaining judicial approval, although this decision was later reversed.

https://www.ft.com/content/1fa9e73c-3ec5-11ea-a01a-bae547046735

 

DEA NATIONAL DRUG ASSESSMENT: OPIOID EPIDEMIC CONTINUES; COCAINE AND METH PROBLEM WORSE

On 30 January, Homeland Security Today reported that the DEA report outlines the threats posed to the US by domestic and international drug trafficking and the abuse of illicit drugs has been published.  In 2018, drug overdose deaths declined over 4% overall, with even greater decreases – over 13% – in overdoses from controlled prescription opioids.  It warns that the stimulant threat, including methamphetamine and cocaine, is worsening and becoming more widespread as traffickers continue to sell increasing amounts outside of each drugs’ traditional markets.  It also says that every year since 2011, drug poisoning deaths have outnumbered deaths by firearms, motor vehicle crashes, suicide, and homicide.  Approximately 192 people died every day from drug poisoning in 2017.

https://www.hstoday.us/subject-matter-areas/emergency-preparedness/dea-national-drug-assessment-opioid-epidemic-continues-cocaine-meth-problem-worse/

The National Drug Threat Assessment is at –

https://www.dea.gov/sites/default/files/2020-01/2019-NDTA-final-01-14-2020_Low_Web-DIR-007-20_2019.pdf

 

US DEPARTMENT OF TRANSPORTATION HUMAN TRAFFICKING NEW INITIATIVES AND FUNDING

On 29 January, Homeland Security Today reported that, in the light of a new Executive Order requiring initiatives, the US Transportation Secretary has announced a series of efforts to combat human trafficking in the transportation sector.

https://www.hstoday.us/channels/federal-state-local/department-of-transportation-to-put-brakes-on-human-trafficking-with-new-initiatives-and-funding/

 

CONFLICT IS STILL AFRICA’S BIGGEST CHALLENGE IN 2020

An article on the blog site of ETH Zurich on 3 February starts by saying that, for the African Union, 2020 is supposed to be a landmark year. Its ‘silencing the guns’ initiative is aimed at ‘ending all wars, civil conflicts, gender-based violence, violent conflicts and preventing genocide in the continent by 2020.  The post asks, can African leaders repeat the show of unity achieved on continental free trade to silence the guns?  In remarks on intra-state rivalries, as well as terrorism and cross-border tensions.  It says that statistics bear out the impression that conflict on the continent is getting worse, not better.  The Armed Conflict Location & Event Data Project, which monitors incidents of conflict around the world, found that there had been 21,600 incidents of armed conflict in Africa up to 30 November – for the same period in 2018, that number was just 15,874, a 36% increase.

https://isnblog.ethz.ch/conflict/conflict-is-still-africas-biggest-challenge-in-2020

 

PAKISTAN: EXCISE DEPT REPORTS MORE THAN 50% SHORTFALL DUE TO PROPERTY TAX EVASION

Pakistan Today on 3 February reported that it is said that the department is currently facing a huge shortfall in collections from entertainment, motor vehicle, and other taxes due to poor performance of officials who allow massive tax evasions.

https://www.pakistantoday.com.pk/2020/02/03/excise-dept-reports-more-than-50pc-shortfall-due-to-property-tax-evasion

 

DUBAI POLICE UNCOVER £6 MILLION ONLINE SCAM

Gul News on 3 February reported on Operation Fox Hunt involving fraudsters who specialised in cyber scam, with 81 fake businesses across 18 countries.  9 fraudsters were arrested.  The operation revealed a hidden online fraud network deceiving victims into transferring money in return for job opportunities.

https://gulfnews.com/uae/crime/dubai-police-uncover-dh32-million-online-scam-operation-fox-hunt-1.1580748006093

 

SOUTH AFRICA: NATIONAL LOTTERIES COMMISSION APPOINTS AUDIT FIRM TO INVESTIGATE GRAFT ALLEGATIONS

On 3 February, Business Day reported that an audit firm is to lead an investigation into allegations of improper use of funds raised for charities.  The latest corruption allegations implicate a chief operating officer who is accused of channelling multimillion-rand grants to non-profit organisations that involved his family and friends.

https://www.businesslive.co.za/bd/national/2020-02-03-national-lotteries-commission-appoints-audit-firm-to-investigate-graft-allegations

 

WASTE PAPER FRAUD SEES 5 DIRECTORS SENTENCED

On 3 February, Let’s Recycle reported that 5 company directors from Essex have been sentenced for their part in a £3.1 million fraud of evading Corporation Tax on profits from sales of waste paper bi-product to a local recycling company.  It is said that during the fraud, the directors slashed staff pay – including their own – telling employees that this would assist with cash flow and keep the business afloat.  However, they were covertly stealing huge amounts of taxpayer money to line their own pockets and received significant payments, separate from any legitimate forms of payment from another company.

https://www.letsrecycle.com/news/latest-news/waste-paper-fraud-directors-jailed/

 

AMNESTY INTERNATIONAL URGES PARTICIPANTS IN A MINING CONFERENCE IN SOUTH AFRICA TO ADDRESS HUMAN RIGHTS VIOLATIONS

On 3 February, OCCRP reported that a conference centred on promoting the furtherance of the mining industry in Africa will run alongside a parallel one organised by several civil organisations, including Amnesty, to bring attention to alleged human rights violations in the mining industry in Africa.  An official from Amnesty International is quoted saying that, “From child labour in the Democratic Republic of Congo to squalid living conditions for workers at South Africa’s Marikana mine, the mining industry is tainted with human rights abuses. Mining firms have often caused or contributed to human rights abuses in pursuit of profit while governments have been too weak in regulating them effectively”.

https://www.jurist.org/news/2020/02/amnesty-urges-africa-mining-conference-to-address-rights-violations/

 

UKRAINIAN MP FAILED TO DECLARE 2 VILLAS IN SPAIN

On 3 February, OCCRP reported allegations that Ukrainian MP Oleksandr Gerega has failed to include 2 luxurious Spanish properties, estimated to be worth more than €6 million in his asset declaration.

https://www.occrp.org/en/27-ccwatch/cc-watch-briefs/11546-ukrainian-mp-failed-to-declare-2-villas-in-spain

 

ISLE OF MAN AND BREXIT: THE EUROPEAN UNION AND TRADE ACT 2019

As the UK leaves the EU (dragging the Isle of Man, Crown Dependencies and Gibraltar along in its wake), the Isle of Man Government has put notes about the application of the relevant 2019 Act and its effects on a government website.

https://legislation.gov.im/cms/

 

OECD ON TRACK TO REACH AGREEMENT IN 2020 ON TAX AND DIGITALISATION

On 3 February, an article from Out-Law said that an outline of a possible proposal to address the tax challenges of digitalisation has been agreed by 137 countries, with the aim of reaching a final agreement by the end of 2020, the OECD has announced.  However, at the end it warns that Pascal Saint Amans, director of the OECD’s Centre of Tax Policy and Administration (who also said the project was “challenging”), said, “We do not have a plan B”, and that there would then be a “big risk” of a trade war based on tax disputes if no agreement was reached.

https://www.pinsentmasons.com/out-law/news/oecd-agreement-in-2020-tax-and-digitalisation

 

US CUSTOMS AND BORDER PROTECTION (CBP) PROCESSED $2.7 TRILLION OF IMPORTS AND 410 MILLION TRAVELLERS LAST YEAR

On 3 February, Homeland Preparedness News reported on the release of the Trade and Travel Fiscal Year 2019 Report.  It is said that CBP –

  • processed 135.7 million international air travellers, a 32.8% increase over the past 6 years;
  • with its partners, implemented biometric facial comparison technology at ports of entry;
  • saw more than 21.5 million travellers were processed through the Preclearance Program;
  • had more than 1.1 million new members enrolled in Trusted Traveler Programs;
  • intercepted last year more than 56,000 harmful pests; and
  • detected more than 1.75 million prohibited plant materials, meats, and animal by-products.

https://homelandprepnews.com/stories/43684-customs-and-border-protection-processed-2-7t-in-imports-last-year/

 

DENMARK ARRESTS 3 IRANIANS ACCUSED OF SPYING FOR SAUDI ARABIA

On 3 February, Rferl reported that 3 members of the Arab Struggle Movement for the Liberation of Ahwaz (ASMLA), a group seeking a separate state for ethnic Arabs in Iran’s south-western province of Khuzestan, carried out espionage activities from 2012 to 2018, and collected information about individuals in Denmark and abroad and passed on this information to a Saudi intelligence service.

https://www.rferl.org/a/denmark-arrests-three-iranians-accused-of-spying-for-saudi-arabia/30414988.html

 

EXXON’S “EXPLOITATIVE OIL DEAL” IN GUYANA WILL DEPRIVE THE COUNTRY OF UP TO $55 BILLION

On 3 February, NGO Global Witness published a news release about a new Global Witness investigation based on an OpenOil analysis.  It is said to show how the oil major used aggressive tactics and threats to pressure inexperienced Guyanese officials to sign the deal for the Stabroek licence – one of the world’s largest oil finds in years.  It also claims that evidence seen by Global Witness shows how Exxon paid for a lavish trip for the Natural Resources Minister to visit its Texas HQ during the Stabroek negotiations. The trip included a first-class flight, limousine transportation, and an extravagant dinner at an exclusive restaurant.  This, it said, may violate Exxon’s internal policy.  It is said that the Stabroek deal is not the only questionable licence that Exxon obtained in Guyana.  Global Witness has called on Guyana to act, and for the US State Department to encourage Exxon to renegotiate with Guyana.

https://www.globalwitness.org/en-gb/press-releases/exxons-exploitative-oil-deal-in-guyana/

 

US INTERNATIONAL TRADE COMMISSION TO INVESTIGATE ILLEGAL SEAFOOD IMPORTS

On 3 February, American Shipper reported that, in response to a recent request from the House of Representatives Ways and Means Committee, the ITC will investigate the integrity of the US seafood import supply chain, the extent illegal seafood products are imported into the country and the impact this has on domestic fishermen.  It is reported that up to 90% of the seafood consumed in the US today is imported and about 31%, or $23 billion a year, of those fish products are considered illegally caught.

https://www.freightwaves.com/news/itc-investigates-illegal-seafood-imports

 

 

 

 

 

 

US INTERNATIONAL TRADE COMMISSION TO INVESTIGATE ILLEGAL SEAFOOD IMPORTS

On 3 February, American Shipper reported that, in response to a recent request from the House of Representatives Ways and Means Committee, the ITC will investigate the integrity of the US seafood import supply chain, the extent illegal seafood products are imported into the country and the impact this has on domestic fishermen.  It is reported that up to 90% of the seafood consumed in the US today is imported and about 31%, or $23 billion a year, of those fish products are considered illegally caught.

https://www.freightwaves.com/news/itc-investigates-illegal-seafood-imports

RESEARCHERS AT CYBERSECURITY COMPANY RAN A SIMULATED FACTORY NETWORK FOR 7 MONTHS AND CRIMINALS RUSHED IN

On 28 January, Homeland Security Today reported that the cybersecurity company’s simulated factory network saw different attackers used the mock network, or honeypot, to mine cryptocurrency and infected it with 2 strains of a ransomware.  The researchers hope their findings will help factories strengthen their defences against a threat that shows no sign of abating.

https://www.hstoday.us/subject-matter-areas/infrastructure-security/researchers-set-up-a-mock-factory-network-and-watched-the-criminals-rush-in/

https://www.cyberscoop.com/trend-micro-honeypot-ransomware-factory-s4/

OTHER THINGS YOU MAY HAVE MISSED – FEBRUARY 2

2 February 2020

CORONAVIRUS: A WAKE-UP CALL ON ILLEGAL WILDLIFE TRADE?

On 29 January, the Basel Institute on Governance published an article noting that, following the outbreak of the virus, the Chinese government shut a market in the city of Wuhan that sold everything from rats to wolf pups and civet cats.  It also locked down the city and banned the trade in wildlife nationwide while it battles to contain the nascent epidemic.  It also comments that previous epidemics – SARS, sparked by the trade in wild civet cats, and Ebola, which may have been transmitted from a monkey – had links to wildlife.  It states the obvious, that hygiene and veterinary controls designed to stop the transmission of inter-species diseases, and to prevent diseases from crossing borders, cannot be applied to smuggled wildlife and wildlife goods.  There is also the problem of corruption – the article noting that the market in Wuhan was recently given a clean bill of health.  It suggests that using the threat of epidemics might be a useful angle for awareness campaigns targeting the illegal wildlife trade.

https://www.baselgovernance.org/blog/coronavirus-wake-call-illegal-wildlife-trade

 

SHOULD BOUGAINVILLE BECOME AN INDEPENDENT NATION?

On 30 January, the Guardian in Australia carried a fascinating podcast and article revealing something new to me.  The small island is a self-governing part of Papua New Guinea, but held a referendum in 2019 on independence.  The article looks at the background and the role of a RTZ mine in the story.

https://www.theguardian.com/australia-news/audio/2020/jan/31/the-birth-of-bougainville-the-worlds-newest-country

 

PRACTICAL CITES TRAINING FOR PORT CONTROL UNITS IN PANAMA

On 2 February, the UN Container Control Project announced that, with the support of UK Border Force, the 6 PCU in Panama had been provided with practical training on CITES control of the trafficking of endangered species of flora and fauna.  The CCP role is to build capacity to improve security, facilitation standards and border control of containerised traffic.

https://twitter.com/UNODC_WCO_CCP/status/1223254022846668800

https://www.unodc.org/unodc/en/ccp/index.html

THE $150 BILLION BUSINESS OF HUMAN TRAFFICKING

On 2 February, Forbes magazine carried an article following the recent Summit on Human Trafficking held at the White House (but boycotted by several prominent organisations, alleging that the US Government immigration stance was undermining human rights protections).  It is said that global statistics on human trafficking are on the rise, that it is a concern for every country and that the International Labor Organization (ILO) had estimated that there are currently 25 million victims of human trafficking around the world.  One organisation (which boycotted the Summit) is reported as saying that examples for private sector involvement in human trafficking includes traffickers using banks to deposit and launder their earnings; use planes, buses and taxi services to transport their victims; hotel rooms use is integral also to sex trafficking; and traffickers are active users of social media platforms to recruit and advertise the services of their victims.   It looks at the role the banking industry could (or does) play in combating trafficking, and the red flags that the US banking industry had identified.  It then considers the hotel and health care sectors.  It concludes saying that the US President had signed a new Executive Order intended to combat human trafficking and online child exploitation, including by adding a new position at the White House to focus on the issue.

https://www.forbes.com/sites/carmenniethammer/2020/02/02/cracking-the-150-billion-business-of-human-trafficking/#4dc44ad94142

 

US COULD FACE DIFFICULTIES SANCTIONING DANSKE BANK OVER MONEY LAUNDERING-REPORT

On 1 February, the New York Times reported that any potential fine imposed by the DoJ said the fine could be significantly lower than expected because Danske does not have a banking licence in the US, noting that banks tend to worry more over US fines as they are generally larger than those imposed in Europe.

https://www.nytimes.com/reuters/2020/02/01/business/31reuters-danske-bank-moneylaundering.html

 

OPERATORS OF MARIJUANA HYDROPONICS FIRM IMPRISONED FOR SECURITIES FRAUD

On 2 February, CBS in Denver reported that 2 Colorado men and another from the Dominican Republic have been sentenced to federal prison terms for their roles in a securities fraud conspiracy that cost investors more than $10 million.  They set up a company in 2010 that retrofitted steel shipping containers so that plants could be grown inside them with the use of hydroponics, the soil-less, water-dependent form of agriculture. In its later years, the company’s “pharma pods” attracted business from marijuana growers seeking to cash in on the state’s new cannabis industry, as commercial sales began from 2014.  One of them already had a securities-related felony conviction, and the 2 men, with the aid of the, falsified documents and fraudulently permitted unrestricted shares of the company to be sold on the open market.

https://denver.cbslocal.com/2020/02/02/william-sears-scott-dittman-fusionpharma-pharma-pods-securities-fraud

 

WOMAN INVOLVED IN LONG STAND-OFF WITH US MARSHALS IN 2007 OVER $1.9 MILLION TAX DEBT TO BE RELEASED

The Daily Mail reported on 2 February that a 78-year-old woman jailed for 35 years for tax evasion is to be released after serving 12.  She had been convicted on conspiracy, weapons and obstruction of justice charges.

https://www.dailymail.co.uk/news/article-7958623/Woman-78-standoff-protesting-1-9-million-tax-evasion-released-12-years-prison.html

 

SRI LANKA TO PROBE AIRLINER DEAL AFTER AIRBUS CORRUPTION SETTLEMENT

In its 3 February edition, the Japan Times reported that Sri Lanka was the latest country to announce a review of past dealings in the wake of the Airbus settlement of corruption charges with US, UK and French authorities.  One of the allegations cited in a judgment and released by a London court concerned the purchase of aircraft by Sri Lankan Airlines.

https://www.japantimes.co.jp/news/2020/02/03/business/sri-lanka-probe-aircraft-deal-airbus-corruption-settlement/

AND AVIANCA OF COLOMBIA

https://colombiareports.com/colombias-avianca-embroiled-in-airbus-bribery-scandal

 

BULGARIA: FUGITIVE GAMBLING MOGUL BOZHKOV ARRESTED IN UAE

On 2 February, BTA, the Bulgarian news agency, reported that Bulgaria’s Prosecutor General had said that the UAE had officially confirmed that wanted gambling mogul Vassil Bozhkov and one more person had been detained in the territory.  The other detained person is said to be Georgi Popov, holder of a nearly 85% stake in the Levski Professional Football Club, whose principal sponsor is Bozhkov.  Bozhkov has been charged with leading an organised crime group, coercion, extortion, attempted bribery of a public official, money laundering, etc., and was put on an Interpol wanted list.  Amongst other things, he is accused of evading a large amount of gambling fees.

http://www.bta.bg/en/c/DF/id/2144997

 

GERMAN BANKS WARNED AGAIN THAT THEY ARE NOT ALLOWED TO PROCESS PAYMENTS FOR INTERNATIONAL ONLINE GAMBLING OPERATORS

On 31 January, Calvin Ayre reported that the Lower Saxony Ministry of the Interior had sent letters to 5 German banking industry associations reminding them of their obligations not to facilitate payments between German gamblers and internationally licensed online gambling sites.  This is despite the draft agreement on a new Federal Gambling Treaty that would eliminate the prohibition on online casino and poker products – about which operators continue to voice concern.

https://calvinayre.com/2020/01/31/business/germany-warns-banks-online-gambling-payments/

 

JAPAN ISSUES WARRANT FOR 3 MEN SUSPECTED OF SMUGGLING FORMER NISSAN CHAIRMAN, CARLOS GHOSN, FROM JAPAN

On 2 February, Jurist reported that among the 3 suspects is Michael Taylor, a former US Green Beret.  These warrants follow after Japan issued a warrant for Ghosn and his wife in early January. Japan has been working to extradite Ghosn from Lebanon, and Interpol has issued a warrant for Ghosn’s arrest.  However, Jurist reports that Lebanon has not historically handed over its own nationals and that Japan does not have an extradition treaty with Japan.

https://www.jurist.org/news/2020/02/japan-issues-arrest-warrants-for-men-who-smuggled-former-nissan-chairman-out-of-country/

 

WHY IS DIGITISED CASH BETTER THAN STABLECOINS?

On 31 January, Fintech Futures carried an article which argues that, rather than “stablecoins” cryptocurrency, a better approach is to match the solution to the problem from the outset.  If the problem being solved is to provide certainty to immutable transactions of regulated currency, it is more elegant – and practical – to design distributed ledger technology (DLT) solutions to fully comply with existing regulations.  Digitised cash is, the article argues, such an approach.  The article contains a table detailing briefly the characteristics of the two, and then says that there are 3 factors that may shape the future.

fintech

https://www.fintechfutures.com/2020/01/why-is-digitised-cash-better-than-stablecoins/

 

WHY NEW TARIFF CODES ARE NECESSARY TO IMPROVE TRADE AND COMBAT CLIMATE CHANGE

On 2 February, a post on the LSE Business Review blog says that agricultural products are still traded with a generic tariff code that doesn’t differentiate biodegradable from non-biodegradable ones.  It argues for the creation of new tariff codes for environmental products under the Harmonised System (HS) will help to renovate the trade system as some products will be banned from many countries or charged high tariffs (e.g. plastics), an incentive for countries to opt for environmentally-friendly products (e.g. biodegradables).  It says that a difficulty in explaining the concept of “environmental good” in the multilateral context – countries have different perspectives and interests in determining whether a product is ecological by its production, its use or both.

https://blogs.lse.ac.uk/businessreview/2018/11/27/why-new-tariff-codes-are-necessary-to-improve-trade-and-combat-climate-change/

 

FORMER PRESIDENT OF BRAZILIAN SUBSIDIARY OF SINGAPORE COMPANY BEEN CHARGED IN BRAZIL WITH MONEY LAUNDERING AND CORRUPTION

In its 3 February edition, the Business Times in Singapore reported that the former president of Sembcorp Marine’s (SembMarine) wholly-owned Brazilian subsidiary Estaleiro Jurong Aracruz (EJA), who left the company in 2015, has been charged with money laundering and corruption in Brazil.  The charges relate to certain drilling rig construction contracts entered into by the Brazilian subsidiaries with Sete Brasil in 2012.  Another man was also charged, and no charges have been laid against the company itself.  The article notes that the Singapore company had filed an STR with authorities in Singapore in 2019, and the company settled a dispute with Brazilian authorities over drillship contracts worth billions of dollars that were frozen after the Brazilian company was forced to file for bankruptcy amid a sweeping corruption probe.

https://www.businesstimes.com.sg/companies-markets/sembmarine-units-ex-president-charged-with-money-laundering-corruption

DOES THIS HELP CLARIFY THE CONSTITUTIONAL AND LEGAL POSITION OF UK, IRELAND AND CROWN DEPENDENCIES?

EPy57aEW4AER3fl

https://twitter.com/TweetbeatIOM/status/1224057635152048128/photo/1