OTHER THINGS YOU MAY HAVE MISSED – JUNE 5

Panama Covid-19 update – 5 new fatalities reported today, alongside 1,942 new cases. 27,709 active cases include 33 in ICU and 272 in other wards.

5 JUNE 2022

PANAMA: COURT TO CONSIDER SHORTFALL IN ODEBRECHT COMPENSATION PAYMENTS

On 4 June, Newsroom Panama reported that a hearing had been set for 15 June to address the shortfall in the $220  million in payments  imposed on the Odebrecht company that resulted from an agreement with the Public Ministry in 2017.  It is said that 2 subsidiaries in Panama of the Brazilian Odebrecht (now renamed Novonor) have only paid $52 million in voluntary payments and withholding orders.

https://www.newsroompanama.com/business/date-set-for-odebrecht-multi-million-delinquency-hearing

ECOWAS LEADERS POSTPONE DECISION ON SANCTIONS IN MALI, BURKINA FASO AND GUINEA

On 4 June, France 24 reported that West African leaders have failed to agree what action to take against military juntas in Mali, Burkina Faso and Guinea, postponing a decision until July.  It had been expected to decide whether to keep, lighten or lift retaliatory measures on Mali, imposed in January after its military regime announced an intention to rule for another 5 years. The other 2 countries risk further punitive measures from the bloc after ruling juntas in their respective capitals vowed to hold onto power for another 3 years.

https://www.france24.com/en/africa/20220604-ecowas-leaders-discuss-sanctions-againt-juntas-in-mali-burkina-faso-and-guinea 

http://www.marineinsight.com/infographics/attachment/ship-goes-in/

INDIA: MERELY SMUGGLING GOLD NOT A TERRORIST ACT 

On 4 June, Outlook reported that the Delhi High Court has stated that the smuggling of gold itself, without a link to a threat to the economy of the country, cannot be considered a terrorist act under the Unlawful Activities (Prevention) Act.  The court granted bail to 9 persons arrested for allegedly smuggling over 500 gold bars weighing 83.621 kg from Assam to Delhi. 

https://www.outlookindia.com/national/merely-smuggling-gold-not-terrorist-act-under-uapa-delhi-hc-news-200390

https://www.tribuneindia.com/news/nation/gold-smuggling-alone-not-a-terrorist-act-hc-401041

EGYPT RETRIEVES SMUGGLED ARTIFACTS FROM SWITZERLAND

On 4 June, Egypt Independent reported that the Egyptian Foreign Ministry has announced that it is making arrangements to return several ancient Egyptian artifacts that had previously been received by Egypt’s Ambassador. 

https://www.egyptindependent.com/egypt-retrieves-smuggled-artifacts-from-switzerland/

THE TRIAL OF SEPP BLATTER AND MICHEL PLATINI

On 5 June, the Guardian reported that they were once the 2 most powerful men in global football, until being banned by FIFA ethics committee in 2015 over a secret payment of 2 million Swiss francs.  Now, after a 7-year investigation, that same payment will lead to Sepp Blatter, and Michel Platini are finally stepping into the Swiss federal criminal court, facing fraud, embezzlement and other corruption charges.

https://www.theguardian.com/football/2022/jun/05/trial-of-sepp-blatter-and-michel-platini-will-make-for-electric-theatre

RUSSIA WARNS SRI LANKA DETENTION OF AEROFLOT PLANE COULD JEOPARDISE TIES

On 5 June, Eurasia Review reported that the detention of an Aeroflot flight with 191 passengers on board at the Colombo International airport following an order from the Colombo Commercial High Court, is threatening to jeopardise Russo-Sri Lankan ties.  The flight on 2 June was delayed and then cancelled due to the absence of a permit from Sri Lanka’s aviation authorities, and the Airbus A330 is banned from leaving the country until 16 June.  It is reported that the owner of the aircraft, Celestial Aviation Trading Ltd of Ireland, had filed action against Aeroflot seeking interim relief from the Commercial High Court of Colombo pending arbitration proceedings instituted in London, and had said that the lease was terminated in March due to Aeroflot’s failure to act in compliance with the terms of the lease agreement.

https://www.eurasiareview.com/05062022-russia-warns-sri-lanka-detention-of-aeroflot-plane-could-jeopardize-ties/

BULGARIAN CHIEF PROSECUTOR ACCUSED OF WILLFULLY FAILING TO ACT AGAINST ONECOIN FRAUDSTERS

On 5 June, Bitcoin.com reported that the Bulgarian prosecutor has been accused of deliberately failing to take action against Onecoin, with the result that more victims are losing millions of dollars to the fraudsters.  It is claimed that the prosecutor has failed to act against the key Onecoin mastermind Ruja Ignatova’s mother, despite the existence of arrest warrants that have been issued by Interpol, Europol, and German law enforcement.

https://news.bitcoin.com/bulgurian-chief-prosecutor-accused-of-willfully-failing-to-act-against-onecoin-fraudsters/

DEEP FAKES AND US NATIONAL SECURITY

On 3 June, a briefing from the Congressional Research Service says that “deep fakes” could present a variety of national security challenges in the years to come.  As these technologies continue to mature, they could hold significant implications for congressional oversight, US defence authorisations and appropriations, and the regulation of social media platforms. 

https://crsreports.congress.gov/product/pdf/IF/IF11333

LUXEMBOURG: AML/CFT GUIDANCE FOR ALTERNATIVE INVESTMENT FUNDS

The AED (Administration de l’Enregistrement, des Domaines et de la TVA) has published a guide on professional AML/CFT requirements for Reserved Alternative Investment Fund (FIAR) products.

https://pfi.public.lu/content/dam/pfi/pdf/blanchiment/prevention-et-sensibilation/guides/pour-en-savoir-plus/guide-version-2022-fonds-dinvestissement-alternatif-reserve.pdf

https://pfi.public.lu/fr/blanchiment/prevention-sensibilisation/guides-sensibilisation-prevention.html

CROATIA IS READY TO ADOPT THE EURO ON 1 JANUARY 

On 1 June, a news release from the EU advised that the European Commission has concluded that Croatia is ready to adopt the euro on 1 January, bringing the number of euro area Member States to 20. 

https://ec.europa.eu/commission/presscorner/detail/en/ip_22_3312

Any modest contributions for my time and ongoing expenses are welcomed!  I have a page where you can do so, and where one-off contributions start as low as $3, at

https://www.buymeacoffee.com/KoIvM842y

NOTE THAT THE ABOVE LINK IS NOW CORRECTED AND WORKS!

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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