Briefings
Mishcon's Culture vs Corruption Diary
Banking & Finance
Fraud: Claimant
Fraud: Defendant
Insolvency and Recoveries
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| April 2008 |
Welcome to the April edition of Mishcon's Culture vs Corruption Diary, the object of this diary is to provide businesses and their advisors with a snapshot of what has been happening in the world of corruption in the last month.
We make no judgement whatsoever as to the morality, legality or appropriateness of the conduct which forms the subject matter of this diary. We simply aim to bring these matters to the attention of those whose responsibility it is to set ethical standards and produce business practice guidelines for the companies they work for, to allow them to make an informed decision on the best practice for their organisation.
United Kingdom
Government
The British government is to be investigated by the Organisation for Economic Co-operation and Development over its failure to introduce modern anti-corruption legislation.
The Observer, 30 March 2008
North America
Government
The US Supreme Court has upheld a ruling preventing FBI agents from searching the office of congressman William Jefferson as part of a corruption investigation.
Financial Times, 1 April 2008
Western Europe
Telecommunications
Prosecutors in Rome have confirmed that Naguib Sawiris, chairman of Orascom Telecom and Fulvio Conti, chief executive of Enel are among 11 people under investigation for alleged corruption. Both men deny any wrongdoing.
Financial Times, 1 March 2008
Asia
Government
An Indonesian court has thrown out a $1.54bn civil suit against former president Mr Suharto and his family. The court has ordered the Supersemar Foundation, a charitable organisation, to repay £55m to the state after finding money had been diverted to companies owned by the Suharto family.
Financial Times, 28 March 2008
A court in Pakistan has dismissed the last of seven corruption charges against Asif Ali Zardari, the widower of the late Benazir Bhutto.
Financial Times, 15 March 2008
North Africa
Telecommunications
The Serious Fraud Office has decided not to investigate Sararicom, a Kenyan mobile phone company, which is partially owned by Vodafone Kenya. The SFO had been asked to consider allegations of corruption in connection with Mobitelea, a Guernsey-registered company, which owns 12.5% of Vodafone Kenya.
The Independent, 29 March 2008
Mishcon de Reya
Mishcon's Culture vs Corruption Diary is published by the Fraud & Insolvency Group of Mishcon de Reya Solicitors. Widely recognised as the leader in the field of fraud investigations, the Group has extensive experience in conducting and/or project managing highly sensitive international investigations in respect of bribery and corruption allegations. The Group founded and runs both the Asset Protection & Recovery Network, made up of international legal fraud specialists, and the Financial Fraud Group, for risk and compliance officers.