Mishcon's Culture vs Corruption Diary - December 2011
Welcome to the December edition of Mishcon's Culture vs Corruption Diary. Its aim 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 judgment whatsoever as to the morality, legality or appropriateness of the conduct which forms the subject matter of this bulletin. We simply aim to bring these matters to the attention of those involved in the prevention, detection and investigation of fraud.
UNITED KINGDOM
Companies
Victor Dahdaleh has been charged with corruption as part of a two-year investigation into whether payments were made in Bahrain to win aluminium contracts worth £26m.
Financial Times, 1 November 2011
Sport
Pakistan cricketers Salman Butt and Mohammad Amir have failed in the Court of Appeal to reduce their sentences for spot-fixing corruption after being told that they were guilty of "criminal conduct of a very serious kind".
Matt Scott
The Guardian, 23 November 2011
INTERNATIONAL
Reports and Surveys
According to a report by Transparency International, emerging market companies are seen as being more likely to be involved in bribery than developed world groups with views apparently stemming from perceptions of corruption in the public sector of their home countries.
David Keohane
Financial Times, 2 November 2011
WESTERN EUROPE
Defence
A widening corruption probe involves Italy's state-controlled defence conglomerate Finmeccanica after allegations that executives paid bribes to politicians and political parties.
Guy Dinmore
Financial Times, 22 November 2011
ASIA
Government
Former India telecoms minister Andimuthu Raja and powerful Tamil Nadu politician Kanimozhi Karunanidhi have appeared in court alongside a number of industry executives to face charges of involvement in a scam which an official audit said cost the country $39bn . All of the fourteen accused deny any wrongdoing.
James Lamont
Financial Times, 11 November 2011
Mishcon de Reya
Mishcon's Culture vs Corruption Diary is published by the Dispute Resolution Department of Mishcon de Reya. Widely recognised as the leader in the field of fraud investigations, the Department has extensive experience in conducting and/or project managing highly sensitive international investigations in respect of bribery and corruption allegations. The Department founded and runs both the Fraud Network, made up of international legal fraud specialists, and the Financial Risk Group, for risk and compliance officers.