Mishcon's Culture vs Corruption Diary - November 2011
Welcome to the November 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, conspiracy to corrupt, and acquiring and transferring criminal property, in connection with alleged payments of bribes to officials of state-controlled Aluminium Bahrain during 2001-05. Mr Dahdaleh denies the allegations.
Ed Crooks
Financial Times, 25 October 2011
WESTERN EUROPE
Financial Services
Spanish prosecutors have opened a corruption probe into María Dolores Amorós and other unnamed directors of a bank, Caja Mediterráneo, following controversy over directors' remuneration. Ms Amorós has denied any wrongdoing.
Victor Mallet
Financial Times, 12 October 2011
NORTH AMERICA
Companies
Monsanto has said that it will restate its financial results for the past three years as a result of a federal investigation into incentives paid to distributors of its herbicide.
Hal Weitzman
Financial Times, 5 October 2011
SOUTH AMERICA
Sport
Brazilian sports minister Orlando Silva has been accused of receiving payments in exchange for government grants to sporting organisations whilst Ricardo Teixeira, Brazilian football head, is facing an investigation into allegations of corruption related to his dealings with the sport. Both have denied the allegations.
Joe Leahy
Financial Times, 21 October 2011
ASIA
Financial services
India’s former chief minister of Karnataka, Bookanakere Siddalingappa Yeddyurappain, faces allegations that he sold government land in Bangalore in return for payments to companies owned by his family. Mr Yeddyurappa denies the allegations.
Amy Kazmin
Financial Times, 17 October 2011
AFRICA
Government
Two South African cabinet ministers, Sicelo Shiceka and Gwen Mahlangu-Nkabinde have been suspended, along with police chief General Bheki Cele, after allegations of scandals relating to improper conduct and the misuse of state funds. All three officials have denied wrongdoing.
Andrew England
Financial Times, 25 October 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.AFRICA