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Mishcon's Culture vs Corruption Diary - May 2014

UK

Bribery

London-listed surveying firm, Sweett Group, has ordered a fresh investigation into bribery allegations after uncovering evidence suggesting deception during the period 2009-2011 by one or more former employees. Following an initial independent investigation in January, Sweet Group is now working with the Serious Fraud Office and the Department of Justice.
Telegraph, 2 April 2014

EUROPE

Embezzlement

Spanish anti-corruption police in Andalusia are investigating massive corruption centred on the misuse of funds from EU member states, received between 2007 and 2013, after discovering local officials siphoned off £1.5 billion worth of funds destined for retraining schemes for the unemployed which never took place. The secret police investigation has been dubbed Operation Edu.
Fiona Govan
Telegraph, 18 April 2014

ASIA

Bribery

Former Israeli Prime Minister, Ehud Olmert, has been found guilty of two counts of bribery after accepting 560,000 shekels (£96,480) in bribes whilst he was mayor of Jerusalem. Olmert's second corruption conviction relates to the building of the large Holyland residential complex in South Jerusalem in the 1990s, which required changes to zoning laws that prosecutors alleged were secured by paying bribes to city officials.
Catherine Philp
The Times, 1 April 2014

SOUTH AMERICA

Insider trading

CVM, Brazil's market regulators, have accused Eike Batista of insider trading, claiming, in a 41-page concluding report of their investigation, that the tycoon hid problems at OGX, his now-bankrupt oil company, from investors for 10 months and used Twitter to manipulate the company's share price. Batista has denied the claims.
Samantha Pearson
Financial Times, 13 April 2014