In my recent previous posts on the BOTA Foundation, I recapped its history and provided what I think were some of the critical factors which led it to be recognized as the most successful example the United States Department of Justice has had to date in returning recovered corruption assets. But what are the lessons from BOTA that might be applicable to future foundations established for the same purpose?
Entries in Switzerland (100)
The agreement to start the Foundation emerged in 2007 after more than two years of discussion between the Governments of the United States, Switzerland and Kazakhstan (known as “the Parties”) about the disposition of $84 million, plus interest, that had been frozen in a Swiss account since 1999.
Brazil construction giant Odebrecht S.A. and its petrochemical unit, Braskem S.A., pleaded guilty Wednesday to paying bribes around the world. The companies agreed to pay $3.5 billion for a global settlement with authorities in the United States, Brazil, and Switzerland.
The former president of the Costa Rican soccer federation and a member-elect of the FIFA executive committee pleaded guilty Friday in federal court in Brooklyn, New York to taking hundreds of thousands of dollars in bribes.
Singapore's bank regulator Tuesday shut down a second bank for "serious failures in anti-money laundering controls and improper conduct" linked to Malaysia's 1MDB fund.
Sepp Blatter, two deputies took $81 million in pay and bonuses, FIFA launches bribery and corruption case
FIFA's ethics committee said Friday it has opened formal proceedings against former FIFA president Sepp Blatter and two of his ex-deputies for taking huge salaries and bonuses.
From 2009 to at least 2013, private individuals were allegedly able to siphon off more than $3.5 billion from the wealth fund of Malaysia and go on a high-end luxury shopping spree in several countries including the United States, the United Kingdom and Switzerland for property, museum-quality art and a private jet.
Singapore shut down the local operations of Swiss-based BSI Bank Tuesday and named six bankers suspected of possible criminal conduct in connection with the handling of a Malaysian government fund.
Documents leaked Sunday from a Panama law firm showed alleged use of anonymous shell companies by world leaders, politicians and others to shield billions of dollars from public view.
Two former Julius Baer bankers pleaded guilty Thursday and the Swiss bank paid $547 million to settle a criminal case for helping clients cheat on their U.S. taxes.
The Singapore Commercial Affairs Department and the Monetary Authority of Singapore said Monday they have seized a "large number" of bank accounts linked to a money laundering investigation involving the Malaysia state investment fund 1MDB.