The Financial Crimes Enforcement Network (FinCEN) is expanding required reporting of beneficial owners for cash real estate purchases beyond Manhattan and Miami to six new areas in California and Texas.
Entries in Teodorin Obiang (9)
A recent paper I published in the Journal of Money Laundering Control looks at a prominent series of cases brought by the United States and France against assets owned by Teodoro Nguema Obiang, Second Vice President of the Republic of Equatorial Guinea and son of the country's president.
It is repellent to read how a has been systematically plundered. For the culprit to be a member of the ruling family only adds weight to the wrong.
The BOTA Foundation was able to take the $115 million from the corruption case associated with James GIffen and use it effectively and efficiently to assist more than 200,000 poor children, youth and their families in Kazakhstan.
With most enforcement pressure bearing down on corporate supply side bribe payers, it is no surprise that the business community feels beleaguered. The fundamental unfairness is of course the impunity with which bribe takers operate, a frequent topic on the FCPA Blog.
The Department of Justice said Friday it reached a settlement of its civil forfeiture cases against assets in the United States owned by the Second Vice President of the Republic of Equatorial Guinea Teodoro (Teddy) Nguema Obiang Mangue that he purchased with the proceeds of corruption.
The Russian media boss who served as the Kremlin press secretary and helped set up the state-funded RT network has bought at least three houses in the Los Angeles area worth over $28 million, a U.S. senator said this week.
The DOJ said last week it will settle a corruption-related civil forfeiture action involving more than $70 million in U.S. assets amassed by the son of Equatorial Guinea's dictator.
The world keeps shrinking for Africa's kleptocrats.