ING is under criminal investigation by Dutch prosecutors for money laundering and corruption in Uzbekistan, and authorities in the United States have also requested information from the bank.
Entries in Uzbekistan (23)
Sweden's Telia Company said Thursday it received a proposal from U.S. and Dutch authorities to pay $1.4 billion to settle allegations of overseas bribery.
There's news this morning about a rare Russian investigation into at least three high-profile executives accused of bribery.
Amsterdam-based VimpelCom Limited, the world’s sixth-largest telecommunications company, and its wholly owned Uzbek subsidiary, Unitel LLC, entered into resolutions with the DOJ, SEC, and Dutch authorities Thursday for paying more than $114 million in bribes to a government official in Uzbekistan between 2006 and 2012.
Telecoms company VimpelCom said in an earnings release Wednesday that it has discussed terms of prospective settlements with the SEC, DOJ, and Dutch prosecutors and would would acknowledge "certain violations" of the Foreign Corrupt Practices Act and Dutch laws and pay fines and disgorgements to settle the offenses.
Telecoms company VimpelCom said in a statement Tuesday it will take a provision of $900 million for an investigation by U.S. and Dutch authorities of its business in Uzbekistan and dealings with an offshore company linked to the daughter of the Uzbek president.
The U.S. Justice Department took another big step in its investigation of bribes allegedly paid by Russian and Swedish companies to the eldest daughter of Uzbek President Islam Karimov in exchange for access to the country's telecoms market.
A federal judge in New York last week said the DOJ can seize $300 million allegedly linked to the telecoms scandal involving "a relative of Uzbekistan's president."
Journalists from the Organized Crime and Corruption Reporting Project uncovered documents last year appearing to show $300 million in bribes to Gulnara Karimova, the eldest daughter of Uzbek President Islam Karimov, in exchange for access to the country's telecoms market.
Japan suspended aid for a $41 million railway project in Hanoi until Vietnam returns $782,000 in bribe money a Japanese contractor gave officials at Vietnam's state railway company.