The BOTA Foundation surpassed most of the expectations that its founders had for it. BOTA was able to efficiently and effectively return more than $115 million (the original $84 million associated with corruption plus accrued interest frozen Pictet and Cie Swiss bank account) to poor children, youth and their families.
Entries in World Bank (81)
The background of BOTA Foundation was explored in previous posts. Starting with this post I would like to explain what BOTA actually did in its five and a half years of operation.
BOTA was the first foundation ever established as a result of an FCPA case, and the question explored in this post is how it was set up.
News leaked a couple of years ago that China was promoting establishment of the Asian Infrastructure Investment Bank. The AIIB will compete for project funding against the IMF, World Bank, and Asia Development Bank, all seen as being under the thumb of the U.S., Europe, and Japan.
Canadian engineering and construction giant SNC-Lavalin said Thursday the company and two subsidiaries have been charged with criminal corruption and fraud.
The World Bank Group Sanctions Board is the final decision maker in contested cases of sanctionable practices in World Bank Group-financed development operations -- primarily fraud, corruption, and collusion. Current members of the Sanctions Board include top international arbitrators, high court justices, and other leading jurists and development experts from around the world.
Last week, we participated in a panel discussion at the World Bank, titled “Voice of Corruption Hunters in Social Media.” The panel was part of the World Bank’s International Corruption Hunters Alliance (ICHA) Conference and served as an opportunity for several of us in the communication and academic worlds to discuss the importance of social media for sharing anti-corruption ideas and strategies.
Canada's biggest engineering and construction firm is recovering more than $13 million, claiming it was a victim of alleged bribes paid to the son of former Libyan dictator Moammar Gadhafi.