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CorpWatch Exclusives : Displaying 39-58 of 99


Nomura CEO Resigns Over Insider Trading Scandal
by Pratap ChatterjeeCorpWatch Blog
July 26th, 2012
Kenichi Watanabe and Takumi Shibata, the CEO and chief operating officer of Nomura, have resigned over several recent insider trading scandals at the Japanese multinational conglomerate. The revelations are the latest in a series of events that have shone a welcome spotlight on seamier side of the financial industry.

HSBC Bank Apologizes for Laundering Mexican Drug Cartel Money
by Pratap ChatterjeeCorpWatch Blog
July 20th, 2012
HSBC, one of the world’s largest banks, has been accused of laundering money for Mexican drug cartels. At a hearing conducted by the U.S. Senate earlier this week, David Bagley, HSBC's head of compliance, apologized and resigned.

Private Hedge Fund "Alpha" Surveys Allow Wealthy Clients to Profit From "Insider" Views
by Pratap ChatterjeeCorpWatch Blog
July 17th, 2012
BlackRock and Two Sigma Investments – both major hedge funds - have been conducting regular private surveys of brokers for wealthy clients. The practice has raised red flags because of Morgan Stanley's role in the Facebook stock market flotation, as well as insider trading scandals at Goldman Sachs.

Barclays Bank Fine Reveals Global Rate Setting Scandal
by Pratap ChatterjeeCorpWatch Blog
July 6th, 2012
A record $450 million fine for fixing rates at which banks lend to each other has been levied on Barclays bank in the UK, shining a light into how banks set – and manipulate - rates at which $360 trillion in international deposits are loaned out every day.

Forgiving Siemens: Unraveling a Tangled Tale of German Corruption in Greece
by Lena Mavraka and Vasilis PapatheodorouSpecial to CorpWatch
June 11th, 2012
To understand the pervasive corruption in Greek politics, it is necessary to examine the company that has probably paid the biggest bribes to both major parties: Siemens from Munich, Germany, a company with contracts in practically every ministry from culture to telecommunications.

Whale Wars: Hedge Funds Rob Banks, and the Poor Suffer Most
by Pratap ChatterjeeCorpWatch Blog
May 30th, 2012
One rich bank (JP Morgan) lost money to a rich hedge fund (Saba). Surely that is a zero sum game: They swap mansions and yachts, their partners swap diamonds and butlers, and it makes no difference to the rest of us. Or are they robbing us?

Bailing out Germany: The Story Behind the European Financial Crisis
by Pratap ChatterjeeCorpWatch Blog
May 28th, 2012
A large chunk of the Eurozone bailouts are for speculative schemes that were handed out by banks in just four countries Belgium, France, Germany and the UK. So why are Greece, Ireland, Italy, Portugal and Spain being blamed? And who is really getting bailed out?

Budweiser's Buddies in Brussels
by Pratap ChatterjeeCorpWatch Blog
May 16th, 2012
Jean-Luc Dehaene, a Member of the European Parliament from Belgium, recently accepted shares worth $4.2 million in the company that makes Budweiser and Stella Artois. What’s remarkable is that he forgot to mention this as a potential conflict of interest.

Hedge Funds Handed New Loophole to Make Money
by Pratap ChatterjeeCorpWatch Blog
May 7th, 2012
Hedge funds were just handed an opportunity to make even more money under a new law signed by President Barack Obama last month. Consumer advocates say that unsophisticated investors may be at risk as a result.

Bribing Mexico: Walmart Accused of Corruption
by Pratap ChatterjeeCorpWatch Blog
April 21st, 2012
Eduardo Castro-Wright, the former CEO of Walmart Stores USA, has been accused of orchestrating a $24 million bribery scheme to expand the company's presence in Mexico between 2002 and 2005. The alleged scheme involved a series of payoffs to Mexican city governments, according to an investigation by the New York Times

Lobbyists Pose Conflicts of Interest At European Food Agency
by Pratap ChatterjeeCorpWatch Blog
April 19th, 2012
Should lobbyists for biotech and food companies make the rules on what kind of food you have in your kitchen? Meet Mella Frewen, Suzy Renckens and Harry Kuiper: Three examples of how the industries take advantage of the European Food Safety Agency(EFSA) failure to properly regulate conflicts of interest.

Vampire Squid Update: SEC Fines Goldman For Huddles
by Pratap ChatterjeeCorpWatch Blog
April 13th, 2012
Goldman Sachs will pay out $22 million to the Securities and Exchange Commission to settle charges of insider trading. Company researchers were accused of holding weekly “huddles” with investment bankers and traders to provide them with stock tips for preferred clients.

Mining Maverick Resigns from Rainmaking at JP Morgan
by Pratap ChatterjeeCorpWatch Blog
April 5th, 2012
Ian Hannam, a senior JP Morgan banker and ex-soldier, who helped finance a number of flamboyant and controversial mineral extraction projects from India to Tanzania over the last couple of decade, has resigned, after being fined $720,000 for insider trading by the UK Financial Services Authority.

Washington Losing Poker Game in Kabul
by Pratap ChatterjeeCorpWatch Blog
March 8th, 2012
Mahmoud Karzai, brother to the Afghan president and Abdul Hasin Fahim, brother to the vice-president, are the real symbols of corruption in Afghanistan. Kabul Bank has helped finance their shady deals and contracts with the U.S. military

Scotland Yard Needs To Pursue Gordon Gekko
by Pratap ChatterjeeCorpWatch Blog
March 2nd, 2012
The FBI has just released an ad featuring the fictional character Gordon Gekko from the “Wall Street” films to target insider trading. Increasingly, however, it seems that Scotland Yard needs a similar campaign for the City of London, which has become the center for the mantra “Greed is Good.”

U.S. Congressional Wartime Commission Targets Armed Contractors
by Pratap ChatterjeeSpecial to CorpWatch
June 23rd, 2010
This week, almost a decade after the U.S. "War on Terror" began, the Commission on Wartime Contracting held two days of hearings into the role of private contractors in conducting and supporting war. The Congressional witness table included Aegis, DynCorp and Triple Canopy. Curiously, Blackwater was not called; and the CEO of Torres Advanced Enterprise Solutions failed to appear.

Afghanistan, Inc.: A CorpWatch Investigative Report (2006)
by Fariba NawaSpecial to CorpWatch
April 30th, 2010
The recent boom in humanitarian aid has an underbelly largely invisible to charity sector outsiders. “Easy money: the great aid scam," packs a biting critique (Linda Polman, The Sunday Times Online, April 25). In 2006, CorpWatch’s "Afghanistan, Inc.", cited by Polman, drilled down on reconstruction dollars, in what’s become known as “Afghaniscam.” We bring our report to you again.

Afghanistan Spy Contract Goes Sour for Pentagon
by Pratap ChatterjeeSpecial to CorpWatch
March 16th, 2010
Mike Furlong, a top Pentagon official, is alleged to have hired a company called International Media Ventures to supply information for drone strikes and assassinations in Afghanistan and Pakistan, according to a complaint filed by the CIA and revealed by the New York Times on March 15.

Agility Attempts to Vault Fraud Charges
by Pratap ChatterjeeSpecial to CorpWatch
February 1st, 2010
Agility, a Kuwait-based multi-billion dollar logistics company spawned by the U.S. invasion of Iraq, is facing criminal charges for over-billing the U.S. taxpayer on more than $8.5 billion worth of food supply contracts in the Iraq war zone. If the lawsuit is successful, the company could owe the U.S. government as much as $1 billion.

Is Halliburton Forgiven and Forgotten? Or How to Stay Out of Sight While Profiting From the War in Iraq
by Pratap ChatterjeeTomDispatch.com
June 3rd, 2009
At Halliburton's recent annual shareholders meeting in Houston, all was remarkably staid as the company celebrated its $4 billion in 2008 operating profits, a striking 22% return at a time when many companies are announcing record losses. Just three months ago, however, Halliburton didn't hesitate to pay $382 million in fines to the U.S. Department of Justice as part of the settlement of a controversial KBR gas project in Nigeria in which the company admitted to paying a $180 million bribe to government officials.