Bribery, Fraud & Tax Evasion

Billionaire businessmen and lobbyists are lining up to help Donald Trump after his victory in the U.S. presidential election. Trump appears to be welcoming them with open arms, despite his claim to bring change to Washington DC and get rid of special interests. Read More

UBS, the Swiss bank, is being investigated by the Hong Kong Securities and Futures Commission for failing to carry out adequate due diligence before working on share offerings for several Chinese companies. The bank says that it is at risk of being suspended from doing business in the city. Read More

A number of safari companies in Africa used Mossack Fonseca, a Panamanian law firm, to evade taxes on income from foreign clients, according to data from the 'Panama Papers' a leaked cache of 11.5 million documents revealed by the International Consortium of Investigative Journalists (ICIJ). Read More

Greek tax investigators have raided the house of Christos Sclavounis, the former head of investment banking for UBS. The crackdown is part of an agreement that the country reached with international lenders in order to reduce tax evasion by Greek elites suspected of hiding their income in Switzerland. Read More

Cairn Energy, a Scottish oil exploration company, has demanded that India pay $5.6 billion in compensation for losses that the company claims it has sustained as a result of a tax bill. The company has taken its claim to an arbitration panel under the United Kingdom-India Investment Treaty. Read More

Gilead Sciences Inc., a California based pharmaceutical company, has avoided paying $10 billion in taxes by moving its patents to Ireland. This is despite the fact that one of its most profitable drugs was developed with U.S. taxpayer money, according to a new report from Americans for Tax Fairness. Read More

The UK Serious Fraud Office has notched up another win in the global interest rate setting scandal by sending three Barclays traders to jail. Of the 20 bankers that have been charged to date, five have been found guilty, six have been let go while nine are to face trial. Read More

Bank of America leads the list of companies that have paid over $1 billion in penalties and fines to the U.S. government in the last six years. Violation Tracker, a new corporate misconduct database maintained by Good Jobs First, estimates that the North Carolina bank has paid $56 billion. Read More

The U.S. government is investigating Citadel, a Chicago-based hedge firm and market maker that manages some $25 billion in client money, for allegedly giving smaller investors a bad deal. The Department of Justice wants to know if the firm is taking advantage of the complexity of high-speed trading. Read More

Did a few individual traders in London conspire to rig global interest rates in order to enrich themselves or were they just pawns in an ongoing conspiracy by major banks designed to routinely skim billions from the international financial system? Read More