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ON THE MONEY TRAIL: Corruption in the news - Dec.3

Source: Thomson Reuters Foundation - Mon, 3 Dec 2012 18:09 GMT
Author: TrustLaw
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SYDNEY - BHP Billiton remains under investigation by US regulators over what is thought to be potential corruption in Cambodia, three years after the company was first asked for information by the US Securities and Exchange Commission, The Australian reports. BHP iron ore and coal boss Marcus Randolph yesterday confirmed an investigation by the US Securities and Exchange Commission was still open.

LJUBLJANA, Slovenia - Slovenia's prime minister is on trial, accused of involvement in a bribery scandal. The main opposition leader who is also mayor of Ljubljana is under investigation for alleged corruption. So is the mayor of the country's second-largest city. Slovenes say they have had enough, the Associated Press reports. Several thousand people were out in the streets again Monday in the small, crisis-hit Alpine state, rejecting the "corrupt elite" after thousands took to the streets last week.

BANGKOK – Thailand’s opposition Democrat Party submitted evidence of alleged massive corruption in the government's rice pledging scheme to the country’s National Anti-Corruption Commission (NACC) on Monday, the Bangkok Post reports.

BUCHAREST, Romania - Romanian police have arrested the head of low-cost Romanian airline Blue Air on suspicion that he embezzled €6 million ($7.8 million) of European Union funds that were earmarked for building highways, the Associate Press reports. Nelu Iordache, popularly known as "the King of Asphalt" was arrested Sunday after a Romanian court approved a 29-day arrest pending an investigation. His lawyers said on Monday that they will appeal.

MACAU - Chinese prosecutors building a corruption case against Bo Xilai are believed to be investigating whether the fallen politician laundered an illicit fortune through Macau, The Times reports. Investigators from mainland China are understood to have secretly rounded up a group of six men with alleged links to a money-laundering operation in the world's most lucrative gambling enclave. A source with close links to the Macau police said the men were being interrogated about a corruption case involving "a former senior Chinese official".

ISLE OF MAN - New legislation aimed at strengthening the Isle of Man’s ability to combat bribery will be introduced into the lower house of parliament for a first reading on Tuesday, the island’s news website, isleofman.com reports. The Bribery Bill 2012 will bring the Isle of Man into line with developing international standards and ensure there are no obstacles in the way of the island’s businesses trading with other jurisdictions, in particular the UK.

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