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ON THE MONEY TRAIL: Corruption in the news - Nov. 22

Source: Thomson Reuters Foundation - Thu, 22 Nov 2012 12:38 GMT
Author: TrustLaw
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On The Money Trail 22 November

LONDON - Imprisoned Russian oligarch Mikhail Khodorkovsky has suggested BP chief executive Bob Dudley take a “flexible” view of corruption and human rights issues in Russia, claiming the country is no place for companies that adhere to Western business models, The Telegraph reports. Khodorkovsky, who was chief executive of oil giant Yukos, has been in jail since 2003 and is regarded as a 'prisoner of conscience’ by Amnesty.

MADRID - Spanish prosecutors have asked a judge to set bail at 8.2 million euros ($10.5 million) for the king’s son-in-law and his former business partner before their possible trial in a corruption case troubling the monarchy for the past two years, the Associated Press reports. Inaki Urdangarin hasn’t been charged with a crime but is a suspect in a case in which he and his partner allegedly funnelled about 5 million euros in public money their nonprofit foundation received for conferences between 2004 and 2006 to other companies they controlled.

BEIJING - For Chinese children and their devoted parents, education has long been seen as the key to getting ahead in a highly competitive society. But just as money and power grease business deals and civil service promotions, the academic race here is increasingly rigged in favour of the wealthy and well connected, who pay large sums and use connections to give their children an edge at government-run schools, The New York Times reports. Nearly everything has a price, parents and educators say, from school admissions and placement in top classes to leadership positions in Communist youth groups.

BORDEAUX, France - French judges on Thursday grilled ex-president Nicolas Sarkozy about accusations his 2007 election campaign was financed with funds secured illegally from France's richest woman, Agence France-Presse reports. In a case that could wreck the 57-year-old's hopes of a political comeback, Sarkozy is suspected of taking financial advantage of elderly L'Oreal heiress Liliane Bettencourt when she was too frail to fully understand what she was doing.

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