Middle East

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UK Blacklists Five Individuals Accused of Exacerbating Suffering Through Corruption

The United Kingdom on Thursday imposed asset freezes and travel bans on five individuals accused of enriching themselves from illicit schemes that worsened human suffering in Equatorial Guinea, Zimbabwe, Venezuela and Iraq. The sanctions announced by UK Foreign Secretary Dominic Raab under the nation’s Global Anti-Corruption sanctions regime target Equatorial Guinea’s… Read More

NMC founder sues EY, banks and execs for $8 bln over alleged fraud

B.R. Shetty, the founder of stricken UAE hospital operator NMC Health, has sued auditor EY, two former top executives of his companies and two banks in a U.S. court, seeking $8 billion in damages for an alleged multibillion-dollar fraud at his group. EY said in a statement: “We believe this… Read More

Mexico’s $300 million in spyware spending included kickbacks: FIU chief

AP — Mexico’s top anti-money laundering investigator said Wednesday that officials from previous administrations from 2012 to 2018 spent about $300 million in government money to purchase spyware from the Israeli spyware firm NSO Group. The bills for programs like the Pegasus spyware appear to have included… Read More
21st July 2021
Israel’s Prime Minister Naftali Bennett urged other nations to join with his country in building an international platform for defusing cyber attacks. A global cyber shield is the best defense against hackers, Bennett, a former cyber security entrepreneur, said Wednesday at a digital security conference in Tel Aviv. “If you… Read More
21st July 2021
When Donald Trump campaigned for the presidency in 2016 he famously vowed to “drain the swamp” in Washington — including the machinery that spins around the Capitol each day trying to influence policy making. Turns out the swamp got even murkier. Trump brought a transactional approach to the White House. Read More
20th July 2021
A prosecutor in Lebanon has summoned central bank chief Riad Salameh for questioning next month over corruption allegations, a judicial source said on Monday. Mr Salameh, one of world’s longest-serving central bank governors, is facing a series of allegations, including from Switzerland, France and Britain, over suspicions of money laundering,… Read More
20th July 2021
Syrian President Bashar al-Assad said on Saturday the main impediment to investment in the country was money stuck in ailing Lebanese banks. In a speech after being sworn in as president for a fourth term, Assad said estimates suggested the frozen funds were worth between $40 billion and $60 billion. Read More
20th July 2021
The United States is weighing new sanctions on Iran’s oil sales to China as a way to pressure Tehran to commit to a nuclear deal, sources familiar with the matter told The Wall Street Journal (WSJ) on Monday. US negotiators continue to work with European and international partners in Vienna,… Read More
20th July 2021
Bruno Daher, Credit Suisse Group AG‘s top executive in the Middle East, had an unusual message at a May sales meeting: an apology. He was sorry about having said earlier that he’d put a gun to his bankers’ heads if they didn’t shape up. He tends to… Read More
19th July 2021
U.S. President Joe Biden launched a new initiative last month to focus the government on the fight against corruption, a struggle he called “essential to the preservation of our democracy and our future.” The stakes are indeed high, and Biden was right to commit to working with… Read More
19th July 2021
The Enforcement Directorate on Saturday arrested Shivlal Pabbi, a Dutch national who allegedly ran ‘hawala’ operations in the garb of ready-made garments trade in the Netherlands. The accused got the proceeds of the crime laundered via some Pakistan nationals based in Dubai. Mr. Pabbi was allegedly trying to flee the… Read More
16th July 2021
Documents submitted to an arbitration procedure in Israel on behalf of Israeli mining magnate Dan Gertler implicate him in paying as much as $360 million in bribes to officials in the Democratic Republic of Congo, going by a request for legal assistance that Britain’s Serious Fraud Office passed to the… Read More
16th July 2021
What links an Italian broker accused of extorting the Vatican, South African brothers accused of absconding with bitcoin worth more than $3bn from their investors and a disgraced Turkish banking mogul who served time for harbouring his nephew after a murder? They all recently became citizens of… Read More