Syndicate of banks funding meat packing company JBS -amidst allegations of deforestation, slavery, corruption and fraud.

JBS is the world’s largest meat company by revenues, capacity, and production including beef, poultry, lamb and pork. It is the largest beef exporter from Brazil and it sells its meat products under a range of brands including Swift, Friboi, Seara, Pilgrim’s Pride, Gold Kist Farms, Pierce, 1855, Primo, and Beehive.

According to the Brazilian Environmental Protection Agency (IBAMA), in March 2017, during a raid of two JBS meat processing plants, 59000 cattle were found that had been sourced from illegally deforested land.   ... →

Chinese corruption probe into Swiss lift firm , Schindler

On the 24th September two Chinese local managers, including the local managing director, of the Swiss company Schindler were taken in for questioning by the Chinese Authorities. The investigation of the lift and escalator manufacturer takes place as part of an anti-corruption campaign being undertaken by the Chinese President Xi Jinping. To date several government officials and foreign firms have been investigated, including the pharmaceutical giant GSK.[1]

The accusations relate to embezzlement and passive bribery (acceptance of bribes) and possibly bribery related to individuals.[2] While the exact allegations are still unclear the accusations could relate to investigations in the Chinese sales department.   ... →

Former executive director of China Mining Resources Group charged for corruption

The former executive of the China Mining Resources Group (CMRG), Peter Joseph Luk Kin, faces corruption charges in Hong Kong for the $15 million dollar sale of a CMRG subsidiary. A corruption commission accuses Luk of offering and accepting an “advantage consisting of 1.5 million shares of the company”.

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How corrupt is BHP Billiton?

The investigation against BHP Billiton for violating US bribery laws has been going on for four years. The accusation is concerned with gifts and services for government officials during the Olympics in Beijing and with bribery allegations in other construction projects. Supposedly, BHP already acknowledged some of the accusations. The US Securities and Exchange Commission and the Department of Justice have now informed BHP about possible consequences without specifying the potential degree of penalties.   ... →

Report Reveals Deutsche Bank and IFC Land Grabbing Scandal

“Rubber Barons,” a recent report released by the international NGO Global Witness links Deutsche Bank and the IFC (International Finance Corporation) to an upsurge in land grabbing that has been taking place in Laos and Cambodia since 2000. Cambodia and Laos have lost a reported 3.7 million Hectares of forestland to private Vietnamese companies financed by Deutsche Bank and the IFC – forty percent of which went to establishing rubber plantations.   ... →

Patria AMW: Trial on corruption in Slovenian tank deal

Corruption in Slovenia

A tank deal contracted in 2006 has evolved into several court procedures in different EU countries on the grounds of bribery and the formation of a criminal organization. At the centre of the issue is the competition of two defense companies for a deal with the Slovenian army with a total trade volume of 278 million euro.   ... →