The April 2013 edition of our corporate Crime Update covers developments in relation to corruption, money laundering, fraud, sanctions and related matters across a number of jurisdictions.  For the full update on each jurisdiction, please click on the name of the country.  A brief overview of what is covered in each country’s update is set out below.

This month, we also welcome to the HSF corporate crime and investigations team Rod Fletcher; one of the UK’s leading business crime and investigations specialists. In conjunction with Graham More, Rod will lead the London team, which is part of the firm’s global corporate crime practice, and will work closely with Susannah Cogman and Dan Hudson. The team in London forms part of a broader group that also covers contentious financial services regulatory, banking litigation and public law.

Rod joins Herbert Smith Freehills from Slater & Gordon (formerly Russell, Jones and Walker) where he was head of Business Crime and Regulation.  He has significant experience advising corporates and individuals and has been consistently ranked in the legal directories for his expertise in corporate / white-collar crime, fraud and regulatory investigations.  In the Chambers UK 2012 directory he was ranked as a star individual in the ‘Fraud: Criminal: UK-Wide’ category.  Rod is also a founding member of the Association of Regulatory and Disciplinary Lawyers.

 United Kingdom

  • Edinburgh Solicitor jailed for money laundering
  • Ex-Police officer pleads guilty to corruption
  • HM Treasury publish Advisory Notice on Money Laundering and Terrorist Financing controls in Overseas Jurisdictions
  • National money laundering and terrorist financing risk assessment
  • FATF President welcomes MLD4 and comments on fourth round of compliance assessments
  • EP draft report on organised crime, corruption, and money laundering
  • European Commission speech on AML
  • Three Men charged in Ponzi Style Scheme
  • HM treasury updates Financial Sanctions Notice (Iran)
  • EU suspends sanctions against most Zimbabwe officials

 France

  • President Hollande cracks down on tax evasion

Spain

  • Amendments to the draft bill that aims to modify the legal regime applicable to managers of credit institutions
  • Draft bill on transparency, access to public information and good governance

 Middle East

  • KSA Railway contracts are being investigated for financial corruption
  • Bribery case brought against a public employee in the UAE
  • Draft Anti-corruption Federal Law expected sometime this year in the UAE

 Russia

  • Share manipulation at Avangard Bank
  • General Prosecutor’s office will seek to bring Berezovsky’s assets back to Russia

 Hong Kong

  • TVB manager Stephen Chan acquitted in re-trial
  • Kwok brothers plead “not guilty” to corruption charges
  • Former executives of Anglo Starlite Insurance charged with embezzlement & falsification of records
  • Former chairwoman of Pacific Challenge Holdings appeals fraud conviction over share-option scam
  • “Warrant King” appeals market manipulation conviction while DoJ seeks review of sentence
  • Former executives of Anglo Starlite Insurance charged with embezzlement & falsification of records

 Japan

  • FSA fines individual for insider trading
  • New Ace Asset Management’s licence revoked
  • Antitrust chief promises tough enforcement

 China, SE Asia, India

  • TI welcomes China’s commitment to beating corruption
  • RBI probing charges of money laundering, ICICI, HDFC & Axis Bank under lens
  • Indian government approve changed to bill to tackle bribery by foreigners
  • Private businesses take lead in Thai graft battle

 Australia

  • Corruption claims hurt biggest NSW operator of speed cameras
  • Beef importer caught ‘bribing’ Indonesian MP
  • Developments in Australian Domestic Corruption Investigation
  • Sanctions developments in Australia – Zimbabwe and Myanmar

 United States

  • Hungarian nationals sentenced for $500,000 online fraud
  • Commodities firm owner sentenced for multi-million dollar fraud
  • US Treasury Department looks to hold bankers responsible for sanctions violations