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  1. #1
    dangerous floater Winehole23's Avatar
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    Police officials in Monaco raided offices and homes of officials from oil company Unaoil on a request from the United Kingdom after allegations of corruption, involving several foreign companies. The large-scale corruption was revealed in a joint report Thursday by Australia's Fairfax Media and the Huffington Post which said that Unaoil and its owners — the Ahsani family — used multi-million dollar commissions to bribe corrupt government officials in oil-rich countries to win contracts for companies like Texas-based oilfield services giant Halliburton, its former subsidiary KBR, U.K.-based automaker Rolls-Royce, South Korean conglomerate Samsung and automaker Hyundai.


    Monaco government said in a statement on its website, cited by Reuters, on Friday that the U.K.’s Serious Fraud Office (SFO) had sent an urgent request for international assistance in criminal matters. The joint report by the two media outlets said the U.S. Department of Justice, anti-corruption police in the U.K. and Australia had started a joint investigation into the dealings of Unaoil. Although the Reuters report said the company has not yet commented on the scandal, the Thursday joint report said the company denied any wrongdoing.


    “Monaco authorities conducted searches of the homes of the leaders of the company Unaoil and at its headquarters in the Principality,” the statement from Monaco’s government said, according to Sydney Morning Herald, adding: “The leaders of this company were also interviewed on 29 and 30 March 2016. These searches and interviews were conducted in the presence of British officers, in connection with a case of vast corruption with international ramifications that involves many foreign companies active in the petroleum sector.”


    The statement added: “The items collected during the search will be now be used by the British authorities in their investigations.”


    The joint report, led “World's Biggest Bribe Scandal,” said bankers in New York and London helped launder Unaoil’s money while the company’s owners also built a major property investment firm in central London. The report added that officials in Iraq, Iran, Libya, Syria, Yemen, Kuwait, the United Arab Emirates, Kazakhstan, Azerbaijan, Turkmenistan and Uzbekistan were involved in the corrupt dealings by Unaoil. The report also said that managers from Italian oil giant Eni, Spanish engineering, procurement and construction company Tecnicas Reunidas, French engineering company Technip and U.S. drilling giant MI-SWACO — part of Schlumberger Limited — “not only actively supported bribery but were offered or pocketed their own kickbacks.”
    http://www.ibtimes.com/unaoil-corrup...vement-2346655

  2. #2
    Mr. John Wayne CosmicCowboy's Avatar
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    for discussion...is it right to hold doing business in other countries to the same standard of our own country? I can see if they were bribing US officials for US business...but doing business in a foreign country where bribery is part of the normal process and just a cost of doing business there...why is that a big deal?

  3. #3
    dangerous floater Winehole23's Avatar
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    it's illegal, besides being unethical, immoral and anti-compe ive. it's bad for business and corrupts governments.

    still think it's no big deal?
    Last edited by Winehole23; 04-03-2016 at 05:23 PM.

  4. #4
    dangerous floater Winehole23's Avatar
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    The governments of the US, the UK, Monaco and Australia disagree.

  5. #5
    Mr. John Wayne CosmicCowboy's Avatar
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    But they are international, worldwide companies. It is a simple fact that bribery is involved in doing business in many countries. Bribery didn't make the governments corrupt. The corrupt government creates the bribery system.

  6. #6
    dangerous floater Winehole23's Avatar
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    it works both ways, tbh.

  7. #7
    Mr. John Wayne CosmicCowboy's Avatar
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    , Mexico still runs under the Mordita system.

  8. #8
    dangerous floater Winehole23's Avatar
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    your sympathy for oppressed multinational corporations forced to corrupt practices by evil politicians is duly noted, however.

  9. #9
    Mr. John Wayne CosmicCowboy's Avatar
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    I bought a whole van load of drunks from going to jail in Piedras Negras for $75 dollars once. Got a police escort to the border.

  10. #10
    Mr. John Wayne CosmicCowboy's Avatar
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    your sympathy for oppressed multinational corporations forced to corrupt practices by evil politicians is duly noted, however.
    When in Rome....

  11. #11
    dangerous floater Winehole23's Avatar
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    more anecdotes and handwaving. very typical CC braggadocio.

  12. #12
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    Unaoil story broke several days ago. Congrars for finally catching up

  13. #13
    Veteran
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    , Mexico still runs under the Mordita system.
    So does USA.

    In English it's called US congress

  14. #14
    Veteran Wild Cobra's Avatar
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    it's illegal, besides being unethical, immoral and anti-compe ive. it's bad for business and corrupts governments.

    still think it's no big deal?
    So...

    Have the allegations that prompted the search and seizure shown to have any merit yet? Nothing was yet said that any wrongdoings were found.

    Oh...

    I forget...

    The truth doesn't matter with you. Just the intensity of the allegation...

  15. #15
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    Australian tax office probes hundreds for possible tax evasion after Panama leak

    The Australian Tax Office (ATO) said on Monday it is investigating more than 800 wealthy clients of a Panama law firm for possible tax evasion.

    The probe follows the reported leak of more than 11.5 million do ents from the files of law firm Mossack Fonseca, based in the tax haven of Panama, revealing details of hundreds of thousands of clients.


    The do ents are at the center of an investigation published on Sunday by the International Consortium of Investigative Journalists, the German newspaper Süddeutsche Zeitung and more than 100 other news organizations around the globe. ICIJ is the international arm of the Center for Public Integrity.


    The leaked "Panama Papers" cover a period over almost 40 years, from 1977 until as recently as last December, and allegedly show that some companies domiciled in tax havens were being used for suspected money laundering, arms and drug deals, and tax avoidance.


    "Currently we have identified over 800 individual
    taxpayers and we have now linked over 120 of them to an associate offshore service provider located in Hong Kong," the Australian tax office said in a statement emailed to Reuters. It did not name the Hong Kong company.

    ATO Deputy Commissioner Michael Cranston said his office was working with the Australian Federal Police, the Australian Crime Commission and anti-money laundering regulator AUSTRAC to further cross-check the data from the do ents.


    "Some cases may be referred to the Serious Financial Crime
    Taskforce," Cranston said in the statement. "

    The message is clear - taxpayers can't rely on these secret arrangements being kept secret and we will act on any information that is provided to us."


    http://www.reuters.com/article/us-pa...edName=topNews

    And the USA's IRS? "we can't, the Repugs cut many $100Ms from IRS budget"












  16. #16
    The D.R.A. Drachen's Avatar
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    So...

    Have the allegations that prompted the search and seizure shown to have any merit yet? Nothing was yet said that any wrongdoings were found.

    Oh...

    I forget...

    The truth doesn't matter with you. Just the intensity of the allegation...
    Why would you even post this? The winehole quote you highlighted is in response to CC's hypothetical.

  17. #17
    TheDrewShow is salty lefty's Avatar
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    Monaco

    Harboring mafiosos for decades and pretending they didn't know it

  18. #18
    dangerous floater Winehole23's Avatar
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  19. #19
    dangerous floater Winehole23's Avatar
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    This goes way beyond official corruption. Mossack Fonseca (allegedly) helps crooks get away with their loot and obstructs investigators on their behalf.

  20. #20
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    Monaco

    Harboring mafiosos for decades and pretending they didn't know it
    Not just criminals, but legit Euros like pro tennis players, footballers(soccer), F1 drivers, etc, etc. "princedom by the sea" is a huge tax scam.

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