Author: CorruptionDotNet

China: The man behind the internet firewall under probe.

11 December 2017 The picture above shows Lu Wei in Zuckerberg’s office. Lu Wei, former vice chief of the publicity department of the Communist Party of China (CPC) and a key official in implementing Chinese President Xi Jingping’s cybersecurity policy is being probed for corruption. An official government report said the he has “severely violated Party discipline”. It did not disclose any further information. Six other people including his colleagues or family members, were taken away for investigation. Lu was the key official who decided what the 730 million internet users can view. Foreign technology companies which want to enter...

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South Africa: Steinhoff corruption

9 December 2017 Steinhoff International is a South African international retail holding company that is dual listed in Germany and South Africa. It deals with mainly in furniture and household goods. It has operations in Europe, Africa, Asia, the United States, Australia and New Zealand. The company has some 130,000 employees around the world. The company admitted to “accounting irregularities” occurred in 2015. This admission caused it to lose over R150bn ($11bn) in its value over the last three days. PriceWaterhouseCoopers has now started investigations into accounting irregularities at Steinhoff. South African, German and US authorities are investigating the...

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Saudi Arabia: Crackdown on corruption or consolidation of power?

Update 14 December 2017 In a televised speech yesterday (Wednesday) to the country’s consultative Shura council, Saudi Arabia’s King Salman bin Abdulaziz said that his government was determined to confront corruption with “justice and decisiveness”,  giving his support to the crown prince, his son, for  crackdown involving mass detention of top Saudis including royals. Salman also said the government will work with the private sector to get economic diversification and to move away from dependency on petroleum. He said that the kingdom will focus on “Vision 2030” economic reform plan to find new sources of revenue. He added that...

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Zimbabwe: The Coup and the corruption

22 November 2017 Robert Mugabe resigned as President yesterday. Corruption in Zimbabwe has become endemic within its political, private and civil sectors. Zimbabwe ranks 154th out of 176 countries in the 2016 Transparency International Corruption Perceptions Index. In 2008, a Transparency International director announced that Zimbabwe loses US$5 million to corruption every day. Zimbabwe is heavily dependent on exports of tobacco, gold, diamond and platinum. President Robert Mugabe has been in power for 36 years and is the longest surviving head of state.  A British historian, Lord Acton, once wrote ‘Power tends to corrupt; absolute power corrupts absolutely’. This...

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USA: Paradise Papers

6 November 2017 The name refers to a leak of 13.4m files. Of these 6.8m – relate to a law firm and corporate services provider Appleby. It operated in 10 jurisdictions under this name. Last year, the “fiduciary” arm of the business was renamed Estera after a management buyout. Asiaciti is also implicated along with Appleby. Asiatic has an office in Singapore along with other offices in many other destinations. The news was revealed to the public on 5 November 2017. Appleby, a 119-year-old company, is not a tax advisor, but a leading member of the global network of...

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