Today, prosecutors for the European Union (EU) looking into financial crimes are investigating the former head of the European Investment Bank (EIB), Werner Hoyer. According to a report in Politico, the European Public Prosecutors Office (EPPO) is investigating Hoyer and another individual for allegations that they misappropriated EU funds and abused their power in office—police in Germany and Luxembourg, where the EIB have been working jointly on the investigation. According to a report in Euronews, the EIB has 250 billion Euros in capital that funds climate change projects and the future reconstruction of Ukraine. It is unclear what Hoyer’s future is, but the former head of the investment bank that serves the EU is never a good look.
Category: International Corruption
Kejriwal Released On Bail By The Indian Supreme Court.
Several weeks ago, I wrote an article about the Chief Minister of the capital of Delhi, Arvind Kejriwal, being arrested in March for corruption charges. Today, a court in India ruled that he should be released from prison and allowed to campaign during the ongoing national elections. According to a report by Yahoo, Kejriwal warned that India is on the brink of “dictatorship.” As soon as Kejriwal was released, thousands of his supporters flooded the streets of New Delhi in celebration. Despite Kejriwal being released on bail, considering the state of democracy in India at the moment, it wouldn’t surprise me if he ended up back in prison.
Rep Cuellar Charged With Bribery.
Last Friday, Henry Cuellar, a Democrat in the House of Representatives from Texas, was charged with bribery & money laundering. According to a report in the New York Times, Cuellar and his wife Imelda are alleged to have accepted $600,000 from an oil and gas company owned by the government of Azerbaijan to lobby on its behalf in the U.S. He also made several speeches in Congress praising the Azeri government. He also tried to stop a bill that cracked down on predatory lenders that apparently would benefit an unknown Mexican bank that he and his wife were doing business with. According to a report in the Guardian, Imelda Cuellar set up shell companies to launder the proceeds of bribes. This is a very worrying situation for the Democrats, as Cuellar may be forced to resign and open the door for the Republicans in a pivotal House seat.
Head of Vietnamese Parliament Resigns in Ever-Widening Corruption Scandal.
On Friday, the head of the Vietnamese Parliament resigned in another blow to Vietnamese political stability. Vietnam is a country that has recently been embroiled in an ever-growing list of corruption scandals. According to a report in the AP, Vuong Dinh Hue resigned shortly after his deputy, Pham Thai Ha, was charged with abuse of power. There is no indication that Hue has been involved in corruption, despite investigators stating that he “violated party regulations.” It appears that Vietnam’s political future will remain uncertain if senior leaders continue to resign due to corruption allegations.
Shoigu’s Deputy Caught Up in Corruption Probe.
On Tuesday, a close ally and deputy of the Russian defense minister, Sergei Shoigu, was detained on corruption charges. According to a report by NBC News, Timur Ivanov was detained after it was alleged that he had accepted bribes on a massive scale. Ivanov has been a minister since 2016 and has been involved in property management and housing at the Russian Defense Ministry, among other portfolios. According to a report by CNN, a Russian construction magnate, Alexander Fomin, attempted to bribe Ivanov with a million Rubles (roughly $10,000) and was subsequently arrested as well. If I were Ivanov and Fomin, I would be planning for an extended “holiday” in Siberia.
Ukraine’s Agriculture Minister Facing Allegations of a Land Grab.
Yesterday, Ukraine’s agriculture minister, Mykola Solsky, agreed to cooperate with a corruption investigation involving the alleged illegal seizure of public land. According to a report in Al Jazeera, the National Anti-Corruption Bureau of Ukraine (NABU) discovered a plot by a serving minister in President Zelenskyy’s cabinet to illegally acquire 7.3 million dollars of state-owned land in Northeastern Ukraine. According to a report in Barron’s NABU, it was alleged that a “criminal group” that may or may not have been led by Solsky attempted to acquire a further 3,300 hectares of land that are valued at $5 million. NABU is also trying to prove Solsky’s involvement by saying he and his co-conspirators attempted to destroy documents that showed that the Ukrainian Government rightfully owned the land. It is unclear what the outcome of this investigation will be, but it is heartening to see Zelenskyy’s government taking steps to clamp down on corruption.
Head of Montenegro’s Anti-Corruption Fired after Abuse of Office Allegations Surface.
Yesterday, the head of Montenegro’s Anti-Corruption Agency (ACA) was fired after allegations surfaced that she abused her power in office. According to a report in Barron’s Jelena Perovic, she was arrested after a government investigation found that she had awarded herself overtime pay worth $14,000 in 2023. Montenegro is amid an anti-corruption drive in a bid to be admitted to the EU. According to a report in Radio Free Europe, Perovic’s lawyer, Nikola Martinovic, said that her arrest was related to the alleged misuse of a state car. Whatever might or might not have happened, it’s never a good look when the head of an Anti-Corruption agency gets arrested for misuse of public office.
Vietnam Sentences Lan to Death Over Fraud.
Last Week, the Vietnamese real estate magnate Troung My Lan was sentenced to death after being found guilty in a massive financial fraud trial. Vietnam is a country that has been plagued by corruption, particularly in and around the COVID-19 pandemic. According to an AP report, Lan was illegally involved with the Saigon Joint Stock Commercial Bank and set up 2,500 loans, which caused the bank to lose $27 billion. Lan grew famous in Vietnam by founding the real estate firm Van Thinh Phat. The Ho Chi Minh City court leveled such a harsh sentence because Lan was at the head of a well-organized criminal network, and there was no chance of her repaying the court-ordered $26 million to the bank. According to Al Jazeera, her lawyers have 15 days to appeal the death sentence.
Former Colombian President Uribe to Face Trial.
This week, the former Colombian President Alvaro Uribe has been charged with fraud and witness tampering by Colombian prosecutors. According to a report by The Guardian, Uribe is facing allegations that he used right-wing paramilitary groups to target leftist rebels. Uribe is praised by many on the Colombian right wing for eradicating the threat of The Revolutionary Armed Forces of Columbia (FARC). According to a report in The Washington Post, Uribe retains a large amount of political capital in that he has helped elect two successors into the office of president. Uribe has faced legal issues for the last decade so that I wouldn’t expect a swift conclusion to this trial.
Peru Embroiled in “Rolexgate” Corruption Scandal.
Last Week, Peru was embroiled in another political corruption scandal. Known as “Rolexgate,” According to a report in The Guardian, it emerged that President Dina Boluarte, who came into office on an anti-corruption platform, had amassed a collection of jewelry, including several Rolex watches valued at $500,000. Boluarte’s presidential salary is listed at only $3,000 a month, so how exactly she amassed such a valuable collection is anyone’s guess. According to a report in Le Monde, Peruvian prosecutors have charged Boluarte with illicit enrichment and failure to disclose assets. Boluarte’s defense is ever-shifting. Firstly, she claimed the Rolexes were the “fruit of my labor,” stating that she had worked since she was 18 years of age; then she said that she accepted the watches as a loan from a provincial governor, which the governor almost certainly would have asked for something in return. No matter what her explanation is, the whole affair seems dodgy.
Crispin Corruption Report 