High-Ranking Cardinal Found Guilty in Embezzlement Case.

Over the weekend, former high-ranking Cardinal Angelo Becciu was found guilty of Embezzlement and Fraud by a criminal court in the Vatican and sentenced to five and a half years in prison. According to a Reuters report, the trial centered on the purchase of a building in London formally by the department store Harrods for £350 million in 2013 through an Italian financier named Raffaele Mincione, while Becciu was the second highest ranking member of the Secretariat of state. According to a report by the CBC, Minicione was also found guilty of embezzling funds from the Vatican. In 2018, with Becciu in another position within the Vatican, the Secretariat attempted to turn to another financier, Gianluigi Torzi, who himself fleeced the Vatican out of millions and was also found guilty of fraud and embezzlement. Eventually, the Vatican took a £140 million loss on the entire investment. No one told Becciu that making a habit out of embezzlement is a bad idea.

EU Approves Membership Talks with Ukraine.

Yesterday, the EU approved membership talks with Ukraine and Moldova. While this is undeniably a big step for Ukraine as a country, it is not certain that Ukraine will be accepted into the bloc. According to a report in The Guardian, Hungarian President Viktor Orban, a well-known ally of Russia and President Putin, is threatening to hold up the process in any way possible. It is entirely possible that Orban’s sole goal was to get the EU to release 10 billion Euros from the EU budget. Ukraine has a lot of work to do before it can be accepted into the bloc. According to an article in Reuters, Ukraine must continue to clean up its judicial system and hire more anti-corruption professionals. It will be a long road, but based on its recent track record, Ukraine is committed to joining the EU despite the ongoing conflict with Russia.

The State of Corruption in Moldova.

(Disclaimer: Yesterday, I attended an event at the Brookings Institute where the Justice Minister of Moldova spoke about the country’s Anti-Corruption efforts).

Moldova borders Ukraine in Eastern Europe, and Russia is viewed as its sphere of influence due to Moldova being part of the Soviet Union. According to the Anti-Corruption Resource Center, Moldova is a country that, like many in the region, has a strong oligarchy where corruption and bribery are prevalent. Despite this, in 2021, the election of Maia Sandu and the Party of Action & Solidarity (PAS) signaled a new era of commitment to anti-corruption initiatives. An article by the Center For Security and International Studies states that due to the conflict in Ukraine, Moldova has applied for membership to the EU despite opening up to foreign investors and instituting judicial reforms. While these are encouraging steps to combat corrupt influences, it appears that, like Ukraine, Moldova is trying to make strides in eradicating corruption.

Two High-Ranking Cyber Security Officials Sacked in Ukraine.

Today, two high-ranking officials in the Ukrainian government’s cyber security department were fired. According to a report in Reuters, Yurii Shchyhol and Viktor Zhora, the head and deputy head of the State Service of Special Communications and Information Protection of Ukraine (SSSCIP), were sacked due to allegations of their role in a plot to embezzle $1.72 million between 2020 and 2022. According to a report in US news, Shchyhol and Zhora are accused of buying software at increased prices from two companies they allegedly ran. The procurement process for the software program was very secretive and possibly rigged in favor of Shchyhol and Zhora. Ukraine is making strides in confronting corruption, but there is a long way to go.

Eric Adams and Turkish Money in New York Politics.

Last week, Eric Adams, the mayor of New York City, got himself embroiled in a fundraising scandal. According to an article in Reuters, Adams’s chief campaign fundraiser, Brianna Suggs, had her home searched by FBI agents on November 2nd due to Adams’ possible involvement in a scheme to funnel foreign money from a Turkish donor to his mayoral campaign. On top of that, according to a report in the New York Times, Adams allegedly pressured the New York Fire Department (NYFD) to sign off on the Turkish government’s new consular building despite safety concerns. A follow-up article in the Times stated that Adams had cultivated close ties to the Turkish business community in New York. Many people this time of year are looking forward to turkey and all of the fixings; however, for Adams, the fixings surrounding Turkey could be bribery and corruption, not stuffing and mashed potatoes.

Portugal PM Costa Resigns After Corruption Probe.

Today, the prime minister of Portugal, Antonio Costa, resigned due to his role in corruption allegations. According to an article in Reuters, Costa’s chief of staff, Vitor Escaria, was detained by police, and the minister for infrastructure, Joao Galamba, was named the prime suspect. According to an article in Politico, the allegation centers on large-scale infrastructure projects involving the extraction of lithium in the north of the country, as well as a project focused on the development of green hydrogen technology. The socialist government under Costa has been committed to green energy ventures. Despite this, the projects have been dogged by allegations of environmental damage and the poor quality of lithium extracted. This is a significant blow for the socialist party as they were re-elected last year, and Costa was expected to stay in power for a while longer.

Panama Removed from FATF Gray List.

Last week, Panama was from the Financial Action Task Force (FATF) Gray List. FATF is an Inter-governmental organization that monitors corruption worldwide. According to an article in the US News, the Panamanian government has made enough reforms to the financial sector that the country can be taken off the list. This will, according to the article, open the door to more international investment. While this is undeniably a good sign, one has to hope that the type of people who want to put money in Panama are doing it for the right reasons.

Former Albanian PM Ensnared in Corruption Probe.

The former Prime Minister of Albania, Sali Berisha, was recently charged with corruption offenses. According to a Reuters article, Berisha hopes to steer the privatization of land once owned by a local football club, FK Partizani, in such a way that it would benefit a company owned by his son-in-law. According to a report from the AP, Berisha believes these charges are politically motivated by the current PM, Edi Rama. Berisha has a checkered history involving corruption; according to ABC News, in 2021, Berisha was banned from entering the US due to numerous allegations of corruption during their tenure as PM from 2005 to 2013. It is unclear how this will play out, but I would assume that Berisha may well be facing a stretch behind bars.

Menendez Pleads Not Guilty to Federal Corruption Charges.

Yesterday, according to an article on NBC Bay Area, Robert Menendez was back in a federal courtroom in New York City after the indictment was rewritten to add a charge. Menendez pleaded not guilty to being a foreign agent for the government of Egypt. According to an article on CBS.com, Menendez’s wife and Wael Hama, an Egyptian-American businessmen, pleaded not guilty last week, while Menendez was allowed to delay his arraignment due to his senate commitments. Due to these allegations, Menendez has stepped down from chairing the powerful Senate Foreign Relations Committee. The trial continues.

Former Head of China Bank Arrested on Corruption Charges.

Today, China arrested the former head of one of its largest commercial banks, Liu Liange. According to the BBC, Liu is accused of illegally granting loans, bringing banned publications into China, and accepting bribes. Liu was expelled from the communist party after this accusation came to light. According to Barrons, President Xi has been embarking on a wide-sweeping campaign to eradicate corruption from the Communist Party. One must assume that Liu probably won’t see the light of day soon.