Financial Transparency Coalition

Silvio Berlusconi, the former prime minister of Italy was sentenced on 26 October to 4 years in prison for fraud but because of Italy’s laws limiting the length of trials, he is unlikely to serve any time. Headlines around the world read “Berlusconi gets four year jail sentence.” But Berlusconi is unlikely to see the inside of a cell following his conviction for fraud, not because an appeal will overturn the case but because the case will be closed under Italy’s short statute of limitation laws.

A six month joint investigation published this week in British papers revealed that the country’s authorities have not been proactive in seizing key assets by the former Egyptian president Hosni Mubarak and his sons Alaa and Gamal.

WASHINGTON, DC – A letter published yesterday by two influential U.S. Congressmen suggests that Wal-Mart de Mexico (Walmex), the Mexican subsidiary of U.S. retailer Wal-Mart Stores Inc., which recently came under fire for possible violations of the Foreign Corrupt Practices Act, may have been engaged in money laundering and tax evasion in Mexico.

This spring, reports surfaced that Wal-Mart's Mexico arm may have engaged in widespread bribery in order to rapidly increase its presence in Mexico. Even immediately after the initial New York Times story, the company itself hinted that a thorough investigation may turn up even more.