Financial Transparency Coalition

In the last year, industries across the board have experienced one of the most tumultuous markets in history. No industry, including oil and gas, has been immune from the economic downturn and potential pitfalls of fraud-related incidents. Today’s turbulent market has created the perfect storm for corporate fraud in the world of energy and other business sectors.

The recent conviction and sentence of an American billionaire, Bernard Madoff, to 150 years in prison for investment fraud may have again brought to the fore the need to strengthen Nigeria’s justice system in order to bring those who contravene the law, especially the rich to book. DAVIDSON IRIEKPEN writes.

The US Federal Bureau of Investigation has released its roundup of the top ten stories of the week. Money-laundering, fraud, and bribery cases came in at numbers 5, 7, and 8. From the FBI:

5. Buffalo: Two People Charged in United Nations Fraud Case

A 14-count Indictment was unsealed charging Deborah Bowers and Steve Jabar with wire fraud, money laundering and making false statements in connection with a scheme to defraud the United Nations Development Fund for Women of tens of thousands of dollars. Full Story

...

Continue Reading

Some people think American football is a vile parade of violence and athletic mediocrity. I think it’s one of the world’s most thoughtful sports. During your average game, one hour is spent moving and the other two are spent carefully orchestrating the next move. It’s fascinating. Like chess. But instead of inanimate objects, the pieces are attractive men in spandex. Well… some of them anyway. Football’s also a great way to understand financial fraud. Wednesday, former Tennessee Titan Reed Diehl pled guilty to a $5 million Ponzi scheme charge. Like a mini- Bernie...