November 18th, 2009
Task Force Member Global Witness released a new
report yesterday detailing the corrupt lifestyle of Equatorial Guinea's Teodorin Obiang, while also detailing the conspicuous inaction on the part of the U.S. government. Global Witness issued the following
statement in releasing the report:
Confidential U.S. government documents uncovered by campaign group Global Witness and reported on in today's New York Times, strongly suggest that Teodorin Obiang, son of the dictator of oil-rich Equatorial Guinea, purchased a $33 million private jet, a $35 million Malibu mansion, speedboats and a fleet of fast cars using corruptly...
November 18th, 2009
A new Global Witness report, ‘The Secret Life of a Shopaholic: How an African dictator's playboy son went on a multi-million dollar shopping spree in the US', strongly suggests that Teodorin Obiang, son of the dictator of oil-rich Equatorial Guinea, purchased a $33 million private jet, a $35 million Malibu mansion, speedboats and a fleet of fast cars using corruptly acquired funds. The report goes on to explain how, despite the ample evidence against him, the investigation is going nowhere and Teodorin continues to be allowed into the U.S.
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September 29th, 2009
Task Force member Global Witness has released the following
statement lauding the G20's action on AML standards at last week's summit in Pittsburgh:
G20 takes welcome step to stop banks fuelling corruption
Summit communiqué calls for stronger anti-money laundering standards to help curb illicit flows of looted state funds from developing countries
The G20 has urged an international watchdog on anti-money laundering laws to prioritise the fight against corrupt funds, a move warmly welcomed by anti-corruption group Global Witness today.
September 11th, 2009
A
new joint briefing paper by Global Witness, Tax Justice Network, Christian Aid and Global Financial Integrity explains how illicit financial flows out of the developing world is entrenching poverty. These flows include tax evasion, abusive transfer mispricing and the proceeds of corruption.
All of these illicit financial flows are facilitated by global financial opacity, both in tax havens and major financial centres.
As a result of the financial crisis, which was largely created by global financial opacity, governments are now starting to tackle these issues, particularly through the G20 process.
Describing a problem is not enough though: the paper...
