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Entries in Equatorial Guinea (19)


TechnipFMC reserves $280 million for ‘global’ bribery resolution

London-based TechnipFMC plc said in an SEC filing Wednesday that it has set aside $280 million for a settlement of bribery-related offenses with authorities in the United States, Brazil, and France.

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Alexandra Gillies: Congress can (and should) fix the law on shell companies

Shell companies have been called the “getaway cars” of corruption. In some jurisdictions, including the United States, individuals can easily set up anonymous companies and use them to hide stolen funds.

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Teddy Obiang on trial in Paris for embezzlement

The son of Equatorial Guinea's president went on trial this week in France for embezzling more than $112 million from his country's treasury.

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Paper: Asset recovery cases against Obiang show weakness in U.S. enforcement regime

A recent paper I published in the Journal of Money Laundering Control looks at a prominent series of cases brought by the United States and France against assets owned by Teodoro Nguema Obiang, Second Vice President of the Republic of Equatorial Guinea and son of the country's president.

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Martin Kenney: Kleptocracy stinks. The DOJ fights back ‘with impact’

It is repellent to read how a tiny African country like Equatorial Guinea has been systematically plundered. For the culprit to be a member of the ruling family only adds weight to the wrong.

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The BOTA Foundation explained (Part Eleven): Future BOTAs and dictators' money

The BOTA Foundation was able to take the $115 million from the corruption case associated with James GIffen and use it effectively and efficiently to assist more than 200,000 poor children, youth and their families in Kazakhstan. 

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SBM Offshore pays $240 million to resolve Dutch bribe allegations, receives DOJ declination 

SBM Offshore CEO Bruno Chabas (Image courtesy of SBM)SBM Offshore agreed to pay $240 million to Dutch authorities Wednesday to settle allegations that it bribed government officials in Angola, Brazil, and Equatorial Guinea.

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A DOJ initiative that helps corruption's victims

We reported on Monday that the DOJ had announced a $30 million settlement with a vice president of Equatorial Guinea under its Kleptocracy Initiative. I hope the world noticed the noble and sensible purposes to which DOJ is putting these funds.

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‘Shameless’ kleptocrat Teddy Obiang forfeits $30 million in DOJ settlement

The Department of Justice said Friday it reached a settlement of its civil forfeiture cases against assets in the United States owned by the Second Vice President of the Republic of Equatorial Guinea Teodoro (Teddy) Nguema Obiang Mangue that he purchased with the proceeds of corruption.  

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SBM Offshore reserves $240 million for potential ‘sales practices’ settlement

Netherlands-based SBM Offshore included a $240 million provision in its financial statement for the first half of the year in anticipation of a potential settlement for improper sales practices.

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Former Putin media chief tied to $28 million California real estate

Mikhail Lesin, left, with Russia Prsident Vladimir PutinThe Russian media boss who served as the Kremlin press secretary and helped set up the state-funded RT network has bought at least three houses in the Los Angeles area worth over $28 million, a U.S. senator said this week.

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Report: DOJ to settle $70 million forfeiture action with Teddy Obiang 

The DOJ said last week it will settle a corruption-related civil forfeiture action involving more than $70 million in U.S. assets amassed by the son of Equatorial Guinea's dictator.

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