Fraud Intelligence

A UK High Court judge has condemned Emirati-Lebanese shipbuilder Privinvest over its role in the 'tuna bonds' corruption scandal that landed Mozambique with US$2 billion in hidden debts, crashing its previously buoyant economy in 2016 when it defaulted on an IMF loan.

The UK Serious Fraud Office (SFO) has charged five former employees of Swiss commodities giant Glencore, including ex global head of the oil division, Alex Beard, with bribery in West Africa from 2007 to 2014.