India’s Ministry of External Affairs (MEA) has issued its first official statement regarding the US Department of Justice’s accusation of Gautam Adani and associates in a $265 million bribery scheme. The MEA clarifies it’s a private matter between companies and the DOJ, with no official request from the US government to India.
Former Attorney General Mukul Rohatgi criticized the US court indictment against the Adani Group, calling it vague and lacking specifics. He highlighted the absence of Gautam Adani, Sagar Adani, and Vneet Jaain’s names in crucial counts related to bribery and obstruction of justice. Adani Green Energy Ltd. also confirmed that these individuals were not charged with FCPA violations.
United Parcel Service (UPS) will pay a $45 million penalty for misrepresenting earnings due to improper valuation of its Freight division. Separately, BIT Mining agreed to a $4 million SEC fine and a $10 million DOJ fine for bribery. These cases highlight the SEC’s crackdown on accounting fraud and bribery in the business world.
The US Department of Justice is seeking to seize $16 million in cryptocurrency held in a Binance account, allegedly linked to bribes authorized by former FTX CEO Sam Bankman-Fried. The funds, including Solana, Avalanche, Ripple, Cardano, and Internet Computer tokens, are believed to have originated from illicit transactions related to Bankman-Fried’s attempt to bribe Chinese officials in 2021.
NetEase Games, a leading Chinese gaming company, is embroiled in a corruption scandal involving bribery and money laundering. The company has dismissed nine employees and is facing an investigation involving 28 suppliers and an estimated $139.3 million. This is the second major anti-corruption inquiry at NetEase since September 2023.
Two top executives at NetEase Games, including the former esports chief and head of marketing, have been arrested in China on charges of bribery and corruption. The investigation, which involves allegations of employees purchasing traffic for a contract value of approximately $278 million, has also resulted in the arrest of seven other employees. This scandal highlights the ongoing challenges of corruption within the Chinese gaming industry and raises questions about the future of NetEase’s partnerships with Western companies.
Zhong Yang, a former Chinese official nicknamed ‘the beautiful governor’ due to her striking looks, has been sentenced to 13 years in prison for corruption and misconduct. The sentence stems from allegations of accepting bribes, engaging in sexual relationships with 58 subordinates, and leveraging her position for personal gain. Despite her initial reputation for supporting farmers and the elderly, a documentary revealed a dark side, exposing her abuse of power and manipulation of government funds.
George Helmy, former chief of staff for New Jersey Governor Phil Murphy, was sworn in as the temporary replacement for former Senator Bob Menendez, who resigned after a bribery conviction. Helmy will serve until the November election, where Democratic Representative Andy Kim is favored to win the seat. Meanwhile, a businessman convicted alongside Menendez in the bribery case has pleaded guilty to separate bank fraud charges.
The Central Bureau of Investigation (CBI) arrested three individuals, including a CGST superintendent, for their alleged involvement in a ₹60 lakh bribery case in Mumbai. The arrests were made after a businessman filed a complaint accusing six CGST officials of demanding a bribe to avoid arrest and favorable treatment in an ongoing investigation. The CBI conducted a sting operation, catching the accused red-handed while receiving a portion of the bribe.
The parents of the Kolkata rape-murder victim have accused the police of forcing them to deny bribery allegations on camera, claiming they were pressured into making a video denying any financial offers. The family also alleges the police attempted to suppress the case by hastily cremating the victim’s body and prevented them from seeing her until after the autopsy.
