From Transparency International. Renewed factional fighting in Libya has claimed more than 150 lives in the past two weeks. The oil rich country is on the verge of becoming a failed state with a powerless central government. This is the haunting legacy of Muammar Gaddafi’s corrupt regime that has left the country in a state […]
Tag Archives | Tradition Financial Services
Tags: Corruption, Goldman Sachs, Libyan Investment Authority (LIA), Norway, Panama, SNC Lavalin, SocGen, Societe Generale, Switzerland, Tradition Financial Services, Transparency, Transparency International, Yara
Swiss Broker Probed on Libyan Business
US and British authorities are investigating whether Switzerland-based brokerage firm Tradition Financial Services used improper means to gain access to Libya and its sovereign-wealth fund. The US probe is focused on potential violations of the Foreign Corrupt Practices Act, which applies to bribery of foreign officials. The brokerage allegedly hired relatives of powerful Libyan officials […]