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Financial Fraud Law

#9 in Financial Fraud Law for The Year Is…

 It was not all that difficult to begin our countdown of the Top 10 in Financial Fraud Law for the year with overseas bank accounts.  So, we here at the Financial Fraud Law Blog thought, after we made that decision, that at least the next few “winners” would be rather straightforward choices.  Well, not really. It turns out that to narrow so many issues – so much financial fraud law – down to a Top 10 list is very difficult. Nevertheless, we are ready to take the next step and to announce #9 in Financial Fraud Law for the year. Here it is:

#9: Corruption.

Unfortunately, there is plenty of corruption here in the United States – from coast to coast.  Look at just some of our recent posts on this:

Should Corrupt Politicians Keep Their Government Pensions? Manhattan US Attorney Says No

For Whom the Bell Tolls: City’s Former Chief Administrative Officer to Plead Guilty to Conspiracy and Tax Charges

After ‘Reign of Fraud’ that Left City Nearly Bankrupt, a Jury Convicts for Public Corruption

Corruption is Commonplace in New York, and Reforms Cannot Wait, Commission Finds

And although there is plenty of corruption in the U.S., we are not just talking about that when we name Corruption as #9 in Financial Fraud Law for the year. Internationally, we have:

Corruption, Crime, and Tax Evasion Drained US$946.7 Billion from Developing Countries, Study Finds

Least Corrupt Country in the World Is … Not the United States

The Reach of the Foreign Corrupt Practices Act: German Engineering Firm to Pay $32 Million Criminal Penalty

Weatherford International and Subsidiaries Agree to Guilty Plea to FCPA and Export Control Violations and Will Pay $252 Million in Penalties and Fines

Head of Country’s Largest Bank Apologizes over Corruption Allegations. Oh, the Country is South Korea

Indeed, just yesterday the president of the World Bank, Jim Yong Kim, called corruption public enemy number one.

We’re not putting it that high in the Top 10 in Financial Fraud Law for the year – you’ll see what we think should be ranked even higher in upcoming days – but you get the point. Corruption is a Top 10 problem.

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#10 in Financial Fraud Law for the Year Is….

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