As I prepare to depart for a few days in Palm Springs to visit family, there is so much news and I wanted to share the arrests of the criminals I’m seeing…
Is it just me, or is the tempo increasing? This is just a smattering of what’s in the headlines these past few weeks. I’d call it mass arrests, wouldn’t you?
And what do you know? It factors in the medical corruption, as well. ~ BP
Fifa corruption live: Sepp Blatter could be questioned by Swiss police ‘in coming weeks’May 27, 2015
The Fifa president Sepp Blatter could be questioned by Swiss prosecutors investigating the 2018 and 2022 World Cup bidding process, as the US indicted nine officials from football’s governing body.
Here are the latest updates:
• Fifa officials arrested in corruption investigation
• Separate probe launched into allocation of 2018 and 2022 World Cups
• Fifa presidential candidate calls it ‘a sad day for football’
• US DoJ names indicted officials, including Fifa vice president Jeffrey Webb
• US officials say president Sepp Blatter ‘not yet cleared’, but elections to go ahead as planned on Friday
• Blatter himself ‘quite relaxed’ in wake of arrests, ‘confident he is ‘not involved’
• Allegations include wire fraud, racketeering and money laundering
• Officials to be extradited to the US to face federal charges
• They are being investigated on suspicion of the ‘acceptance of bribes and kick-backs’ worth more than $100m
And a comment from an hour ago…
AP says an arrest warrant has been issued in Trinidad and Tobago for former FIFA vice president Jack Warner at the request of US authorities, the attorney general of the twin island Caribbean nation, says.
Guatemala Central Bank Chief ArrestedMay 20, 2015
Spot the banana republic(s):
- In one country, several of the world’s largest banks settle as petty criminals for rigging the world’s largest market and defrauding countless investors. Some get a wristslap. Others, those who have been caught previously manipulating virtually every other market, get probation and promise never to manipulate again despite promising just that a few years ago. Nobody is arrested. Nobody goes to prison.
- In another country, a member of a central bank’s executive committee tells a select group of hedge fund millionaires precisely what market moving thing said central bank will do, giving them a 10 hours head start over the general public to put on the appropriate trades. Hedge funders make millions thanks to the leak defrauding countless investors who do not have the material, market-moving information; central bank blames “internal procedural error.” Nobody is arrested. Nobody goes to prison.
- In a third country, the central bank governor is arrested in a bribery probe that also targeted a former presidential aide. The president says “Nobody is above the law. I’m the first one to regret that these situations are occurring and the first to demand that justice is served.”
* * *
We are talking about today’s record-breaking FX rigging settlement, yesterday’s premeditated leak by ECB’s Benoit Coeure to hedge funds at the Brevan Howard Centre for Financial Analysis, and ironically, the arrest of Guatemala’s central bank governor hours ago.
We are confident that Goldman already has a spare partner or two on their way to take over for Suarez. After all, let no crisis or central bank arrest go to waste.Guatemala’s central bank governor was arrested on Wednesday in a bribery probe that also targeted a former aide of President Otto Perez, who has faced mounting pressure since his vice president quit two weeks ago over a separate graft scandal.
The Guatemalan attorney general’s office said it had arrested central bank chief Julio Suarez, and issued an arrest warrant for Juan de Dios Rodriguez, Perez’s former personal secretary and head of the Guatemalan Social Security Institute.
The office said Suarez, who has a seat on the institute’s board, had been arrested along with 14 others over a $14.5 million medical services contract awarded by the institute. The charges include fraud, influence trafficking and charging illegal commission, prosecutors said.
Ivan Velasquez of the International Commission against Impunity in Guatemala (CICIG), a United Nations-backed group working with prosecutors on the case, said investigations that began last year found that the contract was rigged in favor of a pharmaceutical company. “We have very coherent evidence to show that the members of the tendering board took illegal steps,” Velasquez said.
According to the investigators, taped phone conversations showed that the company, identified by the prosecutor’s office as the Guatemalan unit of Mexico’s Pisa, paid bribes to officials from the institute to win a dialysis contract. A Pisa spokesman declined to comment.
The central bank said in a statement that Suarez had its full support and that it would continue to operate as normal. The Social Security Institute was not available to comment.
President Perez said he welcomed the investigation.
“Nobody is above the law,” Perez said in a televised address. “I’m the first one to regret that these situations are occurring and the first to demand that justice is served.”
We are, however, confused: just which is the banana republic?
Thanks to: http://www.starshipearththebigpicture.com