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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Neil Hodge2022-11-07T16:22:00
The experience of Xavier Andre Justo—the former Swiss banker turned whistleblower in one of the most notorious financial scandals of the past decade—shows that those who speak up about bribery and corruption are often the only victims of the supposed “victimless crimes” they report.
Justo had been one of the directors of oil company PetroSaudi’s London office. In 2009, the company engaged in a multi-billion-dollar joint venture with Malaysia’s newly set up sovereign wealth fund, 1Malaysia Development Berhad (1MDB), whose aim was to fund infrastructure projects to drive the country’s economic growth.
Following a dispute with PetroSaudi’s co-founder Tarek Obaid, Justo left the company in 2011—taking with him to his home in Thailand a server full of emails and other sensitive financial documents as an “insurance policy.”
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News and analysis for the well-informed compliance or audit exec.
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Our lowest price ($1 per day) for one year.
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2023-11-14T16:27:00Z By Kyle Brasseur
With a moving target for compliance under the EU’s Whistleblower Directive, the opportunity exists for companies to set their own standards on whistleblowing and engender greater trust among employees, according to a panel at Compliance Week’s Europe conference in London.
2023-03-10T20:40:00Z By Adrianne Appel
Former Goldman Sachs Managing Director Roger Ng was sentenced to 10 years in prison for his role in the 1MDB fraud scandal.
2022-11-21T17:50:00Z By Neil Hodge
A U.K. employment tribunal’s ruling that a former BP employee was not entitled to whistleblower protection has shone a spotlight on the legal issues workers must consider ahead of speaking up.
2024-07-25T17:36:00Z By Jeff Dale
The Consumer Financial Protection Bureau is warning companies against intimidating potential whistleblowers by forcing them to sign broad nondisclosure agreements to deter misconduct from coming to light.
2024-07-19T16:20:00Z By Aaron Nicodemus
A whistleblower will be paid $37 million by the Securities and Exchange Commission for providing original, credible information that led to a successful enforcement action.
2024-07-16T16:48:00Z By Aaron Nicodemus
Anonymous employees of OpenAI accused the company of requiring employees to sign nondisclosure agreements (NDAs) that “prohibited and discouraged” them from reporting securities law violations to federal regulators.
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