Dan Gertler Diamond and The London Hedgies In Corrupt Congo
The spotlight on a scandal in the heart of Africa is turning towards Britain
The spotlight on a scandal in the heart of Africa is turning towards Britain
The United States’ first foreign-bribery case against a hedge fund is full of dramatic detail.
The Democratic Republic of the Congo (DRC) holds the paradoxical status of possessing a rich mineral wealth at the same time as being one of the world’s least developed countries.
Glencore PLC is under investigation by Canadian regulators looking into more than $100 million in payments a subsidiary made to a company owned by an Israeli businessman who has been accused of bribing Democratic Republic of the Congo officials, said people familiar with the investigation.
More than US$ 750 million in mining revenues disappeared from the coffers of the Democratic Republic of the Congo over a three-year period, according to a report released Friday.
The huge story about bribery by a New York hedge fund in Africa should have been on the front page, but the New York Times buried it in the financial section.
Dan Gertler has many enemies and many problems. But being his friend is no better. In 2002 David Rafaelov was convicted of smuggling huge amounts of uncut diamonds from Russia to Israel.
The Democratic Republic of Congo told local units of Glencore, China Molybdenum, Ivanhoe Mines and four other mining companies to relocate their head offices as newly demarcated provinces fight over tax revenue and control of mineral projects.
La Generale Petroliere du Congo, a family-owned exploration company, said it expects the Democratic Republic of Congo’s government to sign an oil production-sharing contract after a tribunal upheld its rights to blocks covering the length of Lake Tanganyika.
Geneva – Mining giant Glencore said Monday it had struck a deal worth nearly $1 billion to purchase shares of two mines in the Democratic Republic of Congo from a controversial Israeli magnate.