Corporate Corruption News Stories

Excerpts of Key Corporate Corruption News Stories in Major Media

Below are key excerpts of revealing news articles on corporate corruption from reliable news media sources. If any link fails to function, a paywall blocks full access, or the article is no longer available, try these digital tools.

Note: This comprehensive list of news stories is usually updated once a week. Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.

A whistle-blower who once worked for Monsanto walked away with a handsome payout for alerting regulators to accounting improprieties within the company, according to Reuters. Regulators will reportedly award the former executive with $22 million in connection with the $80 million settlement agreement Monsanto made with the S.E.C. over an incentive program the company ran to promote its trademark weed killer, Roundup. The $22 million payout is the second-highest sum the S.E.C. has given so far to a whistle-blower, behind a $30 million award paid in September 2014. The regulatory agency enacted a program to sweeten the idea of reporting impropriety in 2011, as part of the Dodd-Frank reforms. With between 10 and 30 percent of penalties or settlement agreements made with the government on the line, Wall Streeters and company insiders have all but lined up to tip off the S.E.C. Between September 2014 and September 2015 alone, the agency says 4,000 people forked over information, and more than 30 of them have pocketed a collective $85 million over the last five years.

Note: Monsanto lied to regulators and investors about RoundUp's profitability for three years. Major lawsuits are beginning to unfold over Monsanto's lies on the dangers of Roundup. Yet the EPA continues to use industry studies to declare Roundup safe while ignoring independent scientists. For more along these lines, see concise summaries of deeply revealing news articles on food system corruption and health.

Two men kicked in the door to Berta Cáceres’s house in the small Honduran mountain town of La Esperanza. One of them opened the door to her bedroom and fired six shots. She died moments later. The murder ... might simply have receded into a grim tally of regrettable losses. But Ms. Cáceres, 44, had won international acclaim for leading her indigenous Lenca community against a dam planned on their land. Now, 20 months after the killing, a team of five international lawyers has warned that the people who ordered it may never face justice. The evidence, the lawyers said, points to a plot against Ms. Cáceres that was months in the making and reached up to senior executives of Desarrollos Energéticos, known as Desa, the Honduran company holding the dam concession. “The existing proof is conclusive regarding the participation of numerous state agents, high-ranking executives and employees of Desa in the planning, execution and cover-up of the assassination,” the lawyers wrote. Eight suspects are in custody, including ... a retired Honduran Army lieutenant who was Desa’s director of security until mid-2015. “What the public ministry has yet to do is indict the people who hired Bustillo to plan the operation,” said Miguel Ángel Urbina Martínez, one of the lawyers reviewing the case. “There was this criminal structure comprised of company executives and employees, state agents and criminal gangs that used violence, threats and intimidation,” said Roxanna Altholz, [a] member of the lawyers’ group.

Note: The Guardian reported last year that Berta Cáceres’s murder appeared to be "an extrajudicial killing planned by military intelligence specialists linked to the country’s US-trained special forces". For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in the corporate world.

Amazon has announced that it - along with Warren Buffett’s Berkshire Hathaway and the banking behemoth JPMorgan Chase - will be entering the dominion of health care. Word that Amazon was entering health care immediately depressed the value of old-school health-insurance companies. Anyone who has been a customer of either knows why. The U.S. health care system is the antithesis of Silicon Valley. Grossly inefficient and user-unfriendly, it may be the least transparent enterprise outside the Kremlin - and just as awash in money. The $3.3 trillion that Americans spent on health care in 2016 was close to Germany’s entire GDP that year. It accounted for an astounding 18% of the U.S. gross domestic product - twice the share other developed countries typically spend on health - and produced a return on investment that would get any CEO fired. Life expectancy in the U.S. is actually going down. David Cutler, a health economist at Harvard, made the striking calculation that administration accounts for about a quarter of the cost of health care. He once pointed out that Duke University Hospital had 900 beds and 1,300 billing clerks. If the triad of Amazon, Berkshire Hathaway and JPMorgan Chase can find a way to bring sense to health care, the savings will accrue first for those three companies, which are not acting out of altruism. But ... when the worker reaches a doctor without having to run a gauntlet, the vaunted, disruptive efficiency of tech will have produced a common good.

Note: For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and health.

Over the past decade, nearly 21 million prescription painkillers have been shipped to a tiny town in West Virginia, a state where more people have overdosed on opioids and died than in any other in the nation. 20.8 million hydrocodone and oxycodone pills have been delivered to Williamson, W.Va., a town with ... fewer than 3,200 residents. [House Energy and Commerce] Committee leaders sent letters to two regional drug distributors, asking why the companies oversupplied this town, among others, with painkillers. “These numbers are outrageous,” Reps. Greg Walden (R-Ore.) and Frank Pallone Jr. (D-N.J.) said in a statement. Attorney General Jeff Sessions on Tuesday announced a nationwide crackdown on pharmacies and prescribers that are oversupplying opioids amid a deadly epidemic sweeping the United States. In the letters, dated Jan. 26, the congressional committee noted that between 2006 and 2016, drug distributors shipped large quantities of hydrocodone and oxycodone to two pharmacies in Williamson. During that time, Tug Valley Pharmacy received more than 10.2 million pills and Hurley Drug Company received more than 10.5 million pills. The pharmacies are 0.2 miles apart. The committee said in a letter to distributor Miami-Luken that from 2008 to 2015, the company had supplied more than half of all the prescription pain pills shipped to Tug Valley Pharmacy. And distributor H.D. Smith, the committee said, provided the pharmacies with nearly 5 million pills between 2007 and 2008.

Note: A CBS article titled, "Ex-DEA agent: Opioid crisis fueled by drug industry and Congress" describes major regulatory failures that contributed to this addiction crisis. For more along these lines, see concise summaries of deeply revealing Big Pharma corruption news articles from reliable major media sources.

An obscure American company named Devumi ... has collected millions of dollars in a shadowy global marketplace for social media fraud. Devumi sells Twitter followers and retweets to celebrities, businesses and anyone who wants to appear more popular or exert influence online. Drawing on an estimated stock of at least 3.5 million automated accounts, each sold many times over, the company has provided customers with more than 200 million Twitter followers. The accounts that most resemble real people ... reveal a kind of large-scale social identity theft. At least 55,000 of the accounts use the names, profile pictures, hometowns and other personal details of real Twitter users, including minors. Fake accounts, deployed by governments, criminals and entrepreneurs, now infest social media networks. As many as 48 million of Twitter’s reported active users ... are automated accounts designed to simulate real people. In November, Facebook disclosed ... that it had at least twice as many fake users as it previously estimated. Up to 60 million automated accounts may roam the world’s largest social media platform. Devumi has more than 200,000 customers, including reality television stars, professional athletes, comedians, TED speakers, pastors and models. Devumi’s fake followers also serve as phantom foot soldiers in political battles online. Devumi’s customers include both avid supporters and fervent critics of President Trump, and both liberal cable pundits and a reporter at the alt-right bastion Breitbart.

Note: The use of social media to manipulate public perception has reportedly influenced recent elections in Latin America, the UK, and the US. For more along these lines, see concise summaries of deeply revealing corporate corruption news articles from reliable major media sources.

The New York attorney general, Eric T. Schneiderman, on Saturday opened an investigation into a company that sold millions of fake followers on social media platforms, some of them copying real users’ personal information. The company, Devumi, and its sale of automated followers to a swath of celebrities, sports stars, journalists and politicians, was detailed in a New York Times article published earlier on Saturday. At least 55,000 of its “bot” accounts used names, pictures, hometowns and other details taken from people on Twitter. The real users hailed from every U.S. state, including New York, and dozens of countries. “Impersonation and deception are illegal under New York law,” Mr. Schneiderman wrote. “We’re opening an investigation into Devumi and its apparent sale of bots using stolen identities.” Tens of millions of fake accounts have been deployed to defraud businesses, influence political debates online and attract customers. Social media companies, including Twitter and Facebook, have drawn intense scrutiny for not taking greater steps to weed them out. Mr. Schneiderman ... has brought a series of cases focused on the emerging world of online fraud, impersonation and abuse. In December, he began an investigation into how the Federal Communications Commission was flooded with millions of fake comments on a proposal to scrap so-called net neutrality rules. Many of the comments used names and addresses borrowed from real people, almost always without their knowledge.

Note: The use of social media to manipulate public perception has reportedly influenced recent elections in Latin America, the UK, and the US. For more along these lines, see concise summaries of deeply revealing corporate corruption news articles from reliable major media sources.

According to new research from the University of Southern California and Indiana University, up to 15 percent of Twitter accounts are in fact bots rather than people. Researchers at USC used more than one thousand features to identify bot accounts on Twitter, in categories including friends, tweet content and sentiment, and time between tweets. Using that framework, researchers wrote that "our estimates suggest that between 9% and 15% of active Twitter accounts are bots." Since Twitter currently has 319 million monthly active users, that translates to nearly 48 million bot accounts, using USC's high-end estimate. The report goes on to say that complex bots could have shown up as humans in their model, "making even the 15% figure a conservative estimate." At 15 percent, the evaluation is far greater than Twitter's own estimates. In a filing with the SEC last month, Twitter said that up to 8.5 percent of all active accounts contacted Twitter's servers "…without any discernable additional user-initiated action." USC's researchers ... highlight the benefits of some bots, writing, "many social bots perform useful functions, such as dissemination of news and publications…" But the USC report also points to the downside of bots, saying, "there is a growing record of malicious applications of social bots. Some emulate human behavior to manufacture fake grassroots political support [and] promote terrorist propaganda and recruitment."

Note: The use of social media to manipulate public perception has reportedly influenced recent elections in Latin America, the UK, and the US. For more along these lines, see concise summaries of deeply revealing corporate corruption news articles from reliable major media sources.

Rachael Denhollander had the first word and the last one. A former gymnast who became a lawyer and a coach, Ms. Denhollander told The Indianapolis Star in 2016 that Dr. Lawrence G. Nassar had molested her as a child. She had just read a report in The Star about U.S.A. Gymnastics’ mishandling of sexual misconduct allegations against coaches. But no one had yet spoken up about Dr. Nassar, who molested young athletes for about two decades while pretending the abuse was therapy. The Star soon published an article about the doctor, based on reports from two former gymnasts. One remained anonymous. The other was Rachael Denhollander. In a Michigan courtroom Wednesday, before Dr. Nassar received a prison sentence of 40 to 175 years for multiple counts of criminal sexual misconduct, Ms. Denhollander, 33, spoke again. This time, she was not alone. Over a seven-day sentencing hearing, 155 people had delivered victim impact statements to the court. Ms. Denhollander became the 156th, the final voice in a gathering of survivors who grew stronger by the day. Michigan State and U.S.A. Gymnastics, which made Dr. Nassar its longtime doctor for the national women’s team, were culpable in this case, too, Ms. Denhollander said. She mentioned that Dr. Nassar had used his phony medical treatments on her after four other women had complained about Dr. Nassar to employees in the M.S.U. athletic department.

Note: For more along these lines, see concise summaries of deeply revealing sexual abuse scandal news articles from reliable major media sources.

A noted plant scientist who spent much of his career at Purdue University sent a letter to the USDA informing the agency that he'd discovered a mysterious new disease-causing organism in Monsanto's (MON) genetically engineered Roundup Ready corn and soybeans. Now, that scientist - Don Huber - has written a follow-up letter ... and appears in a videotaped interview where he presents an even scarier picture of the damage he claims Monsanto's herbicide chemical glyphosate (the main ingredient in Roundup) is doing to both plants and the animals who eat them. Use of glyphosate has soared thanks to widespread use of Monsanto's soy and corn seeds, which are genetically modified to survive its effects. The problem with glyphosate, Huber says, is that it effectively "gives a plant AIDS," weakening its defenses and making it more susceptible to pathogens, such as the one his team discovered. The scientists have taken to calling the bug "the electron microscope (EM) organism," since it can only be seen with an electron microscope. Huber claims that the double whammy of weakened defenses and the new EM organism have contributed to "unexplained epidemics" of disease on farms. He's heard from cattle farmers who are struggling because they're experiencing a 15% infertility rate and 35% rate of spontaneous abortions among their herds. When the farmers switch to non-GE soy and corn for feed, the problems decline dramatically.

Note: For more on this important topic, see this article. For more along these lines, see concise summaries of deeply revealing news articles on food system corruption and GMOs.

A reputable-sounding nonprofit organization released a report attacking the organic food industry in April 2014. The 30-page report by Academics Review, described as “a non-profit led by independent academic experts in agriculture and food sciences,” found that consumers were being duped into spending more money for organic food. The [group's] press release ends on this note: “Academics Review has no conflicts-of-interest associated with this publication, and all associated costs for which were paid for using our general funds without any specific donor’ influence or direction.” What was not mentioned in the report, the news release or on the website: Executives for Monsanto Co., the world’s leading purveyor of agrichemicals and genetically engineered seeds, along with key Monsanto allies, engaged in fund raising for Academics Review, collaborated on strategy and even discussed plans to hide industry funding, according to emails obtained by U.S. Right to Know. Jay Byrne, former head of communications at Monsanto ... offered to act as a “commercial vehicle” to help find corporate funding for Academics Review. In March 2016, Monica Eng reported ... on documents showing that Monsanto paid Professor Bruce Chassy more than $57,000 over a 23-month period to travel, write and speak about GMOs - money that was not disclosed to the public. The money was part of at least $5.1 million in undisclosed money Monsanto sent through the University of Illinois Foundation.

Note: Monsanto has reportedly pushed fake science in other circumstances as well. Major lawsuits are beginning to unfold over Monsanto's lies to regulators and the public on the dangers of its products, most notably Roundup. Yet the EPA continues to use industry studies to declare Roundup safe while ignoring independent scientists. For more along these lines, see concise summaries of deeply revealing news articles on food system corruption and health.

Hospital executives have expressed frustration when essential drugs like heart medicines have become scarce, or when prices have skyrocketed. Now, some of the country’s largest hospital systems are taking an aggressive step to combat the problem: They plan to go into the drug business themselves, in a move that appears to be the first on this scale. “This is a shot across the bow of the bad guys,” said Dr. Marc Harrison, the chief executive of Intermountain Healthcare, the ... hospital group that is spearheading the effort. Several major hospital systems, including ... the nation’s largest nonprofit hospital group, plan to form a new nonprofit company, that will provide a number of generic drugs to the hospitals. The Department of Veterans Affairs is also expressing interest in participating. The idea is to directly challenge the host of industry players who have capitalized on certain markets, buying up monopolies of old, off-patent drugs and then sharply raising prices, stoking public outrage and prompting a series of Congressional hearings and federal investigations. The most notorious example is of Martin Shkreli, the former hedge fund manager who raised the price of a decades-old drug, Daraprim, to $750 a tablet in 2015, from $13.50. Hospitals have also struggled to deal with shortages of hundreds of vital drugs over the past decade, ranging from injectable morphine to sodium bicarbonate (the medical form of baking soda), shortfalls that are exacerbated when only one or two manufacturers make the product.

Note: Americans pay the highest prices for medications in the world, and many US government policies appear designed to keep drug prices high. For more along these lines, see concise summaries of deeply revealing Big Pharma profiteering news articles from reliable major media sources.

The Trump administration has waived part of the punishment for five megabanks whose affiliates were convicted and fined for manipulating global interest rates. One of the Trump administration waivers was granted to Deutsche Bank - which is owed at least $130 million by President Donald Trump ... and has also been fined for its role in a Russian money laundering scheme. The waivers were issued in a little-noticed announcement published in the Federal Register. Under laws designed to protect retirement savings, financial firms whose affiliates have been convicted of violating securities statutes are effectively barred from ... managing those savings. However, that punishment can be avoided if the firms manage to secure a special exemption from the U.S. Department of Labor. In late 2016, the Obama administration extended ... one-year waivers to five banks - Citigroup, JPMorgan, Barclays, UBS and Deutsche Bank. Late last month, the Trump administration issued new, longer waivers for those same banks. Leading up to the new waiver for Deustche Bank, Trump’s financial relationship with the firm has prompted allegations of a conflict of interest. In 2016, the Wall Street Journal reported Trump and his companies have received at least $2.5 billion in loans from Deutsche Bank and co-lenders. In 2015, Deutsche Bank pled guilty in the U.S. to wire fraud for its role in the [LIBOR] scandal. Less than two years later ... Deutsche Bank agreed to a $7.2 billion settlement with the Justice Department for misleading investors.

Note: The megabanks again get away with huge manipulations resulting in financial losses for many millions, yet hardly any media focuses on how these banks hardly get a slap on the wrist for their huge criminal offenses. For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in the financial industry.

New York City is taking on the oil industry on two fronts, announcing a lawsuit Wednesday that blames the top five oil companies for contributing to global warming and saying the city will sell off billions in fossil fuel investments from the city's pension funds. Democratic Mayor Bill de Blasio received immediate blowback from some of the companies, while winning praise from environmentalists and others. "We're bringing the fight against climate change straight to the fossil fuel companies that knew about its effects and intentionally misled the public to protect their profits," the mayor said. "As climate change continues to worsen, it's up to the fossil fuel companies whose greed put us in this position to shoulder the cost of making New York safer and more resilient." The city alleges the fossil fuel industry was aware for decades that burning fuel was impacting climate change. The defendants in the city's federal lawsuit are BP, Chevron, ConocoPhillips, Exxon Mobil and Royal Dutch Shell. New York's lawsuit ... follows similar litigation filed by San Francisco, Oakland, and Santa Cruz in California. Also Wednesday, de Blasio and Comptroller Scott Stringer said they intend to divest the city's five pension funds of roughly $5 billion in fossil fuel investments out of its total of $189 billion. The divestment is the largest of any municipality in the U.S. to date. "Safeguarding the retirement of our city's police officers, teachers and firefighters is our top priority, and we believe that their financial future is linked to the sustainability of the planet," Stringer said.

Note: For more along these lines, see concise summaries of deeply revealing climate change news articles from reliable major media sources.

Estonian start-up Taxify is to go head to head with Uber in London’s highly competitive taxi-hailing market. Taxify said it will launch services across London on Tuesday after signing up 3,000 private hire taxi drivers, who have been vetted to ensure they meet local licensing requirements. In London, it enters a crowded market where the city’s famous black cab taxi drivers and private hire taxi firms such as Addison Lee compete with ride-hailing apps including Gett and Hailo, which is now part of Daimler’s MyTaxi. Uber counts 40,000 drivers and has 3 million London users, who take 1 million trips a week. Taxify is a fraction of Uber’s size - being active in just under 25 cities compared to Uber’s presence in nearly 600 cities worldwide - but runs on a lower cost business model, allowing passengers to pay marked-down fares and letting drivers retain a bigger share of the profits. Taxify said on Monday it would take a 15 percent commission on rides booked through its online platform, versus the 20-25 percent Uber charges in London. Taxify also said it will accept cash as well electronic payments from riders, unlike Uber. Uber has struggled over the past year with legal setbacks, workplace harassment scandals, driver protests and bitter disputes among directors.

Note: For more along these lines, see concise summaries of deeply revealing corporate corruption news articles from reliable major media sources.

Television advertisements for prescription drugs ... have been running for 20 years. [Yet] it is not your imagination if you think you are seeing more of them these days. Lots more. 771,368 such ads were shown in 2016 ... an increase of almost 65 percent over 2012. “TV ad spending by pharmaceutical companies has more than doubled in the past four years, making it the second-fastest-growing category on television during that time,” Jon Swallen, Kantar’s chief research officer, said. The ads ... have turned to more serious ailments in the last few years. And when the ads come on, [the] audience is also listening intently to all that can befall them if they take a certain drug. An unexpected side effect of ad agency compliance with the drug administration’s regulation, it turns out, is enhanced credibility. “It’s counterintuitive, but everything in our research suggests that hearing about the risks increases consumers’ belief in the advertising,” said Jeff Rothstein, the chief executive officer of Cult Health, an ad agency that specializes in health care.

Note: 25 years ago drug advertising was illegal, as it was believed drugs should sell themselves on their own merits. Now Big Pharma is raking in profits hand over fist by inundating us with fear-based advertising. For more along these lines, see concise summaries of deeply revealing Big Pharma profiteering news articles from reliable major media sources.

Prices for a cancer drug called lomustine have skyrocketed nearly 1,400 percent since 2013, putting a potentially life-saving treatment out of reach for patients suffering from brain tumors and Hodgkin's lymphoma. Though the 40-year-old medication is no longer protected by patents, no generic version is available. According to the Wall Street Journal, lomustine was sold by Bristol-Myers Squib for years under the brand name CeeNU at a price of about $50 a capsule for the highest dose. The drugmaker sold lomustine in 2013 to a little-known Miami startup called NextSource, which proceeded to hike lomustine's price nine times since. It now charges about $768 per pill for the medication. According to an analysis done for the Journal ... NextSource this year raised prices for the drug, which it rebranded as Gleostine, by 12 percent in November following a 20 percent increase in August. Soaring prices for cancer drugs are a concern for both patients and doctors because financial pressures can lead to delays in seeking treatment that can easily surpass six figures per year. A study published earlier this year in the Journal of Clinical Oncology found prices for 24 patented injectible Medicare Part B drugs rose an average of 18 percent annually over the past eight years on an inflation-adjusted basis. Prices continued to rise even when generic versions of the drug became available.

Note: For more along these lines, see concise summaries of deeply revealing Big Pharma profiteering news articles from reliable major media sources.

Most pharmaceutical companies have sworn off ghostwriting, the practice of writing "research" papers for doctors and then paying them to add their names as authors even when they had little involvement or the results were trivial. Merck (MRK), Forest Labs (FRX), and GlaxoSmithKline (GSK) have all been caught doing it. But what happens to the articles that have been disavowed by companies or discredited by lawyers? Not much, it turns out. They sit inside prestigious online archives of academic material, unretracted, where they look just like real studies with robust results. Ghostwriting doesn't look good in lawsuits, either. Pfizer (PFE) must now pay $9.5 million to a woman who claimed menopause drug Prempro gave her breast cancer; Wyeth - the company that made the drug and was later acquired by Pfizer - commissioned ghostwritten articles about the drug. So it's interesting to note that many of those pay-for-play articles are still sitting in scholarly archives such as PubMed, notching up bibliography references and footnotes, even though they shouldn't be. You can search for more ghostwritten papers here.

Note: Big Pharma giant Merck created a fake medical journal and created a list of doctors to discredit in order to popularize a dangerous drug that may have killed as many as 500,000 people before it was finally recalled. For more along these lines, see concise summaries of deeply revealing pharmaceutical corruption news articles from reliable major media sources.

Baby Boomers are sucking the blood of the young. They are ... after the plasma. In Monterey, California, a new startup has emerged, offering transfusions of human plasma: 1.5 litres a time, pumped in across two days, harvested uniquely from young adults. Ambrosia, the vampiric startup concerned, is run by a 32-year-old doctor called Jesse Karmazin, who bills $8,000 (6,200) a pop for participation in what he has dubbed a study. So far, he has 600 clients, with a median age of 60. The blood is collected from local blood banks, then separated and combined it takes multiple donors to make one package. The idea has become faddish in tech circles. Mike Judges Silicon Valley sitcom recently parodied the notion, with arch-tech guru Gavin Belson relying on a blood boy following him around to donate pints of sticky red at inopportune moments. That fictionalised account may well be based on the real-life adventures of Peter Thiel, the PayPal founder. A 2014 Harvard report ... seems to have kickstarted the present revival of interest in transfusions. There, scientists injecting old mice with the plasma of a younger generation found it improved their memory and their ability to learn. Conversely, injecting old blood into young seemed to knobble the young rodents. The scientific community has rolled its eyes at the trial element of Ambrosia. There is no control group and, with participation costing so much, no one involved is very randomised.

Note: Read more about Silicon Valley billionaire Peter Thiel's investment in this questionable technology. One university researcher has found that many in the European royalty until the end of the 18th century practiced selective cannibalism in the belief if would keep them young. Another article goes into greater depth about the practice some elder members of the wealthy elite taking blood infusions from young people to stay young.

The United States imposed sanctions on 52 people and entities Thursday for alleged human rights violations and corruption, a list that included Maung Maung Soe, a top Burmese general cited for an ongoing deadly crackdown on the Rohingya, a Muslim ethnic group. Maj. Gen. Maung Maung Soe was the chief of the Burmese Army’s Western Command during a crackdown that survivors say involved government soldiers stabbing babies, cutting off the heads of boys, gang-raping girls and burning entire families to death. Maj. Gen. Maung Maung Soe is the first high-level Burmese military official to be named in sanctions. “Today, the United States is taking a strong stand against human rights abuse and corruption globally by shutting these bad actors out of the U.S. financial system,” said Steven Mnuchin, the Treasury secretary. Among others penalized on Thursday was Yahya Jammeh, former president of Gambia. Mr. Jammeh created a terror and assassination squad ... that he used to intimidate, interrogate and kill people who threatened him. Benjamin Bol Mel of South Sudan, Dan Gertler, who did business in the Democratic Republic of Congo, and Mukhtar Hamid Shah of Pakistan were also on the list. The sanctions freeze any assets the individuals or entities hold in the United States and also prevent them from using any American financial institution.

Note: Importantly, billionaire Israeli mine kingpin Dan Gertler is on this list. This revealing article on Gertler in the UK's Guardian shows corruption and abuse leading to very high places. For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in the corporate world.

The US government has imposed sanctions on the Israeli billionaire Dan Gertler, whose African business dealings were exposed in the Paradise Papers, over “hundreds of millions of dollars’ worth of opaque and corrupt mining and oil deals” in the Democratic Republic of the Congo. In a strongly worded statement, the US president ... placed sanctions on 13 people and companies associated with them, declaring a state of “national emergency with respect to serious human rights abuse and corruption around the world”. In November, the Paradise Papers investigation unveiled new details of Gertler’s mining deals in strife-torn but resource-rich DRC, in particular over a $45m loan in shares to one of his companies from the world’s biggest miner, Glencore. In imposing sanctions on Gertler, the US Office of Foreign Assets Control (OFAC) said the Israeli billionaire’s corrupt dealings had deprived the state coffers of DRC of ... more than $1.36bn in revenues from the underpricing of mining assets that were sold to offshore companies linked to Gertler. Gertler’s involvement in the DRC spans nearly two decades. He was cited by a 2001 UN investigation that said he had given the DRC’s then-president $20m to buy weapons to equip his army against rebel groups in exchange for a monopoly on the country’s diamonds, and a 2013 Africa Progress Panel report said a string of mining deals struck by companies linked to him had deprived the country of more than $1.3bn in potential revenue.

Note: Gertler had close ties with Mark Rich, who was once on the FBI's 10 most wanted list only to later be pardoned by Bill Clinton. This revealing article on Gertler in the UK's Guardian shows corruption and abuse leading to very high places. For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in the corporate world.

Important Note: Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.