Global Investigations Review - The law and practice of international investigations

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Friday, 12 April 2019

Brazilian police raid state-owned power company

Brazilian police have reportedly raided the headquarters of state-owned power company Companhia Energetica de Minas Gerais (Cemig) in an investigation into a $10.5 million embezzlement scheme in two of the company’s subsidiaries.

The case also concerns a complicated money laundering scheme, Brazil’s internal revenue service reportedly said on 12 April. Up to six people reportedly benefitted from the embezzlement scheme.

Police reportedly seized documents and computers. Cemig does not appear to have commented on the matter. 

Ukraine launches long-awaited anti-corruption court

Ukraine President Petro Poroshenko opened the long-awaited High Anti-Corruption Court (HACC) on April 11 and appointed 38 judges, according to reports.

Ukraine’s parliament adopted the law, submitted by the president, to establish the HACC as a permanently functioning specialised court in June 2018.

The court will have 27 judges in the HACC and 12 in its appeals chamber.

Ukraine’s establishment of an independent anti-corruption court was a condition of receiving $2 billion in aid from the IMF as part of a $17.5 billion aid package.

EY and KPMG reported to Danish police

The Danish Business Authority asked Denmark’s Public Prosecutor for Special Economic and International Crime to initiate a police investigation on 12 April into whether auditors EY and KPMG violated money laundering laws.

The authority has asked for an investigation to be launched into Ernst & Young over its auditing of Danske bank’s accounts for 2014 after the bank's internal investigation revealed acute compliance failures that enabled unverified customers to transfer up to €200 billion out of the bank’s Estonia unit.

Meanwhile, KPMG has been reported for its audit of the 2017 audit report for Kobenhavns Andelskasse, a local bank that was shuttered in 2018 amid concerns it was systematically used for money laundering.

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