Global Investigations Review - The law and practice of international investigations


Friday, 31 May 2019

Swiss court rejects former Fifa executive's appeal against ban

Switzerland’s Federal Tribunal has reportedly rejected an appeal by former Fifa executive Jerome Valcke against a 10-year ban from football.

Valcke had reportedly argued that a 2016 Court of Arbitration for Sport (CAS) decision to ban him from “taking part in any football-related activity” was excessive. CAS rejected his appeal against the decision in 2018.

As part of the Federal Tribunal decision, Valcke was ordered to pay $17,900 in court costs and $19,900 to FIFA. FIFA reportedly said it welcomed the decision. 

Valcke is currently under investigation by the Swiss Attorney General’s Office over bribes he allegedly received from Qatari media organisation BeIN Media Group Nasser Al-Khelaifi.

He denies wrongdoing.

Former Pemex CEO charged with money laundering

The former CEO of state oil company Petróleos Mexicanos (Pemex) has been charged with money laundering, local newspaper Reforma reports.

Mexican authorities had previously stated that Emilio Lozoya Austin was charged with receiving bribes in connection with Pemex’s purchase of a fertiliser plant. However, Reforma cites legal documents stating that Lozoya, his sister Gilda Susana Lozoya Austin, and Alonso Ancira Elizondo – the chairman of steelmaking company Altos Hornos de México – are wanted for money laundering.

Mexico’s attorney general’s office was reportedly unable to provide any more details because of due process.

Lozoya has not publicly responded to the allegations against him. Ancira was arrested in Spain on 29 May and denies the charges.

US law firms launch investigations into Metro Bank for alleged securities fraud

Two US class-action law firms have launched investigations on behalf of investors into whether executives at UK bank Metro Bank took part in securities fraud. 

New York-based law firms Levi & Korsinsky and Pomerantz announced separate investigations on 29 May while a third law firm, Glancy Prongay & Murray, headquartered in Los Angeles, announced that it is continuing an investigation it started in May into the same alleged misconduct.

Metro Bank stated in its 2018 annual report in January that an error led to £900 million in loans being misclassified as being less risky than they actually were. The Financial Conduct Authority and the Prudential Regulation Authority are investigating the bank over the matter.

Switzerland launches bribery investigation into Glencore following NGO complaint

Switzerland’s Office of the Attorney General (OAG) has begun investigating “unknown perpetrators” suspected of bribing foreign officials after an NGO filed a complaint in 2017 against commodity trader Glencore, according to Bloomberg.

The OAG reportedly said it opened the investigation earlier in May, which is linked to raw materials and is not focused on specific individuals or Glencore itself. The complaint that led to the investigation was filed by Swiss human rights group Public Eye in December 2017

Glencore has declined to comment on the matter. US authorities, including the Commodity Futures Trading Commission, are currently investigating Glencore for alleged corruption. 

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