A former chief executive officer of one of the world's largest makers of red-light traffic cameras was indicted on federal corruption charges Wednesday, along with two city officials in Chicago.
Corruption is a big problem around the world, but perhaps nowhere more than in African dictatorships. Proof? Despite living in one of the wealthiest countries on the African continent, the citizens of Equatorial Guinea live in abject poverty. Clean drinking water is available to less than half the populace, and one in five children is dead before their fifth birthday.
We're not sure what's more amusing about this story, the obvious and clichéd abuse of power or the retro charm of dialing the wrong fax number. C'mon, who even faxes anymore? We've gotten so used to people getting busted by accidentally e-mailing everyone in their address book or slipping up on Facebook that we almost feel sorry for the clerk in question, entangled by '90s technology. Almost.
Wards Auto is reporting that China is attempting to put a stop to rampant corruption by its government officials, especially when it comes to automotive purchases and embezzling. The People's Republic currently spends somewhere between $46.5 billion and $62.1 billion at current conversion rates maintaining its fleet of 3 million official vehicles. Those figures mark between 6 and 12 percent of the government's total costs. According to Wards, 464,000 of the 4 million vehicles registered in China
As Captain Renault would have said "Shocked, I'm Shocked!" to learn that government officials involved in regulating the oil industry were being accused of corruption. Thirteen employees of the Department of Interior that handle the money that oil companies pay in royalties for drilling on federal lands are thought to have accepted gifts, consulting jobs and sex in exchange for rigging contracts. The employees working in Denver and Washington were responsible for handling "in-kind" royalty payme
India's Blueline buses have killed over 100 people so far this year, giving rise to a newspaper nickname: "killer buses." Traffic accident rates in India are the second worse in the world (China is #1 with 600 deaths a day) but Indian buses are getting attention because they are on top of the traffic pecking order: pedestrians are the lowest, then bikers and cars, then buses that don't signal lane changes and only stop for cows, a sacred animal for many Indians.
Hyundai chairman Chung Mong-koo put up bail to the tune of $1 million last week to be freed from jail after being imprisoned for two months on corruption charges that involved using company funds for personal and political use. The 68-year-old executive, who showed up to court appearances in a wheel chair, pleaded with the court via his lawyers citing his detiorating health, a major Korean automaker that would be lost without him, and the fact that he has already admitted guilt as reasons that h
As part of an act of contrition for the bribery scandal rocking Hyundai Motor Group, the company is donating $1.05 billion dollars to charity. The word came Wednesday as Hyundai vice chairman Lee Jeon-kap issued a formal apology for the corporate malfeasance currently under investigation.