Thursday, May 10, 2012

How corrupt Nigerian politician was brought to justice in the UK - CNN.com

How corrupt Nigerian politician was brought to justice in the UK - CNN.com

STORY HIGHLIGHTS
  • Former Governor James Ibori embezzled an estimated $250 million from the people of Delta State
  • He was caught by an investigative unit funded by the same body that delivers aid to Africa
  • Campaigners question the role of British banks in facilitating African corruption

Similar to the story in Toxic Justice, banks have weak regulation, little to no oversight, light penalties, and are allowed the cover of secrecy.  Should bank officials be convicted as well? What should be the tipping point when banks thrive when corrupt officials launder money?