Belgium

Swiss bank UBS investigated for tax fraud and money laundering

A recent report by the Financial Inspection Agency accused the International Polar Foundation of manipulating its budget. Elke Sleurs, Secretary of State for Scientific Policy, demands clear explanations before agreeing to settle several outstanding bills.

A municipal employee of Mouscron, who in 2013 was accused of embezzling € 650,000, would have also transferred money to other bank accounts.

The Belgian green parties Ecolo and Groen want to ensure transparency in the lucrative business of selling military equipment to the Belgian state, especially in regards to the renewal of the F-16 fighter aircrafts and the intense lobbying accompanying this modernisation. In a law proposal they will request an online transparancy register that would keep track of all types of engagement between lobbyists and persons involved in the military procurement.

The Grand Jury in Brussels declared Wednesday that evidence in the case against six former executives of the Belgian airline Sabena had reached its statute of limitations on November 2001. The alleged fraud involved Sabbel, an offshore subsidiary of Sabena. According to the investigation, between 1995 and 1999, several million euros passed through it and were used to make payments to members of the board, after Sabena went bankrupt.

HSBC Holdings (HSBA.L), JPMorgan (JPM.N) and Credit Agricole (CAGR.PA) will seek to fight European Union charges of rigging financial benchmarks