#White collar crime:

Scandal regarding Malaysian Fund 1MDB: Edmond de Rothschild Bank Convicted in Luxembourg

On 22 May, Edmond de Rothschild Bank was convicted in Luxembourg for money laundering and concealment in the case of the Malaysian sovereign wealth fund 1MDB and was sentenced to a confiscation of €25 million. This is the first conviction of a Luxembourg bank for such offenses. The investigation uncovered complex financial circuits involving tax havens, through which funds embezzled from 1MDB between 2009 and 2013 were routed before being deposited into bank accounts of various companies opened at the Luxembourg bank by a UAE national. Separately, the investigation into the Emirati national is continuing, while an indictment has been issued against several executives and employees of the bank, with a view to referring them to trial. > Read article

#European Arrest Warrant, Extradition & Interpol:

80 arrests and more than 37,700 cultural goods seized in major art trafficking bust

Operation “Pandora IX”, carried out in 2024 by 23 countries, dismantled several trafficking networks of cultural goods looted from protected sites, particularly in Spain, Italy, and Greece, resulting in the arrest of 80 people and the seizure of over 37,700 cultural items, including archaeological pieces, artworks, coins, musical instruments, and various other artifacts. Coordinated by Spain, the operation was supported by Interpol, which provided access to its “Stolen Works of Art database”, Europol, which facilitated information exchange and analytical support, and the World Customs Organization. Cyber patrols also uncovered illegal online sales, resulting in the seizure of an additional 4,298 items. In total, 258 cases were reported by the participating countries. > Read article

#Dispute resolution & regulatory investigations:

French “High Authority for Public Life Transparency” 2024 Activity Report

Jean Maïa, Chairman of the French High Authority for Public Life Transparency (HATVP), presented the institution’s activity report for 2024. The report notes a general increase in control activities following declarations by public officials and control of mobility between the public and private sectors, pointing to a record number of referrals this year. It also contains several proposals to develop the HATVP’s missions in all its areas of competence, in particular with regards to the reform of the rules governing the representation of interests, for which the HATVP is calling for an extension of its remit. > Read article

Shein: two associations refer the Chinese website to the HATVP to warn against lobbying

Two NGOs, Friends of Earth (“Les Amis de la Terre”) and the Observatory of multinationals (“L’Observatoire des multinationales”), have reported to the High Authority for Transparency in Public Life (HATVP) their suspicions of irregularities due to vague or missing information in the declarations of interest representation activities of the Shein group for the years 2023 and 2024, and in particular that completed by Christophe Castaner, former Minister of the Interior. The NGOs consider that the work carried out by the former minister is akin to lobbying activities and are therefore asking the HATVP to investigate these declarations. Both Shein and Christophe Castaner have issued statements refuting these accusations. > Read article