Fraud
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Metso sales manager engaged in possible fraud in the Panama Papers
A Metso employee in Russia has apparently stolen money off invoices and run the money through various bank accounts and other firms, finally reaching an offshore company that he had in Panama. According to Yle.fi, Metso and the man have since parted ways. The information was revealed as Yle has continued their coverage on the Finnish individuals and companies that have been previously mentioned in the Panama Papers data leak. The tax haven, Panama, permitted the Russian sales manager working for the automation division of power and process company, to pass the money from the offshore company he owned to Metso and then back to the company in Panama. Thus, the former employee of Metso used a Swiss bank account to pay an invoice to Metso Automation in Finland. The documents from the bank showed that the invoice represented a payment for valves and commissions, and that the valves... Continue reading
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April 14, 2016
Metso sales manager engaged in possible fraud in the Panama Papers
A Metso employee in Russia has apparently stolen money off invoices and run the money through various bank accounts and other firms, finally reaching an offshore company that he had in Panama. According to Yle.fi, Metso and the man have since parted ways. The information was revealed as Yle has continued their coverage on the Finnish individuals and companies that have been previously mentioned in the Panama Papers data leak. The tax haven, Panama, permitted the Russian sales manager working for the automation division of power and process company, to pass the money from the offshore company he owned to Metso and then back to the company in Panama. Thus, the former employee of Metso used a Swiss bank account to pay an invoice to Metso Automation in Finland. The documents from the bank showed that the invoice represented a payment for valves and commissions, and that the valves... Continue reading
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Possible forests fraud in Romania involves IKEA and Harvard
The retail giant IKEA is one of the world’s largest furniture makers, using one percent of the global wood supply each year to make about 100 million pieces of inexpensive, smartly designed furniture sold through its international network of stores. Harvard University is the symbol of American intellectual and political power – producing eight US presidents and many of the leaders of American industry. But for the past year, Harvard has been sitting in Romanian courts trying to keep control of national forests they bought. The state says Harvard bought some of its land from a group of figures that are under investigation for cheating the state. Subsequently, IKEA bought the same forests from offshores controlled by Harvard’s investment fund. To say these two global brands may have been duped may not be accurate. Unlike IKEA’s furniture, these deals are turning out to be... Continue reading
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April 14, 2016
Metso sales manager engaged in possible fraud in the Panama Papers
A Metso employee in Russia has apparently stolen money off invoices and run the money through various bank accounts and other firms, finally reaching an offshore company that he had in Panama. According to Yle.fi, Metso and the man have since parted ways. The information was revealed as Yle has continued their coverage on the Finnish individuals and companies that have been previously mentioned in the Panama Papers data leak. The tax haven, Panama, permitted the Russian sales manager working for the automation division of power and process company, to pass the money from the offshore company he owned to Metso and then back to the company in Panama. Thus, the former employee of Metso used a Swiss bank account to pay an invoice to Metso Automation in Finland. The documents from the bank showed that the invoice represented a payment for valves and commissions, and that the valves... Continue reading
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Metso sales manager engaged in possible fraud in the Panama Papers
A Metso employee in Russia has apparently stolen money off invoices and run the money through various bank accounts and other firms, finally reaching an offshore company that he had in Panama. According to Yle.fi, Metso and the man have since parted ways. The information was revealed as Yle has continued their coverage on the Finnish individuals and companies that have been previously mentioned in the Panama Papers data leak. The tax haven, Panama, permitted the Russian sales manager working for the automation division of power and process company, to pass the money from the offshore company he owned to Metso and then back to the company in Panama. Thus, the former employee of Metso used a Swiss bank account to pay an invoice to Metso Automation in Finland. The documents from the bank showed that the invoice represented a payment for valves and commissions, and that the valves... Continue reading