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Here is a list of reported corruption scandals in Zimbabwe since 1980: 1987 – Zisco Steel blast Furnace Scandal; 1987 – Air Zimbabwe Fokker Plane Scandal – $100 million; 1986 – National Railways Housing Scandal; 1988 – Willowgate Scandal; 1989 – ZRP Santana Scandal; 1994 – War Victims Compensation Scandal; 1995 – GMB Grain Scandal
Financial institution that went bust following the Keating Five scandal. Polly Peck: United Kingdom: 30 Oct 1990: Electronics, food, textiles: After a raid by the UK Serious Fraud Office in September 1990, the share price collapsed. The CEO Asil Nadir was convicted of stealing the company's money. Bank of Credit & Commerce International: United ...
The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, also known as the Banking Royal Commission and the Hayne Royal Commission, was a royal commission established on 14 December 2017 by the Australian government pursuant to the Royal Commissions Act 1902 to inquire into and report on misconduct in the banking, superannuation, and financial ...
Willowgate was a 1988–89 political scandal in Zimbabwe involving the illegal resale of automobile purchases by various government officials, uncovered by The Bulawayo Chronicle. The ensuing investigation resulted in the resignations of five members of President Robert Mugabe 's cabinet.
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Normalized per institution or by assets held, FSLIC-insured institutions' supervisory resources were stretched. [25] However, Gray's position reversed after the fraud-induced failure of Texas-based Empire Savings and Loan: he spent the next two years increasing examination resources and tightening financial regulations.
Royal Bank was a small privately owned financial institution and financial services provider in Zimbabwe. As of June 2010, the shareholder's equity in the bank was estimated at US$12.5 million, the minimum capital requirement for a commercial bank in Zimbabwe. [3]
Bank fraud is the use of potentially illegal means to obtain money, assets, or other property owned or held by a financial institution, or to obtain money from depositors by fraudulently posing as a bank or other financial institution. [1] In many instances, bank fraud is a criminal offence.