Billions of dollars stolen from citizens are circling the globe,
enriching powerful individuals, altering political outcomes, and
disadvantaging everyday people. News headlines provide glimpses of
how this corruption works and why it matters: President Trump's
businesses struck deals with oligarchs and sold property to
secretive shell companies; the Panama Papers leak triggered
investigations in 79 countries; and, corruption scandals toppled
heads of state in Brazil, South Africa, and South Korea. But how do
these pieces fit together? And if the corruption is so vast and so
tied up with powerful interests, how do we begin to fight back? To
find answers, Crude Intentions examines the corruption crisis that
erupted during the recent oil boom. From 2008 to 2014, oil prices
shot through the roof. Motivated by more than nine trillion dollars
in new oil money, corruption followed apace. Examining the oil boom
is like placing a drop of dye in the circulatory system of global
corruption, and watching as it reveals the system's channels and
pathways. Company bosses signed off on risky schemes to snap up
choice oil blocks. Politicians in Brazil and Nigeria stole billions
to build up their election war chests. Kleptocrats in Angola,
Azerbaijan, and Russia seized upon the oil wealth to cement their
hold on power. And an army of bankers, accountants, and lawyers
lined up to help these corrupt actors stash their loot in the
global system of shell companies and tax havens that serves today's
super-rich. The money then bought yachts, mansions, and even a few
foreign politicians. Drawing on information exposed by intrepid
journalists, prosecutors, and whistle blowers, Crude Intentions
tells jaw-dropping stories of corruption and asks what we can learn
from them. The cases reveal common tactics, but also
vulnerabilities in this web of fraud. These are the starting points
for building a smarter fight against corruption, in the oil sector
and well beyond.
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