The FBI is still in hot pursuit of corporate criminals


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The Federal Bureau of Investigation's 10 most wanted fugitives are prominently displayed on the agency's website.

They include Robert William Fisher, wanted in connection with the killing of his wife and two young children; Semion Mogilevich, a Russian sought for alleged participation in a multimillion-dollar fraud, and Osama bin Laden, suspected in this instance of having a hand in the bombings of the US embassies in Tanzania and Kenya.

"He is left-handed and walks with a cane," the FBI helpfully points out.

The US$27 million (Dh99.1m) reward the FBI is offering for information leading to the arrest of bin Laden may be no more than the annual salary of a top trader.

And while there are no bankers or hedge fund managers on the list, it may be only a matter of time. The agency is now investigating widespread claims of insider trading.

It remained tight-lipped, confirming only that it was executing "court-ordered search warrants". But already the sweep is affecting the share prices of some of the grandest names on the Street, including Goldman Sachs, Morgan Stanley and JPMorgan Chase.

The investigation comes at the instigation of Preet Bharara, the US attorney in Manhattan.

He told reporters he believed illegal insider trading was "rampant" on Wall Street but "also at Main Street companies". It is understood that one of the main focuses is on the flow of information from companies to hedge funds.

How will this play out on Main Street? Taxpayers, forced to bail out Wall Street, will now be facing the prospect that some of the losses were not just unfortunate but were caused by illegality.

Sending in the FBI to root out the villains brings back memories of 1930s, when John Dillinger was America's public enemy number one. After watching Manhattan Melodrama, starring Clark Gable, Dillinger was gunned down by FBI agents.

Today's investigators will be hoping for a similarly successful outcome, if perhaps a little less gruesome.

Zimbabwe v UAE, ODI series

All matches at the Harare Sports Club

  • 1st ODI, Wednesday, April 10
  • 2nd ODI, Friday, April 12
  • 3rd ODI, Sunday, April 14
  • 4th ODI, Sunday, April 16

Squads:

  • UAE: Mohammed Naveed (captain), Rohan Mustafa, Ashfaq Ahmed, Shaiman Anwar, Mohammed Usman, CP Rizwan, Chirag Suri, Mohammed Boota, Ghulam Shabber, Sultan Ahmed, Imran Haider, Amir Hayat, Zahoor Khan, Qadeer Ahmed
  • Zimbabwe: Peter Moor (captain), Solomon Mire, Brian Chari, Regis Chakabva, Sean Williams, Timycen Maruma, Sikandar Raza, Donald Tiripano, Kyle Jarvis, Tendai Chatara, Chris Mpofu, Craig Ervine, Brandon Mavuta, Ainsley Ndlovu, Tony Munyonga, Elton Chigumbura
TEACHERS' PAY - WHAT YOU NEED TO KNOW

Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:

- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools

- average salary across curriculums and skill levels is about Dh10,000, recruiters say

- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance

- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs

- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills

- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month

- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues

The specs

Engine: Four electric motors, one at each wheel

Power: 579hp

Torque: 859Nm

Transmission: Single-speed automatic

Price: From Dh825,900

On sale: Now

Defending champions

World Series: South Africa
Women’s World Series: Australia
Gulf Men’s League: Dubai Exiles
Gulf Men’s Social: Mediclinic Barrelhouse Warriors
Gulf Vets: Jebel Ali Dragons Veterans
Gulf Women: Dubai Sports City Eagles
Gulf Under 19: British School Al Khubairat
Gulf Under 19 Girls: Dubai Exiles
UAE National Schools: Al Safa School
International Invitational: Speranza 22
International Vets: Joining Jack

Where to buy

Limited-edition art prints of The Sofa Series: Sultani can be acquired from Reem El Mutwalli at www.reemelmutwalli.com

What are the main cyber security threats?

Cyber crime - This includes fraud, impersonation, scams and deepfake technology, tactics that are increasingly targeting infrastructure and exploiting human vulnerabilities.
Cyber terrorism - Social media platforms are used to spread radical ideologies, misinformation and disinformation, often with the aim of disrupting critical infrastructure such as power grids.
Cyber warfare - Shaped by geopolitical tension, hostile actors seek to infiltrate and compromise national infrastructure, using one country’s systems as a springboard to launch attacks on others.

UAE currency: the story behind the money in your pockets
Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers