PEP ALERT ...INTERIOR MINISTER STEPS DOWN

Bulgaria's Interior Minister Rumen Petkov (UID 36394) has resigned from office amid a growing corruption scandal involving members of the Interior Ministry and organised crime. It is reported that high ranking ministry officials had routinely tipped off criminals that they were under investigation. The Ministry's chief secretary Illiya Iliev (UID 364084) stepped down after the recent 'mafia style killings' of two high profile individuals. A Bulgarian newspaper report also links the Ministry to an alleged Serbian drug trafficker Budmir Kujovic (UID 774780) The World-Check research analysts will be monitoring the story as it develops and updating profiles as more information emerges.

Samuel Israel (UID 355057) co-founder of the hedge fund the Bayou Group has been sentenced to twenty years behind bars for bilking investors out of millions of dollars. Israel was ordered to pay $300 million in restitution. Israel is the last of three Bayou executives to be sentenced. In January 2008 the chief financial officer Daniel Marino (UID 358654 ) was sentenced to 20 years and co-founder James Marquez (UID 544416) to just over four years, plus a period of supervised release and he was ordered to pay restitution of US$6.26 million. To read the full story behind their multi-million dollar fraud check out the verification hyperlinks on Israel's profile.

COLOMBIA COURT BLOCKS EXTRADITION OF FORMER AUC COMMANDER

Carlos Marion Jimenez (UID 246092) aka Macaco the former commander of the paramilitary group United Self-Defence Forces of Colombia - AUC (UID 14174) is already serving a sentence in a Colombian jail whilst the US seeks his extradition. This month a Colombian Court temporarily halted his extradition whilst it decides whether Jimenez should complete his sentence in Colombia. Colombian authorities have accused Jimenez of running his narcotics trafficking and paramilitary enterprise from prison. In February this year the United States Office of Foreign Assets Control (OFAC) designated Jimenez a Specially Designated Narcotics Trafficker and his assets have been frozen. The US authorities are keen for him to face charges within their justice system, on counts of drug trafficking, money laundering and financing terrorist groups. Check out his network by using the unique Display Graph on his profile and print it out for your records.

UK SENTENCED FOUR FOR DRUG SMUGGLING

This month four London individuals were jailed for attempting to smuggle cocaine into the United Kingdom. Barry Hearn (UID 845750) and Jose Perdomo (UID 845749) who had pleaded guilty to one count of smuggling, were sentenced to eight years and twelve years respectively. Two others Bimal Puri (UID 845752) and Glenn Clark (UID 845751) were convicted of the charge by a jury and they both received sentences of fifteen years. One further individual Kevin Hanley (UID 845753) is still at large and is wanted in connection with the crime.

The Asset Manager's Committee to the President's Working Group on Financial Markets has released its recommendation on "Best Practices for the Hedge Fund Industry." The white paper includes sections on compliance, conflicts and business practices, the culture of compliance, the compliance manual, record-keeping, training, the chief compliance officer, discipline and sanctions, and the annual compliance review. There is also a major section on all aspects of risk management. …read more

Muzaffer Ayata (UID 556790) a leading member of Kurdish Workers' Party - PKK (UID 1734) has been convicted and sentenced by a German Court to three years and five months in jail. Ayata was convicted of membership of a terrorist organisation. The PKK has been designated a terrorist organisation by the European Union and other international sanctioning bodies. Ayata was reportedly in charge of the group's southern Germany area.

This month a civil case is being heard in Belfast brought by the families of victims of the 1998 Omagh bombings. The £14 million case names Michael McKevitt (UID 36677), Liam Campbell (UID 36678), Seamus McKenna (UID 261160), Seamus Daly (UID 261159) and Colm Murphy (UID 60735) as the alleged perpetrators of the atrocity which killed 29 people. The case will transfer from the High Court in Belfast to the Supreme Court in Dublin to hear evidence from police in the Republic. Check out the accused profiles to see their current status and read more about the case in the verification hyperlinks on the profiles.

Afghan officials have reported that they have captured a senior Taliban commander in Kandahar. Allegedly Mullah Abdul Jabar (UID 839177) was on his way to Pakistan when he was detained. Jabar is purportedly second in command to Mansoor Dadullah (UID 734719) who was arrested two months ago. The Defence Ministry statement referred to Jabar as having "had a significant role in terrorist activities after Dadullah.”

Omar Mahmoud Uthman (UID 38714) often referred to as Abu Qatada has recently won his appeal against deportation from the United Kingdom to Jordan. Uthman has been convicted in absentia in Jordan. He is alleged to be Osama bin Laden's right hand man in Europe. Although his appeal was successful he remains in jail. Uthman appears on numerous government and enforcement watch lists and is an OFAC Specially Designated Global Terrorist. The World-Check database includes all the major sanction and watch listed individuals and entities and these profiles are key worded for your convenience.

World-Check has announced the beta-launch of Country-Check, a premier risk ranking index for overall country risk. Read the full press release or visit the Country-Check site here.

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