Jets, Horses and Bribes: How a Venezuelan Official Became a Billionaire as His Country Crumbled

The opulent lifestyle of the Andrade family was as spectacular as the economic collapse of the country they left behind.

Venezuelan immigrants, the family lived in a mansion in Florida surrounded by show horses, as neighbors peeked over the property line in awe. The family patriarch, Alejandro Andrade, had been a bodyguard of President Hugo Chávez before rising to powerful positions in his government.

This month, Mr. Andrade will be known for something else: On Nov. 27, he is expected to be sentenced for taking bribes as Venezuela’s treasurer, in a money-laundering scheme that made him a billionaire. read more »

Nissan crisis sheds new light on Japan Inc’s awkward secrets

The fall of Carlos Ghosn is the just latest in a series of shocks involving some of the country’s biggest companies

Even as Carlos Ghosn sits alone in a tiny cell, with just 30 minutes of daily exercise to break the monotony of detention, Japan has found it hard to muster a shred of sympathy for a man hailed as a colossus of the global car industry until his rapid downfall just five days ago.

But however badly the affair reflects on the former chairman of Nissan as a business leader, his arrest last week over allegations of “significant financial misconduct” raises equally serious questions about the health of Japan’s corporate culture. read more »

Citigroup, JPMorgan to pay $182.5 million to settle rate-rigging lawsuit

Citigroup Inc and JPMorgan Chase & Co will pay $182.5 million to settle U.S. investor litigation claiming they violated antitrust law by conspiring with other banks to rig a key European interest rate benchmark. read more »