Hello there. Welcome back to Emlex's weekly podcast covering the top regulatory stories of the moment. I'm James Panicki, senior editor with Emlex's Asia Pacific team, it's great to be with you again.

Now, this week, fraud and money laundering are the name of the game.

Although, as we'll hear in about 10 minutes' time, proving fraud against individuals has

become something of a challenge for prosecutors in London.

The serious fraud office has seen its case against managers of the global UK-based

public service provision company Serco collapse recently, and it's an important story because the

SFO's failure to secure the conviction of individuals may have an impact on the deterrence

value of existing laws. Emlex's correspondents, Martin Coyle and Annie Robertson, have been in and out of virtual court

since the end of March, and we'll discuss the case with them soon.

First up, though, we're off to Barbados, where the small-time case of a bribed local official

has been taken on by prosecutors in the United States and has

culminated in the conviction of a former Barbados minister. What's going on? I hear you ask. Why would

US federal prosecutors take an interest in a few thousand dollars of bribes that have been paid

in a sovereign Caribbean state? M-Mex's New York correspondent, Richard Vanderford,

has been grappling with these very issues, and he joins us now.

Richard, firstly, just tell us something about Donville Innes.

Who is he, and what did he do?

Donville Innes, he's a citizen of Barbados.

He was an elected member of Parliament there, and he was in the cabinet there as Minister of Innes, he's a citizen of Barbados. He was an elected member of parliament there,

and he was in the cabinet there as Minister of Industry. And what he did was he took bribes

from the Insurance Corporation of Barbados Limited ICBL to use his influence to award ICBL,

relatively small contracts, to ensure government assets. He took

...