[LinuxBender]

When RIPE/APNIC/ARIN allocate a range of IPs, there is NOTHING in the terms and conditions that says "you can only use this in this geography"

That is not true, at least not any more. RIPE and ARIN specifically will cancel a companies account and remove their ASN if they announce the allocated CIDR blocks in the wrong region. We can very close to it at a former company. It was an honest mistake that someone was unaware of and it was reverted quickly. I can't speak for APNIC. There are probably people that have done this and not been caught for a while but they are much more vigilant now. I assumed because of a shortage of ipv4 blocks but there are probably other reasons.

Of course anyone can announce any networks but that is a good way to get blocked by peers. It has happened. I remember the PSINet debacle and a handful of others.