17th February 2020
A $35 million fraud and money-laundering scandal that ensnared Newsweek magazine and a small, California bible college wrapped up Friday with guilty pleas from two executives who had helped mastermind the scheme. Etienne Uzac, former co-owner of IBT Media, which owned Newsweek; and William Anderson, former CEO of Christian… Read More
14th February 2020
Sitting in the gloom of his housing commission apartment amid a smell of stale cigarettes and motor oil, you would not know Rod Jackson was a director of more than two dozen companies. Then again, neither would he. “They’ve really stuck me in the shit, haven’t they?” Mr Jackson croaks… Read More
12th February 2020
Former Indian billionaire Vijay Mallya returned to a London court to fight extradition to his home country to face fraud and money-laundering charges. The tycoon’s lawyers said at a hearing Tuesday that a previous ruling to send him back to India ignored evidence and simply misunderstood the circumstances that ultimately… Read More
10th February 2020
A German businessman charged with evading U.S. taxes as part of an investigation sparked by a trove of leaked documents known as the Panama Papers will plead guilty, federal prosecutors said. Harald Joachim von der Goltz, a former U.S. resident who was indicted along with three others in 2018… Read More
10th February 2020
Seo Jin-ho, a travel-agency operator in South Korea, wasn’t interested in exotic investments when a colleague first introduced him to PlusToken, a platform that traded bitcoin and other cryptocurrencies. But the colleague was persistent. “You won’t regret this,” she said, according to Mr. Seo. She visited him several times early… Read More
10th February 2020
The lack of requirements to disclose a company’s beneficial ownership information is one of the top vulnerabilities in the U.S. financial system, the U.S. Treasury Department said in a new report. The report, published Thursday by the Treasury’s Office of Terrorist Financing and Financial Crimes, identified several emerging threats and… Read More
7th February 2020
A 31-year-old man has been charged over an $11 million cyber fraud in which he allegedly obtained the financial profiles and identities of more than 80 people to create fraudulent bank accounts and steal from their savings and superannuation accounts. Adam Jones, originally from South Australia, was arrested at a… Read More
7th February 2020
Late last year, the UK Supreme Court ruled that a London investment bank was liable for the loss of $204 million from a corporate account after the institution complied with authorised payment instructions from the company’s director.  The ruling, which imposed a $153 million penalty against the bank,… Read More
6th February 2020
Two brothers from a Belgian gold refinery have been found guilty by a court in Antwerp of money laundering and fraud and given 18-month suspended jail sentences, a court ruling showed. The judgment comes as investigators and states increase pressure on refineries to make sure illegally mined or traded gold… Read More
6th February 2020
Compliance officers in the financial services industry face “unnecessary risks” that undermine effectiveness and regulatory goals, according to a new report by the Compliance Committee of the New York City Bar Association, which explored ways in which the compliance community and regulatory agencies can better achieve their shared goals. Read More