Featured Assets

Malaysia set to begin biggest 1MDB trial involving ex-PM Najib

Malaysia’s former prime minister, Najib Razak, on Monday faces the biggest of five trials linked to a multi-billion-dollar scam at state fund 1MDB, although lawyers are seeking a delay to allow time for the completion of a previous trial. Najib, who lost a general election last year, has been hit… Read More

Latvian bank that accused central bank head to be wound up: ECB

The Latvian lender which accused the country’s central bank head of corruption is failing and will be shut down, European banking authorities said on Thursday. PNB Banka, one of the smallest lenders under ECB supervision with just 550 million euros of assets, has seen “significant deterioration in its capital situation… Read More

Malaysia files criminal charges against 17 Goldman Sachs executives

Malaysia filed criminal charges on Friday against 17 current and former directors at subsidiaries of Goldman Sachs Group Inc (GS.N) following an investigation into a multi-billion-dollar corruption scandal that led to the demise of state fund 1MDB. The U.S. bank has been under scrutiny for its role in… Read More
9th August 2019
Following the discovery of Bernard Madoff’s multibillion-dollar Ponzi scheme in late 2008, US Treasury Department officials ordered the hedge fund manager’s primary bank, JPMorgan Chase, to determine whether any other clients were violating laws or regulations.   Compliance officers in JPMorgan’s private banking arm subsequently launched a review of… Read More
1st August 2019
A Northern Irish woman accused of having links to paramilitary criminals has been ordered to explain how she bought six properties worth £3.2m. The National Crime Agency said the woman is believed to be associated with criminals involved in paramilitary activity as well as cigarette smuggling gangs and is at… Read More
1st August 2019
The United Kingdom’s Financial Conduct Authority (FCA) finalized a policy statement Wednesday on the kinds of crypto-related products that fall under its regulatory remit. The final guidance, which does not address pending anti-money laundering (AML) obligations for crypto-related firms, clarifies that the FCA has supervisory authority over security tokens, which… Read More
1st August 2019
The signs were there. Jahangir Hajiyev, chairman of the biggest bank in Azerbaijan, and his wife, Zamira, appeared to be living on dirty money. Between 2003 and 2015, the couple spent a fortune in the U.K. They dished out 11.5 million pounds ($14.3 million) for a townhouse in the ritzy… Read More
30th July 2019
John Christensen called Jersey home. A native of the scenic isle off England’s southern coast, he was a government economist with a hillside villa that had views of France. “I was set,” Christensen said last month in an interview at a London cafe. “We had a pretty good lifestyle and… Read More
29th July 2019
Switzerland’s highest court has ruled that historical data about 40,000 UBS (UBSG.S) clients must be handed to French tax authorities in a landmark case that could set a precedent for foreign governments seeking information from Swiss banks. Three of the five judges presiding at the Swiss Supreme Court… Read More
29th July 2019
The Internal Revenue Service is warning more than 10,000 holders of cryptocurrency that they may be subject to penalties for skirting taxes on their virtual investments. The IRS has begun sending letters to taxpayers who potentially failed to report income and pay taxes on cryptocurrency transactions, the agency… Read More
23rd July 2019
Bank executives in Australia may have to wait as long as seven years to receive their bonuses and face a greater emphasis on improving culture and governance, under regulatory proposals spurred by a string of scandals across the financial industry. In other changes, financial measures will account for no more… Read More
19th July 2019
Canadian police on Thursday said they had arrested nine suspected members of a powerful Mafia clan with roots in southern Italy involved in money laundering and illegal gambling in the Toronto area, seizing C$35 million ($26.8 million) in assets, including five Ferraris. Over three days, police raided 48 cafes, businesses… Read More
16th July 2019
It was December 30, 2015, and Russian businesswoman Olga Kurbatova, who founded a successful Moscow-based beverage company called Happyland Corp, was celebrating the New Year with her son when she got an unexpected phone call from the bank that managed her fortune, Credit Suisse. There had been a most unhappy… Read More