Featured Embezzlement

Ex-Coutts Banker on Trial Over $700 Million Transfer From 1MDB to Jho Low

A decade after billions of dollars were wired to Swiss banks, the country is holding its first trial into whether a local banker failed to stop a $700 million transfer into an account controlled by Low Taek Jho, the alleged mastermind behind the 1MDB scandal. The compliance officer, who can… Read More

Not So Green On The Other Side: How A Russian Tycoon’s Big U.S. Cannabis Bet Went Up In Smoke

When the authorities in Plumas County, California, inspected a new commercial hemp plantation in April 2019, they were so alarmed by what they found that they sought to impose a temporary moratorium on the emerging industry in unincorporated local towns. Greeted at the property by two armed guards with… Read More

Shelter-in-Place Orders Pose Challenges for Government Probes

The novel coronavirus could slow investigations into corporate wrongdoing by prosecutors, regulators and federal agents as shelter-in-place orders and other restrictions force delays to crucial steps in their work. Some investigative activities, including ones requiring travel or face-to-face meetings, are taking more time, and that could raise concerns for time-sensitive… Read More
20th May 2020
One of Ukraine’s wealthiest oligarchs, whose name emerged in the center of the Trump impeachment saga, is under investigation by a US federal grand jury for allegedly laundering hundreds of millions of dollars in US real estate, BuzzFeed News has learned. Billionaire Igor Kolomoisky is accused by Ukraine regulators of… Read More
20th May 2020
Riza Aziz, the stepson of former Malaysian prime minister Najib Razak, has agreed to testify against the ex-premier in a trial linked to a multibillion-dollar fraud at state fund 1Malaysia Development Berhad (1MDB), prosecutors said on Tuesday. The announcement comes days after a Malaysian court agreed to drop a $248-million… Read More
20th May 2020
Jordan has come first in a list of countries that appear to have siphoned huge amounts of foreign aid into offshore bank accounts. The resource-poor Middle Eastern country, which is hosting about two million Syrian refugees, received £2.13 billion in foreign aid in 2018-19 including £110 million from Britain,… Read More
19th May 2020
Moldova’s General Prosecutor, Alexandr Stoianoglo, on Monday said the fugitive tycoon Vlad Plahotniuc, the former leader of the Democratic Party, PD, had illegally got hold of 100 million US dollars from the banking system. He added that Plahotniuc was helped in this action by a group of companies belonging to… Read More
19th May 2020
There are strong indications that the Federal Government will file fresh charges against former Petroleum Minister, Diezani Allison-Madueke, bordering on alleged money laundering, illicit oil deals and other transactions connected to Process and Industrial Development (P&ID). A top official of the Federal Ministry of Justice told Daily Sun that the… Read More
18th May 2020
AP — Malaysia’s former attorney-general said Monday that when prosecutors dropped money-laundering charges against “The Wolf of Wall Street” producer and stepson of ex-Prime Minister Najib Razak they gave him a “sweetheart deal” that is “terrible for Malaysia.” Former Attorney-General Tommy Thomas disputed statements by his successor and the country’s… Read More
18th May 2020
They were hailed as geniuses for transforming the fortunes of a Russian bank facing ruin, with a little help from the Hollywood actor Bruce Willis. The resulting wealth helped to fund a life of luxury in England for Ilya Yurov and Nikolay Fetisov, complete with country mansions, London pieds-à-terre, holiday… Read More
14th May 2020
Riza Aziz, one of the producers of “The Wolf of Wall Street” movie and stepson to Malaysia’s former leader Najib Razak, reached a settlement on Malaysia charges linked to 1MDB. He was discharged not amounting to acquittal on Thursday after reaching an agreement with the government, said Deputy Public Prosecutor… Read More
13th May 2020
Angolan billionaire Isabel dos Santos called on Tuesday for a corruption case against her to be dropped, accusing Angolan authorities of using forged documents including a bogus passport to get courts to seize her assets. Angolan authorities seized the accounts of dos Santos and her husband Sindika Dokolo late last… Read More
12th May 2020
Falcon Private Bank signalled its winding down on Monday, as the Swiss wealth manager involved in Malaysia’s 1MDB scandal said it was in advanced talks to transfer clients to another Swiss bank and exit private banking activities. “We have concluded that, especially in the current environment, the controlled cessation of… Read More