5th July 2019
AP — Malaysia’s anti-graft agency said Thursday it has detained Riza Aziz, the stepson of former Prime Minister Najib Razak and a Hollywood film producer, and will charge him with money laundering. Anti-Corruption Commission chief Latheefa Koya said Riza was picked up Thursday but has been released on bail. “He… Read More
4th July 2019
Hong Kong’s financial regulator has banned former Goldman Sachs (GS.N) banker Tim Leissner from re-entering the industry for life for his crimes linked to the multi-billion-dollar scandal at the Malaysian state investment fund 1MDB. The sanction is latest for Leissner who has already been barred from the banking… Read More
26th June 2019
Attorneys for the government of Azerbaijan on Monday accused the wife of an imprisoned Azeri banker of knowingly spending £16 million in illicit funds at Harrods and other luxury retailers, according to Bloomberg. The allegations came as part of a hearing in London seeking Zamira Hajiyeva’s extradition to the South… Read More
25th June 2019
By Naomi Roht-Arriaza, University of California, Hastings The two winners in Guatemala’s June 16 presidential vote – former first lady Sandra Torres and former prison director Alejandro Giammattei – will face off in a second round of voting in August. But already one election loser is clear:… Read More
24th June 2019
AP — Malaysia’s anti-graft agency said Friday it has begun legal action to seek forfeiture and recovery of 270 million ringgit ($65.1 million) embezzled from the 1MDB investment fund. Officials estimated that another $5 billion worth in assets abroad linked to the fund could be recovered. Latheefa Koya, the new… Read More
20th June 2019
British financial institutions are filing high volumes of low-quality suspicious activity reports (SARs) and are in need of further guidance on their compliance obligations, according to a report published Tuesday by the Law Commission. The study, which was conducted at the behest of the UK Home Office, concluded that only… Read More
18th June 2019
Two individuals accused of playing prominent roles in the sprawling 1Malaysia Development Bhd. scandal have been convicted of financial crimes in Abu Dhabi, The Wall Street Journal reported Sunday. The Abu Dhabi Criminal Court sentenced Khadem al Qubaisi, a United Arab Emirates citizen who previously headed the International Petroleum Investment Company… Read More
17th June 2019
Some Hong Kong tycoons have started moving personal wealth offshore as concern deepens over a local government plan to allow extraditions of suspects to face trial in China for the first time, according to financial advisers, bankers and lawyers familiar with such transactions. One tycoon, who considers himself potentially politically… Read More
13th June 2019
Shares in Indiabulls Housing Finance Ltd plummeted as much as 8.8% on Tuesday even as the mortgage lender and its top management moved to quash allegations of financial misconduct and money laundering within the company. A criminal writ petition filed on Monday in India’s Supreme Court alleged that about 980… Read More
12th June 2019
It is one of the most ambitious anti-money laundering (AML) bills presented to the US Congress in years, though its greater distinction may be that it arrives with something harder to come by than ambition on Capitol Hill: bipartisan support from well-placed lawmakers. Four members of the Senate Banking Committee—Sens. Read More