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6th July 2020

Enron legacy returns in battle over $80 million yacht

Almost two decades after the collapse of Enron Corp., a former unit of the energy-trading giant is sparring with U.S. and Nigerian authorities over the proceeds of the sale of a luxury yacht. The dispute pivots on the Galactica Star — a 213-foot vessel once worth more than $80 million. Read More

3rd July 2020

U.S. seeks Warhol, Monet paintings linked to 1MDB scandal

The U.S. Department of Justice on Wednesday said it was looking to recover another $96 million in assets in real estate and artwork linked to the 1Malaysia Development Berhad (1MDB) international money-laundering conspiracy. The assets include luxury real estate in Paris and paintings by Claude Monet and Andy Warhol linked… Read More

2nd July 2020

Vatican police raid Basilica offices in corruption probe

Vatican police on Tuesday raided the office that manages St. Peter’s Basilica, seizing documents and electronic equipment as part of an investigation into possible corruption in procurement practices. The extraordinary raid comes a month after the Vatican published new procurement rules intended to prevent corruption and cut costs. The Holy… Read More

2nd July 2020

Goldman nears 1MDB resolution with effort to avoid guilty plea

Goldman Sachs Group Inc. is in the final stages of resolving its biggest legal threat in a decade after tussling with the government on one critical issue: a potential guilty plea for the first time in Goldman’s history. To avert such a penalty over its work for a Malaysian sovereign… Read More

30th June 2020

Philippines promises ‘thorough’ probe of Wirecard, looking at 3 local payment firms

The Philippines’ anti-money laundering agency on Monday said it would conduct a “swift and thorough” investigation into scandal-hit German payments firm Wirecard AG and that it has drawn up an initial list of people and entities of interest. Wirecard’s collapse last week and admission that $2.1 billion of its cash… Read More

30th June 2020

François Fillon found guilty of embezzling public funds

The former French prime minister François Fillon and his Welsh wife, Penelope, were sentenced to jail on Monday for embezzling public funds as part of a “fake jobs” scandal. A court found the couple guilty of fraud after a trial heard he had paid her and two of… Read More

30th June 2020

Wirecard Scandal Puts Spotlight on Auditor Ernst & Young

Ernst & Young GmbH, auditor to insolvent German fintech company Wirecard AG, had questions related to unorthodox arrangements under which the company’s cash was held in bank accounts it didn’t control as far back as 2016, according to emails seen by The Wall Street Journal. The auditor subsequently signed… Read More

29th June 2020

Oil, gas, and mining corruption: Is it inevitable?

In late January, almost five years after huge oil reserves were discovered off the shore of Guyana, an oil tanker loaded with about 1 million barrels of Liza light sweet crude finally departed the nation. After the three-football-field-long ship docked at Galveston, Texas, the oil went on its… Read More

24th June 2020

Lendy investors demand inquiry into audit ‘failures’

The accounting industry watchdog is being urged to investigate alleged oversights by the auditor of Lendy, the scandal-hit peer-to-peer lender whose collapse has left thousands of investors facing millions of pounds in losses. Representatives of Lendy investors said that the role of Moore Stephens, part of BDO, the international accountancy… Read More

24th June 2020

Venezuela’s Dark Laundering Loop: Saab Nabbed, Bagley Pleads Guilty, Maduro Sweats

Ten days ago, Colombian businessman Alex Saab was arrested in Cape Verde, an island republic off Africa’s west coast, as he was refueling his private jet. Saab is wanted in the U.S. on money-laundering charges involving hundreds of millions of dollars – but his detention in Cape Verde and his… Read More

Must Read

Deloitte fined record £15m over ‘serious and serial failures’ in Autonomy audit

Leaked EU draft proposes all-encompassing laws for crypto assets

US moves to seize $330m of alleged 1MDB assets held by UK law firm

Suspected arms dealers moved millions in Somali money transfers, report says

US imposes sanctions on Iranian intelligence, Hezbollah-linked targets in Lebanon