China’s anti-corruption watchdog promises to target overseas funds
29th September 2020
China’s anti-corruption watchdog promises to target overseas funds
China’s top anti-corruption body has said it will step up its efforts to target funds sent overseas by corrupt officials days after the Canada-based singer Wanting Qu demanded justice for her mother, who has been detained for six years on bribery charges. In a Sunday morning post titled Overseas Is… Read More
Something for nothing: Ukrainian oligarch Dmytro Firtash profited from bailout loans
25th September 2020
Something for nothing: Ukrainian oligarch Dmytro Firtash profited from bailout loans
Ukrainian oligarch Dmytro Firtash siphoned off more than $190 million of state loans his bank received in the wake of the global financial crisis, part of which he ploughed into a deal to privatize a titanium manufacturing company, according to leaked documents. Bank filings and details from a criminal investigation… Read More
FinCEN Files: Global banks defy U.S. crackdowns by serving oligarchs, criminals and terrorists
21st September 2020
FinCEN Files: Global banks defy U.S. crackdowns by serving oligarchs, criminals and terrorists
ICIJ — Secret U.S. government documents reveal that JPMorgan Chase, HSBC and other big banks have defied money laundering crackdowns by moving staggering sums of illicit cash for shadowy characters and criminal networks that have spread chaos and undermined democracy around the world. The records show that five global… Read More
How Deutsche Bank Let Dirty Clients Run Rampant
21st September 2020
How Deutsche Bank Let Dirty Clients Run Rampant
BuzzFeed News — When Robert Meltzer, who runs gyms for children in Los Angeles, found that more than $60,000 in payroll taxes — half a year’s worth — had gone missing in 2013, it was too late. When something similar happened to Stanford Media Group, a company that sold CDs… Read More
US moves to seize $330m of alleged 1MDB assets held by UK law firm
18th September 2020
US moves to seize $330m of alleged 1MDB assets held by UK law firm
The US Department of Justice (DoJ) has moved to seize $330m (£256m) held in the bank account of a major London law firm which prosecutors allege is derived from the proceeds of one of the world’s largest financial frauds. The DoJ has filed civil forfeiture proceedings against funds… Read More
Former IAAF president Lamine Diack jailed for taking bribes to cover up Russian doping
18th September 2020
Former IAAF president Lamine Diack jailed for taking bribes to cover up Russian doping
The former president of international athletics has been jailed for two years by a French court after being found guilty of taking millions of pounds in bribes to cover up positive drugs tests by Russian athletes. Lamine Diack, 87, who ran athletics for 16 years until he was succeeded by… Read More
Dutch launch criminal probe, freeze assets of Isabel dos Santos-linked firm
17th September 2020
Dutch launch criminal probe, freeze assets of Isabel dos Santos-linked firm
Dutch prosecutors have begun a criminal investigation into how a company owned by Sindika Dokolo, the husband of billionaire Angolan businesswoman Isabel dos Santos, managed to acquire a lucrative shareholding in the Portuguese oil and gas firm, Galp. The Public Prosecution Service has also frozen the assets of the company,… Read More
Gambia’s former first lady Zineb Jammeh hit with US sanctions
17th September 2020
Gambia’s former first lady Zineb Jammeh hit with US sanctions
Zineb Jammeh, the wife of Gambia’s former president, Yahya Jammeh, has been hit with U.S. sanctions for her role in the economic plunder of the tiny West African county during her husband’s 22-year rule, the U.S. Treasury said on Tuesday. Yahya Jammeh stole at least $50 million of state funds… Read More
U.S. Regulators Prepare to Reprimand Citigroup for Failing to Improve Risk Systems
15th September 2020
U.S. Regulators Prepare to Reprimand Citigroup for Failing to Improve Risk Systems
Federal regulators are preparing to reprimand Citigroup Inc. for failing to improve its risk-management systems—an expansive set of technology and procedures designed to detect problematic transactions, risky trades and anything else that could harm the bank. The expected rebuke from the Office of the Comptroller of the Currency and… Read More
Switzerland agrees terms for returning confiscated Uzbek assets
14th September 2020
Switzerland agrees terms for returning confiscated Uzbek assets
Switzerland has agreed in principle with Uzbekistan on the terms under which assets confiscated as part of a money laundering investigation against Gulnara Karimova, the eldest daughter of the late Uzbek president, will be returned to the central Asian nation. The agreement signed by the two countries will see assets… Read More
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