Featured Enforcement

John McAfee charged with fraud over alleged cryptocurrency scheme

John McAfee, the antivirus software pioneer whose former company still bears his name, has been indicted on fraud and money laundering conspiracy charges stemming from two cryptocurrency schemes, the US Department of Justice said on Friday. Authorities accused McAfee and his bodyguard, Jimmy Gale Watson Jr, of exploiting McAfee’s large… Read More

Plots of Amazon Rainforest Illegally Sold on Facebook

A new investigation has revealed how large swathes of Brazil’s Amazon rainforest are being illegally sold on Facebook, with some listings advertising plots as large as 1,000 football fields. The plots being sold include national forests and indigenous reserves, and most of the ads came from the northern state of… Read More

Jersey trust company fined $835,000 for opening ‘gateway to possible money laundering’ in Angola

By Will Fitzgibbon, ICIJ, 4 March 2021 ICIJ — A court in the Channel Islands has fined a team of accountants and economists who for years ignored “obvious” risks of possible corruption and embezzlement when providing services to an investment management company working with the government… Read More
5th March 2021
Just over two years ago, UBS Group AG got a nasty shock when a Paris judge handed it a record $5.4 billion penalty for helping French clients avoid taxes. As the Swiss bank returns to the French capital on Monday for a three-week long appeal, its team of lawyers… Read More
5th March 2021
The U.S. is considering sanctions against Lebanon’s long-serving central bank chief as a broader investigation into the alleged embezzlement of public funds in the country gathers pace, according to four people familiar with the matter. Officials within the Biden administration have discussed the possibility of coordinated measures with their European… Read More
5th March 2021
More than HK$900 million (US$116 million) in suspected crime proceeds has been frozen in an unprecedented joint crackdown by Hong Kong police and stock regulators against so-called “ramp and dump” online investment scams, the Post has learned. Twelve Hongkongers – seven men and five women – were arrested over the… Read More
4th March 2021
The United States says it is “deeply concerned” over the release from pretrial detention of a Kyrgyz organized-crime figure for whom Washington has offered a $1 million reward. In a statement on March 3, the U.S. Embassy in Bishkek described Kamchy Kolbaev as a “transnational organized-crime… Read More
4th March 2021
European Union rules on company financial information need to be updated to apply the lessons of the collapse of German payments firm Wirecard, the bloc’s securities watchdog said on Wednesday. The European Securities and Markets Authority (ESMA) said in a report in November there were deficiencies in how Germany’s securities… Read More
4th March 2021
Deloitte PLT agreed to a 324-million ringgit ($80 million) settlement with the Malaysian government to resolve all claims related to the firm’s audit of 1MDB and its former unit SRC International between 2011-2014. The payout is the largest 1MDB-related settlement by an audit firm in Southeast Asia, the Finance… Read More
4th March 2021
ING Group’s unit in France will pay €3 million to address anti-money laundering (AML) and counterterrorism financing compliance shortcomings identified by the country’s prudential regulator. The banking group, which acknowledged the fine in a statement Tuesday, said the enforcement action stemmed from a 2018 inspection by the Autorité de Contrôle… Read More
4th March 2021
Malaysian police said on Wednesday it was investigating the husband of the country’s former central bank head for allegedly receiving funds linked to 1MDB, a state fund at the centre of a massive corruption scandal. Malaysian and U.S authorities have said around $4.5 billion was stolen from 1Malaysia Development Berhad… Read More
4th March 2021
Embattled financial startup Greensill Capital plans to file for insolvency in the U.K. this week, as it simultaneously moves toward a deal to sell its operating business to Apollo Global Management, according to people familiar with the matter. Also Wednesday, in a dramatic ratcheting up of Greensill’s problems, Germany’s… Read More
4th March 2021
More than 20 years ago, a group of former salesmen for Houston software entrepreneur Robert Brockman sued their old boss, claiming in court that he had deprived them of commissions by directing a portion of customer payments to a Cayman Islands entity. Mr. Brockman twice appealed to the Texas… Read More