Featured Criminal Investigations

UBS pays more than 10 million euros to settle Italy money-laundering probe

An Italian judge has accepted a request by UBS (UBSG.S) to pay more than 10 million euros ($11 million) to settle a money-laundering investigation, ending one of the Swiss bank’s biggest legal headaches in Europe. “We are pleased to have resolved this matter,” a UBS spokesperson said in… Read More

Ex-Credit Suisse Banker Hid $45 Million, Names Four Others

A former Credit Suisse Group AG banker told a federal jury in New York that he alone pocketed at least $45 million in a massive kickback scheme and named other ex-employees of the bank he says made millions of their own. Testifying on Wednesday, Andrew Pearse recited the illicit… Read More

Probe of Giuliani Allies Gathered Records on 50 Bank Accounts

U.S. authorities investigating an alleged effort by associates of Rudy Giuliani to funnel foreign money into U.S. election campaigns have collected records of financial transactions for more than 50 bank accounts as well as correspondence on 10 email addresses, a federal prosecutor said in a New York courtroom Thursday. The… Read More
18th October 2019
An Indian court on Thursday sent the former managing director of Punjab and Maharashtra Co-operative (PMC) Bank, Joy Thomas, to jail as a probe into an alleged 43.55 billion rupees ($610 million) fraud intensifies. Thomas stands accused in a police complaint of criminal breach of trust, forgery and falsification of… Read More
17th October 2019
Goldman Sachs has been negotiating with the Malaysian authorities to drop criminal charges against three of its subsidiaries in connection with three bond issues by 1Malaysia Development Berhad, or 1MDB. The government is seeking $3.3 billion in compensation from the U.S. investment bank, accusing it of helping a Malaysian businessman… Read More
17th October 2019
After repeated appeals to President Trump by Turkey’s president to avoid charges against a state-owned Turkish bank, Attorney General William P. Barr oversaw an effort earlier this year to negotiate a settlement with the bank, two people with knowledge of the matter said. The settlement push abruptly ended on Tuesday… Read More
17th October 2019
The process of the banking system looting was a well-prepared operation in time, coordinated with politicians and state dignitaries. It is one of the conclusions of the report for the elucidation of all circumstances of the banking system looting and investigation of the banking fraud, presented on October 17 at… Read More
17th October 2019
U.S. prosecutors filed criminal charges against Turkey’s Halkbank, accusing it of fraud, money laundering and violating U.S. sanctions against Iran, in a case that Turkish President Recep Erdogan had pressed both President Donald Trump and President Barack Obama to dismiss. Read More
17th October 2019
Understanding why Hezbollah has deep roots in the drug trade requires a historical view of Lebanon. Read More
16th October 2019
At least two former Credit Suisse Group AG bankers will testify for the U.S. at a federal trial this week, describing their roles in what the Justice Department says was a $2 billion kickback scam in Mozambique. Andrew Pearse, who headed the global financing group in the bank’s London… Read More
16th October 2019
He is Asia’s most-wanted man. He is protected by a guard of Thai kickboxers. He flies by private jet. And, police say, he once lost $66 million in a single night at a Macau casino. Tse Chi Lop, a Canadian national born in China, is suspected… Read More
16th October 2019
As Venezuela’s chronic food shortages began intensifying, Naman Wakil, a former street peddler who made millions of dollars supplying meat to the socialist government’s food programs, decided to share the wealth. Wakil ordered his Swiss bankers to transfer $5.9 million to relatives of state Food Minister Carlos Osorio, who’d given… Read More
15th October 2019
Deutsche Bank did not disclose more than one million suspect money transfers with Danske Bank until February, a person with direct knowledge of the matter said, about five years after a whistleblower flagged suspicious transactions at Danske. Deutsche (DBKGn.DE) sent alerts about the suspect money flows involving the… Read More