9th January 2019
A North London man who falsely claimed his business was a small pottery unit when it was in fact a profitable cash-generating Chinese restaurant has been jailed. The businessman owned outlets in North Greenwich and at Gun Wharf Quays shopping centre in Portsmouth, Hampshire. He failed to declare cash… Read More
9th January 2019
The U.S. case against the chief financial officer of China’s Huawei Technologies, who was arrested in Canada last month, centres on the company’s suspected ties to two obscure companies. One is a telecom equipment seller that operated in Tehran; the other is that firm’s owner, a holding company registered… Read More
9th January 2019
Prosecutors in the trial of “El Chapo” Joaquin Guzman on Tuesday played excerpts from what they said were incriminating phone calls made by the accused Mexican drug lord and intercepted by the FBI after they infiltrated his encrypted messaging system. Nearly two months into the trial of Guzman on charges… Read More
9th January 2019
AP — The leaders of seven House committees are calling on Treasury Secretary Steven Mnuchin to explain why the United States is easing sanctions on companies linked to Russian oligarch Oleg Deripaska. It’s one of the first moves of the new Democratic House to scrutinize… Read More
8th January 2019
Up to 47 properties and numerous vehicles were seized in a police crackdown on a drug dealers’ network which involved investing drug money in the property market. In a joint operation between police in Spain, Italy, Argentina and Europol, almost 50 suspects were arrested regarding the gang’s activities, which… Read More
7th January 2019
Britain’s Serious Fraud Office (SFO) has dropped its investigation of some individuals associated with Rolls-Royce Holdings (RR.L), it said on Monday, narrowing the number of suspects in a long-running bribery probe. Rolls-Royce signed a Deferred Prosecution Agreement (DPA) with the SFO in a 497 million pound settlement almost two years… Read More
7th January 2019
The Frankfurt prosecutor’s office has dropped an insider trading case against former Deutsche Boerse (DB1Gn.DE) Chief Executive Carsten Kengeter in exchange for payments of almost 5 million euros ($5.68 million). Prosecutors investigated Kengeter after he purchased Deutsche Boerse shares worth 4.5 million euros in December 2015 as part of a… Read More
7th January 2019
Credit Suisse has reportedly reached a deal with the New York State Attorney General’s office over misconduct allegations regarding residential mortgage-backed securities (RMBS). Prosecutors had sought billions over the case, in which the bank was accused of misrepresenting the quality of loans linked to MBS during the financial crisis. Instead,… Read More
7th January 2019
Karsten Dybvad is putting on a brave face. Danske Bank’s new chairman recently insisted that the Copenhagen-based lender did not face an “existential crisis”, despite helping clients launder up to 200 billion euros between 2007 and 2015 via a Baltic subsidiary. In 2019 that will be put to the… Read More
7th January 2019
There are “lots of indications” that some managers discussed “the reputational risks” of Deutsche Bank’s involvement in a share-trading scheme that is the subject of Germany’s biggest post-war fraud investigation, according to a conclusion in one of five internal audits seen by Reuters. The bank issued tax certificates for withholding… Read More