7th January 2019
The most senior bankers to face criminal charges in Britain over conduct during the financial crisis will appear before a London jury next week in a trial that will test the mettle of the Serious Fraud Office. Former Barclays (BARC.L) CEO John Varley and three one-time colleagues stand charged over… Read More
4th January 2019
Three former Credit Suisse bankers have been arrested over money laundering and bribery charges pertaining to a scam which involved $2 billion in loans to companies in Mozambique. According to the prosecution, three Mozambican state-owned firms borrowed over $2 billion. The loan proceeds were meant to be used… Read More
4th January 2019
Peru Attorney General Pedro Chavarry on Wednesday reappointed two lead prosecutors he had dismissed from a high-profile graft probe after the decision sparked widespread opposition and a threat by President Martin Vizcarra to suspend him. The prosecutors, Rafael Vela and Jose Domingo Perez, had recently drawn up a plea deal… Read More
3rd January 2019
Brazilian construction conglomerate Odebrecht SA [ODBES.UL] has agreed to pay 161.9 million reais (£32.8 million) to Centrais Eletricas Brasileiras SA (ELET6.SA) in a deal with authorities to help settle corruption allegations against it, according to a securities filing on Wednesday. Eletrobras, as the state-run power holding company is known,… Read More
2nd January 2019
Wells Fargo has agreed to pay $575 million to 50 states and the District of Columbia over its fake bank accounts scandal and harmful mortgage charges. The bank will also implement a consumer redress review program, where customers who have not been made whole through other restitution programs can… Read More
31st December 2018
AP — A Miami biotech billionaire with his name on the city’s science museum says he has reached an agreement with the Securities and Exchange Commission to settle a civil complaint of stock fraud. Phillip Frost and OPKO Health were charged in September in long-running fraudulent schemes that generated over… Read More
31st December 2018
The Financial Industry Regulatory Authority (FINRA) has fined Morgan Stanley Smith Barney LLC $10 million for anti-money laundering (AML) program and supervisory shortcomings, including the failure to devote sufficient resources to review potentially suspicious transactions. FINRA found that Morgan Stanley’s automated AML surveillance system did not receive critical data… Read More
28th December 2018
Two Albanian brothers and an accomplice have been jailed for smuggling over £7 million cash on over 80 flights from the UK to various destinations across Europe. The brothers organised travel for four others who acted as couriers by carrying large amounts of cash in their luggage, according to the… Read More
28th December 2018
AP – London’s police chief has suggested that Brexit will be costly and could have a damaging effect on public safety. Cressida Dick told the BBC on Thursday that leaving the European Union would be more challenging if there’s no deal in place between Britain and… Read More
27th December 2018
JPMorgan Chase & Co (JPM.N) will pay over $135 million to settle charges it mishandled so-called “pre-released” American Depositary Receipts (ADRS), the Securities and Exchange Commission announced on Wednesday. The regulator said the investment bank improperly provided ADRs, which are U.S. securities that represent foreign shares of foreign companies, to… Read More