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Regulatory Update

30th March 2021

Vatican official ‘offered call girl as thank you for £300m Chelsea property deal’

A Vatican official allegedly offered a businessman the services of a call girl as they negotiated the Holy See’s £300 million purchase of a landmark London property, according to a High Court ruling. Gianluigi Torzi claimed that Fabrizio Tirabassi, a senior lay official involved in the acquisition of an office… Read More

29th March 2021

Brazil prosecutors to investigate Vale over Steinmetz complaint

Rio de Janeiro police have begun investigating allegations brought by Israeli billionaire Beny Steinmetz that Brazilian miner Vale illegally concealed from its shareholders the conditions under which Steinmetz’s company BSGR was supposed to mine one of the world’s biggest iron ore deposits, state prosecutors said on Friday. Vale and BSG… Read More

29th March 2021

Champion racehorse owner Damion Flower pleads guilty to drug importation

Racehorse owner Damion Flower has pleaded guilty to two charges for his role in a syndicate smuggling commercial quantities of cocaine through Sydney Airport. Flower, the 48-year-old part owner of champion stallion Snitzel, was arrested in May 2019 along with Qantas baggage handler To’or’o “John” Mafiti for importing cocaine from… Read More

29th March 2021

Vegas Sands Probes Money-Laundering Safeguards at Singapore Unit

Las Vegas Sands Corp. set up a special committee to look into potential breaches of anti-money laundering procedures at its Singapore casino, which has already been the target of probes by U.S. officials and local police. The committee of three independent board members is reviewing money transfers among high-rollers… Read More

29th March 2021

Swiss banker to Venezuela’s ruling elite turns star witness

AP — Matthias Krull pulls up his pant leg and slides a gardening shear on the ankle monitor that for two years has been a reminder of his crimes. With a court order in hand, the former Swiss banker snips the hard plastic — releasing a… Read More

29th March 2021

Tanzania’s Hassan suspends ports chief, continuing Magufuli’s anti-graft stance

Tanzania’s new president, Samia Suluhu Hassan, on Sunday ordered the suspension of the head of the ports authority over corruption allegations, continuing her late predecessor’s anti-graft drive. Observers have been keen to see signs of policy direction from Hassan, who was sworn in on March 19 after John Magufuli died,… Read More

29th March 2021

Feds spotlight Miami as capital of COVID-19 fraud, from business to employee benefits

A year ago, Congress agreed to spend hundreds of billions of dollars on benefits for small businesses and employees devastated by the coronavirus pandemic. Of course, the government’s handout helped the struggling economy. But it also opened the door for a menagerie of con artists to fleece the federal relief… Read More

26th March 2021

Nigerian Money Laundering: FG tenders bags of multiple currencies against Buhari’s ex-appointee

The Federal Government tendered three bags of naira and other different types of foreign currencies as evidence in the money laundering trial of a former top officer of the Nigerian Air Force, Umar Mohammed, at the Federal High Court in Abuja on Thursday. Mr Mohammed, a retired air commodore,… Read More

26th March 2021

Malta’s FinServices sector left reeling in wake of high-profile arrests on money laundering charges

Malta’s business community is in turmoil following recent damning developments in the investigation of Daphne Caruana Galizia’s assassination, the outgoing president of the Malta Chamber of Commerce said. David Xuereb told sister newspaper BusinessToday this morning that the arrest and incarceration of a number of prominent individuals – including… Read More

26th March 2021

Feds slash Swiss banker’s sentence in Venezuelan money laundering case in Miami

A Swiss banker who was thrust into the spotlight of a billion-dollar Venezuelan money laundering case in Miami has received one of the biggest sentence reductions in U.S. history because of his assistance in helping federal authorities unravel an international web of financial corruption. Matthias Krull, who has been free… Read More

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