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UAE Convicts Alleged 1MDB Co-Conspirators: Report

Two individuals accused of playing prominent roles in the sprawling 1Malaysia Development Bhd. scandal have been convicted of financial crimes in Abu Dhabi, The Wall Street Journal reported Sunday. The Abu Dhabi Criminal Court sentenced Khadem al Qubaisi, a United Arab Emirates citizen who previously headed the International Petroleum Investment Company… Read More

Aiding “organised crime”: India alleges 22 audit violations by Deloitte, KPMG arm in fraud case

India detected at least 22 violations of auditing standards by Deloitte Haskins & Sells and a KPMG affiliate while investigating a fraud at a financial company, leading it to seek a five-year ban on the auditors, according to government legal filings seen by Reuters. The failures were detected as part… Read More

Hong Kong tycoons start moving assets offshore as fears rise over new extradition law

Some Hong Kong tycoons have started moving personal wealth offshore as concern deepens over a local government plan to allow extraditions of suspects to face trial in China for the first time, according to financial advisers, bankers and lawyers familiar with such transactions. One tycoon, who considers himself potentially politically… Read More

12th June 2019

India’s J&K Bank shares slide further on fraud probe allegations

Shares in India’s Jammu and Kashmir Bank Ltd slumped for a second consecutive day on Tuesday, after local media reported that an anti-corruption probe into the bank had uncovered a sizable fraud at the state-run lender. Shares in the bank closed down 6.72% at 48.55 rupees, after falling 12.4% on… Read More

12th June 2019

Bipartisan Senate Group Backs Wide-Ranging AML Bill

It is one of the most ambitious anti-money laundering (AML) bills presented to the US Congress in years, though its greater distinction may be that it arrives with something harder to come by than ambition on Capitol Hill: bipartisan support from well-placed lawmakers. Four members of the Senate Banking Committee—Sens. Read More

11th June 2019

Senegal justice ministry calls for inquiry into energy contracts

Senegal’s justice ministry asked prosecutors on Monday to launch an inquiry into the country’s energy contracts after a report alleged that the president’s brother was involved in fraud related to two offshore gas blocks being developed by BP. After the publication of the investigation by the BBC last week, President… Read More

10th June 2019

Australia seizes properties from Chinese national with Beijing’s help

The Australian government has confiscated three properties from a Chinese national after a joint money-laundering investigation with China, police said on Saturday. The Melbourne real estate was owned by a 32-year-old Chinese national who had been using an assumed name and had relocated to the Caribbean, the Australian Federal Police… Read More

10th June 2019

Hong Kong plunged into political crisis after huge protest against extradition law

Riot police surrounded Hong Kong’s parliament early on Monday after what had been a peaceful million-strong protest against an extradition bill descended into running clashes between police and protesters. Several hundred riot police armed with batons, shields, tear gas guns and pepper spray sealed off the Legislative Council as a… Read More

7th June 2019

Why Hong Kong’s extradition law changes are fuelling fears

Tens of thousands of people are expected to take to the streets of Hong Kong on Sunday in a bid to block changes to the Chinese-ruled city’s extradition laws, which could pave the way for fugitives wanted by mainland China to be sent across the border for trial for the… Read More

6th June 2019

Hundreds of thousands sign petition demanding Hungary join new EU prosecution body

An opposition politician has collected 680,000 signatures to push for Hungarian membership of a planned European Union prosecutor’s office (EPPO), a step rejected by Budapest’s eurosceptic nationalist government. Due to be launched in 2020, the EPPO will be geared to investigating and pressing criminal charges in cases crossing borders of… Read More

6th June 2019

Man charged with abusing Stan Lee pleads not guilty

AP — A former business manager to Stan Lee has pleaded not guilty Wednesday to charges that he abused the Marvel Comics legend. Keya Morgan, 43, entered the plea Wednesday in Los Angeles after authorities transported him from Arizona, where he was arrested last month. Morgan was charged in May… Read More

5th June 2019

Contracting business owners pleads guilty in fraud scheme

AP — The owner of a contracting company has pleaded guilty to participating in a scheme that defrauded the government by receiving contracts intended for veterans and minorities. Forty-three-year-old Matthew McPherson, owner of Topeka-based McPherson Contractors, pleaded guilty Monday to conspiracy to commit wire fraud and major program fraud. Federal prosecutors… Read More

4th June 2019

Hong Kong introduces concessions to extradition bill, but critics say not enough

Hong Kong will make concessions to a controversial extradition bill, Security Secretary John Lee said on Thursday, but opposition lawmakers called for the legislation, which they fear will extend Beijing’s reach into the city, to be scrapped. Various groups in Hong Kong, including democracy activists, have objected to the proposals,… Read More

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UAE Convicts Alleged 1MDB Co-Conspirators: Report

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Aiding “organised crime”: India alleges 22 audit violations by Deloitte, KPMG arm in fraud case

Hong Kong tycoons start moving assets offshore as fears rise over new extradition law

Dominica removed from EU tax haven blacklist