6th July 2020
Almost two decades after the collapse of Enron Corp., a former unit of the energy-trading giant is sparring with U.S. and Nigerian authorities over the proceeds of the sale of a luxury yacht. The dispute pivots on the Galactica Star — a 213-foot vessel once worth more than $80 million. Read More
6th July 2020
A Nigerian social-media celebrity was extradited to the U.S. from Dubai to face fraud charges. Ramon Olorunwa Abbas was flown to Chicago on July 2 and appeared in court the following day, the U.S. Department of Justice said in a statement. Abbas, widely known as “Hushpuppi,” has 2.4 million followers… Read More
3rd July 2020
€120 million in financial transactions from the shuttered Portmann Capital Management, were funnelled through the private Malta-based Pilatus Bank, the former economic crimes unit boss said. Assistant Commissioner Ian Abdilla told the public inquiry into the assassination of Daphne Caruana Galizia, that Portmann had channelled a total of €120 million… Read More
3rd July 2020
The U.S. Department of Justice on Wednesday said it was looking to recover another $96 million in assets in real estate and artwork linked to the 1Malaysia Development Berhad (1MDB) international money-laundering conspiracy. The assets include luxury real estate in Paris and paintings by Claude Monet and Andy Warhol linked… Read More
3rd July 2020
The City regulator was warned last year that Wirecard was allegedly linked to a scheme that used fake online stores to disguise the processing of high-risk payments. The Financial Conduct Authority was given details of an operation whereby allegedly bogus ecommerce sites were used as a front for channelling online… Read More
2nd July 2020
Vatican police on Tuesday raided the office that manages St. Peter’s Basilica, seizing documents and electronic equipment as part of an investigation into possible corruption in procurement practices. The extraordinary raid comes a month after the Vatican published new procurement rules intended to prevent corruption and cut costs. The Holy… Read More
2nd July 2020
On March 9, a German businessman named Ruben Weigand was arrested at Los Angeles International Airport, during a layover on his way to Costa Rica. In an indictment unsealed later that week, federal prosecutors in Manhattan charged Mr. Weigand with a single count of conspiracy to commit bank fraud, stemming… Read More
2nd July 2020
Goldman Sachs Group Inc. is in the final stages of resolving its biggest legal threat in a decade after tussling with the government on one critical issue: a potential guilty plea for the first time in Goldman’s history. To avert such a penalty over its work for a Malaysian sovereign… Read More
2nd July 2020
Halkbank will ask the U.S. judge overseeing a criminal case accusing it of helping Iran evade American sanctions to recuse himself, a lawyer for the Turkish bank said on Tuesday. The lawyer, Robert Cary, notified U.S. District Judge Richard Berman of Halkbank’s intention at a hearing, without providing a reason. Read More
1st July 2020
Senior Wirecard employees were linked to an opaque network of British companies associated with alleged money laundering. Staff from the scandal-hit German payment processor were shareholders in a company creation operation in the northeast of England that was shut down after a government investigation. The revelations will increase scrutiny of… Read More