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Former IAAF president Lamine Diack jailed for taking bribes to cover up Russian doping

The former president of international athletics has been jailed for two years by a French court after being found guilty of taking millions of pounds in bribes to cover up positive drugs tests by Russian athletes. Lamine Diack, 87, who ran athletics for 16 years until he was succeeded by… Read More

FIFA’s former No. 2 caught up in scandal had $11 million debt

A former FIFA official accused of accepting nearly $1.5 million in bribes told the Greek businessman accused of paying him the cash to delete most of their correspondence. Jerome Valcke, FIFA’s former secretary general, sent the message to Dinos Deris in October 2016, six months before Swiss federal prosecutors opened… Read More

Gambia’s former first lady Zineb Jammeh hit with US sanctions

Zineb Jammeh, the wife of Gambia’s former president, Yahya Jammeh, has been hit with U.S. sanctions for her role in the economic plunder of the tiny West African county during her husband’s 22-year rule, the U.S. Treasury said on Tuesday. Yahya Jammeh stole at least $50 million of state funds… Read More

16th September 2020

Malta: Attorney General blocks publication of Keith Schembri inquiry

Malta’s new attorney general has refused to release a copy of an inquiry into whether the former prime minister’s chief of staff, Keith Schembri, took a €100,000 kickback on passport sales. The inquiry was based on a leaked FIAU report that raised suspicions about two €50,000 transactions that passed between… Read More

15th September 2020

U.S. Regulators Prepare to Reprimand Citigroup for Failing to Improve Risk Systems

Federal regulators are preparing to reprimand Citigroup Inc. for failing to improve its risk-management systems—an expansive set of technology and procedures designed to detect problematic transactions, risky trades and anything else that could harm the bank. The expected rebuke from the Office of the Comptroller of the Currency and… Read More

15th September 2020

Trial of former JPMorgan banker begins in Hong Kong with plea of not guilty

JPMorgan JPM.N did not carry out key checks when employing the son of a potential client, a prosecutor told a Hong Kong court on Monday, the first day of a bribery trial of the bank’s former Asia investment banking vice-chairwoman, Catherine Leung. Leung, who repeated a not guilty plea… Read More

15th September 2020

Malta: Vitals investor chases Steward for $5 million in London courts

Steward Healthcare is facing a $5 million claim in a London court from an American investor who loaned Vitals Global Healthcare millions in their initial bid to obtain the controversial hospitals privatisation in Malta. A London court will allow Steward to defend its case against the claim made by medical… Read More

11th September 2020

DOJ Announces Dozens of Fraud Charges in Small-Business Aid Program

The Justice Department said on Thursday that it had charged 57 people with trying to steal more than $175 million from the Paycheck Protection Program to help small businesses during the coronavirus pandemic as questions swirled about how its funds were disbursed. Some cases involved “individuals or small groups, acting… Read More

10th September 2020

Explainer: How Bulgaria became the EU’s mafia state

For two months, Bulgarians have packed the streets every night to protest that an oligarchic mafia has captured the state and extended its reach deep into institutions such as the judiciary, media and security services. They are demanding the resignations of Prime Minister Boyko Borissov and Chief Prosecutor Ivan… Read More

9th September 2020

JPMorgan Probing Employees’ Role in Misuse of Relief Funds

JPMorgan Chase & Co. says it’s probing the role of some employees who may have enabled misuse of Covid-relief funds in what it calls potentially illegal activities. The New York-based bank said it has seen “instances of customers misusing Paycheck Protection Program Loans, unemployment benefits and other government programs”… Read More

8th September 2020

Standard Chartered Is Fined $13.6 Million in India for 2007 Deal

India’s anti-money laundering agency fined Standard Chartered Plc 1 billion rupees ($13.6 million) for breaking foreign exchange rules when it worked on the takeover of a local bank, marking one of the country’s biggest penalties imposed on an overseas lender. An eight-year probe found that Standard Chartered violated the so-called… Read More

8th September 2020

Philippines: House leader bats for audit of ‘trust fund-rich’ agencies

House Speaker Alan Peter Cayetano on Sunday called for an audit of all government agencies with big trust or investment funds and to go after possible corruption activities. “I think it’s about time that right after the budget (approval), we must look into government agencies with huge trust or investment… Read More

7th September 2020

Visa faces inquiry over treatment of fintechs

Visa is being investigated by the European Commission over its rules on electronic money providers, after allegations that the giant payments group has behaved in an anti-competitive way. There are also concerns among regulators that some financial technology start-ups are pushing the rules too far through a desire to offer… Read More

Must Read

Deloitte fined record £15m over ‘serious and serial failures’ in Autonomy audit

Leaked EU draft proposes all-encompassing laws for crypto assets

US moves to seize $330m of alleged 1MDB assets held by UK law firm

Suspected arms dealers moved millions in Somali money transfers, report says

US imposes sanctions on Iranian intelligence, Hezbollah-linked targets in Lebanon