Money Laundering

24th August 2016

Dubai: Deloitte is being sued after failing to flag up more than $200 million of money laundering

A Dubai-based investment group is suing the Middle Eastern arm of Deloitte and Touche after the accounting firm failed to flag up money laundering at a now-defunct Lebanese bank. Lebanese Canadian Bank paid over $100 million, or £76 million, in 2011 to settle claims brought by US authorities that it… Read More

24th August 2016

Money laundering suspect fined $42m in NZ

New Zealand police say they have reached a deal with a China-born businessman for him to pay a record NZ$42 million (S$41.5 million) fine to settle legal action following an investigation with China into money laundering. Mr William Yan, a New Zealand citizen, is accused of embezzlement and is on… Read More

24th August 2016

Brazil police probe money laundering tied to Olympic ticket ring

Brazilian police said on Tuesday that they had uncovered emails between International Olympic Committee (IOC) member Patrick Hickey and the head of the THG Sports hospitality company that discussed the illegal sale of Olympic tickets. Police… Read More

24th August 2016

Taiwan probes Mega Financial after U.S. money laundering-related fine

Taiwan is investigating if Mega Financial Holding Co and its banking unit broke local criminal laws in a case that led to U.S. authorities fining the state-controlled group $180 million for anti-money laundering violations. New York authorities on Friday slapped Mega International Commercial Bank with the fine for violations that… Read More

23rd August 2016

India: ED registers fresh money laundering case against Vijay Mallya, Kingfisher airlines

The new case against Mallya and Kingfisher Airlines is based on a complaint filed by a State Bank of India-led (SBI-led) consortium with the Central Bureau of Investigation (CBI). Read More

23rd August 2016

UAE: Deloitte is being sued after failing to flag up more than $200 million of money laundering

A Dubai-based investment group is suing the Middle Eastern arm of Deloitte and Touche after the accounting firm failed to flag up money laundering at a now-defunct Lebanese bank. Lebanese Canadian Bank paid over $100 million, or £76 million, in 2011 to settle claims brought by US authorities that it… Read More

23rd August 2016

Ex-Tech CEO Is Returning to America to Plead Guilty in Stock Options Scandal

He had been arrested in Namibia in September 2006 after a global manhunt, but fought extradition. Read More

23rd August 2016

Fraud suspect wanted by China pays $31m to end New Zealand police probe

William Yan holds New Zealand citizenship and denies any wrongdoing. Although he was never charged in New Zealand with money-laundering, China still considers him one of the country’s most-wanted suspects Read More

22nd August 2016

Kenya: NYS suspects finally face Sh791mn money laundering charges

A Nairobi Court has freed businessman Ben Gethi, Josephine Kabura and eight others on bail after denying Sh791 million NYS money laundering charges. Read More

22nd August 2016

Malaysia: Remand of City Hall’s ‘Datuk Seri’ extended by 5 days

The remand order for a Kuala Lumpur City Hall (DBKL) senior officer has been extended by another five days to help Malaysian Anti-Corruption Commission’s (MACC) ongoing investigation into an alleged graft, abuse of power and money-laundering case involving high-ranking civil servants. The order, granted by Magistrate Nik Isfahanie Tasnim Ab. Read More