Featured Asset Management

Deutsche Bank’s Payments to Saudi Royal Adviser Under Scrutiny: F T

Deutsche Bank’s Switzerland-based wealth management division paid $1.1 million to secure lucrative business arrangements with a senior member of the Saudi royal family, the Financial Times reported Sunday, citing the findings of an internal probe conducted by the bank. The funds, which were offered in tandem with an internship… Read More

Soccer leaker Rui Pinto named as Luanda Leaks whistleblower

A professional soccer whistleblower has been named as the source behind a global exposé of the siphoning of Angolan wealth by Africa’s richest woman and her family. Led by the International Consortium of Investigative Journalists, Luanda Leaks reveals how Isabel dos Santos, amassed a fortune of more than $2… Read More

Taxman unearths £200m in joint operation

HM Revenue & Customs has helped uncover £200m worth of suspected tax evasion and money laundering in the UK. The action — which occurred as part of a series of investigations in Australia, Canada, the Netherlands, the US and the UK — is centred around a Central American financial institution… Read More
24th January 2020
Isabel dos Santos, Africa’s richest woman, is set to be indicted on charges including money laundering, influence peddling and forgery. The forthcoming charges were announced by Angola’s prosecutor general Hélder Pitra Grós at a news conference on Jan. 22. They came less than a week after a sweeping international investigation… Read More
24th January 2020
A Central American financial institution is suspected of helping clients worldwide evade taxes and launder money, according to tax investigators from the U.S., the Netherlands and three other nations coordinating a crackdown. Clients at the unidentified firm “may be using a sophisticated system to conceal and transfer wealth anonymously,” the… Read More
23rd January 2020
A year-long crackdown on Latvian banks’ reputation for money laundering and sanctions dodging appeared to have paid dividends January 22 with official recognition of its success from an important international organization. The Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism – MONEYVAL is a… Read More
23rd January 2020
A total of 237 Maltese taxpayers had featured in the Panama Papers leak, yet the police never carried out a comprehensive probe into all those individuals and companies named. One senior police source said the bulk of the investigations were carried out by the Inland Revenue Department in an administrative… Read More
21st January 2020
Drug trafficking, fraud, forgery, tax crimes, corruption and bribery are “very high threats” to the Luxembourg funds industry, according to a study by the country’s financial regulator. The risk for abuse is high in the Grand Duchy, according to the CSSF’s first national risk assessment of money laundering and terrorist… Read More
21st January 2020
At the request of the International Consortium of Investigative Journalists (ICIJ), I recently analyzed e-mails and other records documenting some of the communication between PwC auditors and representatives of Fidequity, a financial services company that managed several entities formed in Malta, British Virgin Islands (BVI) and the Netherlands. The… Read More
20th January 2020
Pausing at the entrance to a star-studded bash at the Cannes Film Festival, ’90s icon Sharon Stone flashed her one-of-a-kind cuff bracelet. It was a wraparound hippo with rubies for eyes, sapphire nostrils and white diamond teeth. Its body was covered in brown, gray and white diamonds. The dazzling ornament… Read More
20th January 2020
When a fleet of luxury cars dropped off the well-heeled pastors of a South London church near Mayfair on New Year’s Eve, their lavish black-tie gala was marred by a media storm surrounding allegations of financial fraud. But as churchgoers gathered for selfies, they seemed to take scant notice… Read More
16th January 2020
Eight years ago, Goldman Sachs Group Inc. bankers sold bonds on behalf of a little-known Malaysian investment fund. On Wednesday, the fallout from that deal wiped out about 13% of the bank’s 2019 profits and darkened otherwise strong results. Goldman socked away an extra $1.1 billion late last year… Read More
15th January 2020
The new year promises to be an interesting one in white-collar crime. Goldman Sachs is negotiating with the Justice Department to pay a penalty of about $2 billion for its role in the 1Malaysia Development Berhad scandal, known as 1MDB. Accounting fraud became a particular focus of the Justice… Read More