4th July 2018
AP — Former Malaysian Prime Minister Najib Razak was arrested Tuesday by anti-graft investigators and will be charged over his alleged role in the multibillion-dollar looting of a state investment fund, officials said. A government task force probing alleged theft and money laundering at the 1MDB state… Read More
3rd July 2018
Gennady Timchenko, a billionaire friend of Russian President Vladimir Putin, has sold his private jet, according to a broker and aircraft registration data, after complaining that U.S. sanctions made it impossible for him to use the aircraft. The owner of the Gulfstream jet now is a subsidiary of Russia’s sovereign… Read More
28th June 2018
AP — The total value of cash, jewelry, watches and handbags seized from properties linked to former Malaysian Prime Minister Najib Razak in a money-laundering investigation amounted to at least $273 million, police said Wednesday, calling the haul the biggest in Malaysia’s history. The items comprised 12,000… Read More
26th June 2018
AP — Apollo 11 moonwalker Buzz Aldrin is suing two of his children and a former business manager, accusing them of misusing his credit cards, transferring money from an account and slandering him by saying he has dementia. Aldrin’s lawsuit filed earlier this month in a Florida… Read More
19th June 2018
Britain’s regulator will launch an investigation into the impact of new European Union rules on the asset management industry after concerns were raised about how they affect the pricing of investment research and other issues. The change in rules was aimed at pushing more stock trading onto regulated public exchanges,… Read More
25th May 2018
Latvia has warned the European Union to bolster fragmented money laundering controls as much of the cash now leaving the Baltic state to escape tighter scrutiny is going to other EU countries. The warning was issued by the country’s prime minister and finance minister in interviews with Reuters, when both… Read More
22nd May 2018
AP — The British Parliament’s foreign affairs committee slammed the government Monday for “turning a blind eye” to the role London’s financial center plays in laundering the proceeds of Russian corruption, saying it helps the Kremlin finance its aggressive foreign policy. Despite the government’s tough rhetoric after the… Read More
10th May 2018
AP — A New York hedge fund founder was arrested Wednesday on charges that he exaggerated his company’s performance by over $200 million to impress and preserve investors. Anilesh Ahuja, 49, of Manhattan, was charged with conspiracy, securities fraud and wire fraud. Federal officials said that the founder, chief… Read More
2nd May 2018
Germany’s financial watchdog BaFin has published a statement outlining the way cryptocurrencies such as bitcoin and related investments should be classified. “For some time now, BaFin has been receiving an increasing number of queries enquiring whether tokens and virtual currencies (referred to as ”tokens“) marketed to investors in initial coin… Read More
23rd April 2018
The Financial Conduct Authority (FCA) has published a set of new rules for the asset management industry, outlining its stance on accountability rules for top executives. The FCA had previously stated that it would consult on a new specific Prescribed Responsibility (PR) for authorised fund managers (AFMs) as part of… Read More