7th August 2018
The U.S. Justice Department wants to suspend its legal efforts to take possession of the superyacht Equanimity, impounded as part of a hunt for assets linked to the multi-billion dollar 1Malaysia Development Bhd (1MDB) scandal. Indonesia handed over the $250 million Equanimity to Malaysia on Monday. The U.S. Justice… Read More
6th August 2018
AP — Indonesia is returning a luxury yacht allegedly bought with funds stolen from a Malaysian state investment company after a monthslong legal battle, a police official said Sunday, The $250 million Equanimity is on its way to a border location where it will be transferred… Read More
3rd August 2018
JPMorgan Chase & Co (JPM.N) said on Wednesday it is among banks and securities dealers being investigated by the U.S. Securities and Exchange Commission for their handling of so-called “pre-released” American Depositary Receipts (ADR) between 2011 and 2015. The disclosure, made in a regular quarterly filing by JPMorgan, comes after… Read More
1st August 2018
Estonia’s general prosecutor said on Tuesday it had begun a criminal investigation of Danske Bank over allegations that Denmark’s largest bank was involved in money laundering through the Baltic country in the past. Shares in Danske Bank have fallen by almost a quarter this year following allegations its Estonia branch… Read More
1st August 2018
Paul Manafort, a former chairman of Donald Trump’s 2016 presidential campaign, faces 18 criminal counts in his trial in a federal court in Alexandria, Virginia, that starts on Tuesday. Manafort has pleaded not guilty. Half the counts involve bank fraud and bank fraud conspiracy, which carry a maximum sentence of… Read More
31st July 2018
To pave the way for talks with Iran, the United States should return to a 2015 nuclear deal between Iran and six major powers, an aide to Iranian President Hassan Rouhani said on Tuesday. “Respecting the Iranian nation’s rights, reducing hostilities and returning to the nuclear deal are steps that… Read More
31st July 2018
Britain has warned the European Union negotiators that EU financial firms will face obstacles to working in the country after Brexit unless the City of London is allowed to operate in the bloc as it does currently, the Guardian reported on Monday. The Guardian said that about 7,000 European based… Read More
30th July 2018
Financial and asset management firm Mirelis Holding S.A has agreed to pay the United States $10.25 million in order to avoid prosecution for tax-related criminal offenses, the Department of Justice said. The Swiss firm also agreed to cooperate in any related criminal or civil proceedings, and to demonstrate its implementation… Read More
27th July 2018
The value of assets restrained in the United Kingdom and overseas as a result of activity by Britain’s recently formed International Corruption Unit (ICU) exceeded £683 million at year end, according to the National Crime Agency’s (NCA) annual report. The cumulative amount of assets confiscated exceeds £55 million, the… Read More
25th July 2018
Frontmen who fail to declare the beneficial owners of foreign-owned UK properties face up to five years in jail under the British government’s draft laws aimed at tackling money laundering and corporate secrecy in the property sector. The planned legislation also includes unlimited fines and makes it easier for law… Read More