6th November 2019
Malaysia is working to locate at least $4.3 billion in assets that have yet to be accounted for in a global money laundering probe into state fund 1MDB, its anti-corruption chief said on Tuesday. U.S. authorities say about $4.5 billion was siphoned from sovereign wealth fund 1Malaysia Development Berhad (1MDB)… Read More
6th November 2019
Cypriot former Interior Minister Sokrates Hasicos denied on Monday media reports saying Malaysian fugitive Jho Taek Low – a key figure in a multi-billion dollar embezzlement scheme – had acquired Cypriot citizenship in 2015 just two days after applying. Cypriot newspaper Politis said the businessman, known as Jho… Read More
5th November 2019
Latvia’s central bank chief, who led the former Soviet republic into the euro, appeared in court on Monday accused of bribery in the first corruption trial of a European Central Bank governor. Latvia’s public prosecutor has accused Ilmars Rimsevics, 54, of accepting the offer of a 500,000-euro bribe and taking… Read More
5th November 2019
The United States on Monday imposed sanctions on nine people close to Iran’s Supreme Leader Ayatollah Ali Khamenei, including his chief of staff, one of his sons and the head of the judiciary. Coinciding with the 40th anniversary of Iran’s seizure of the U.S. embassy in Tehran, the U.S. Treasury… Read More
5th November 2019
Financial watchdogs in the USA, Sweden and Estonia have initiated a wide-ranging investigation into the operations of Swedbank, the largest financial institution in the Baltic states, reported LTV’s De Facto investigative show November 3. Investigations involve examining several suspicious transactions over a period of several years. However, Latvian regulators have no plans on… Read More
5th November 2019
UBS Group AG is set for a Paris retrial in June to fight its conviction and record 4.5 billion-euro ($5 billion) fine for helping wealthy French clients stash undeclared funds in offshore accounts. Judges at the Paris Court of Appeals said on Monday the UBS retrial will run… Read More
5th November 2019
AP — As gamblers called out bets around craps and roulette tables at a sports club in Bangladesh’s capital, dozens of black-clad security forces burst inside. Gamblers were ordered to the floor as police and members of Bangladesh’s Rapid Action Battalion, which normally handles major counterterrorism operations, cracked open iron… Read More
4th November 2019
The tax office has been “swamped” with 5.7 million pieces of information about overseas bank accounts held by three million British citizens under the terms of a new international treaty, according to tax experts. However, HM Revenue & Customs (HMRC) does not have enough staff to investigate the information, according… Read More
4th November 2019
As Venezuela’s oil-based economy continues to crumble, a politically connected class of businessmen with financial ties to Miami has grown fabulously wealthy from energy deals with the socialist government. Among the Venezuelan upper crust who have made fortunes during the Bolivarian revolution: Alejandro Betancourt. Without any experience in the energy… Read More
4th November 2019
Hundreds of millions of dollars in cash has been shipped from Russia to Venezuela, providing a lifeline to the South American country as U.S. sanctions limit its access to the global financial system. A total of $315 million of U.S. dollar and euro notes were sent in six separate shipments… Read More