Hong Kong Courts the Rich as China Tightens Its Grip
7th April 2021
Hong Kong Courts the Rich as China Tightens Its Grip
Political opposition has been quashed. Free speech has been stifled. The independent court system may be next. But while Hong Kong’s top leaders take a tougher line on the city of more than seven million people, they are… Read More
Lebanon’s Central Bank Governor’s UK Assets Under Review
7th April 2021
Lebanon’s Central Bank Governor’s UK Assets Under Review
By Lara Dihmis and Tom Stocks, OCCRP, 7 April 2021 OCCRP —  British MP and anti-corruption advocate Margaret Hodge reported Lebanon’s central bank governor Riad Salame and his associates to the U.K. National Crime Agency (NCA) for money laundering and corrupt practices. Hodge’s cabinet confirmed to… Read More
Lawyers, accountants face tougher rules, higher costs to act as company directors
7th April 2021
Lawyers, accountants face tougher rules, higher costs to act as company directors
An army of warranted professionals in Malta – accountants, auditors, lawyers and notaries – are balking at new rules removing their exemption from onerous authorisation by the financial regulator (MFSA) to act as company officers. The pressure on Malta to tighten up its corporate governance rules by the Council of… Read More
BitMEX’s CEO surrenders in Hawaii, released on $10M bond
7th April 2021
BitMEX’s CEO surrenders in Hawaii, released on $10M bond
Former BitMEX CEO Arthur Hayes surrendered to United States authorities in Hawaii on Tuesday, six months after federal prosecutors first levied charges against him and three fellow BitMEX executives. In a statement, Hayes’ lawyers described the Singapore resident as “a self-made entrepreneur who has been wrongly… Read More
UK Police Dismantles Dark Web Drug Ring
7th April 2021
UK Police Dismantles Dark Web Drug Ring
By Juliett Pineda, OCCRP, 6 April 2021 OCCRP — British authorities said they have seized drugs worth 4.3 million pounds (nearly US$6 million) from suspected members of a criminal network that sold MDMA, commonly known as ecstasy, amphetamines and other narcotics on the dark web. The… Read More
Record French Fine Slashed as Latvian Bank Wins Tax Appeal
7th April 2021
Record French Fine Slashed as Latvian Bank Wins Tax Appeal
Latvian lender Rietumu Banka won a 75% reduction in what was once France’s highest criminal fine for a company. Rietumu, which had allegedly helped clients of a company-registration and advisory firm dodge taxes, will still have to pay 20 million euros ($23.6 million), down from the… Read More
Organized Real Estate Fraud Rings Threaten Property Owners in Costa Rica
7th April 2021
Organized Real Estate Fraud Rings Threaten Property Owners in Costa Rica
With owners of expensive lots kept away from Costa Rica because of COVID-19 restrictions, organized property fraud rings have enlisted corrupt notaries to steal properties. At least 50 public notaries have been collaborating with criminal groups to illegally transfer properties or to forge documents to allow them to be used… Read More
Former Gunvor employee pleads guilty in Petroecuador bribery case
7th April 2021
Former Gunvor employee pleads guilty in Petroecuador bribery case
A Canadian man once employed by the commodities trading house Gunvor Group pleaded guilty on Tuesday to involvement in what U.S. prosecutors called a scheme to bribe Ecuadorean government officials to win business from state-controlled oil company Petroecuador. Raymond Kohut, 68, entered his plea to a money laundering conspiracy charge… Read More
Ex-SocGen Bankers Challenge Fines Over Putin Foe’s $700 Million Deposits
7th April 2021
Ex-SocGen Bankers Challenge Fines Over Putin Foe’s $700 Million Deposits
Two former Societe Generale SA bankers are challenging Swiss fines issued for failing to report suspicious deposits worth more than $700 million made by a one-time ally of Russian President Vladimir Putin. The former head of SocGen’s Swiss private bank and the ex-head of compliance, who… Read More
Japan’s Biggest Bank Rebuilds Tokyo HQ for Post-Pandemic Work
6th April 2021
Japan’s Biggest Bank Rebuilds Tokyo HQ for Post-Pandemic Work
Japan’s largest bank will rebuild its 40-year-old headquarters in Tokyo’s financial district as the lender prepares for a post-Covid world that will also see some compliance roles shift to India. The new building will “significantly reduce” facility expenses for the financial group by bringing together about 19,000 workers who are… Read More
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