Featured Real Estate

Prosecutors seek sale of luxury homes linked to stepson of Malaysian ex-PM

U.S. prosecutors are seeking to sell three luxury homes linked to the stepson of former Malaysian prime minister Najib Razak, court documents showed, in the latest effort to recover money allegedly stolen from Malaysian fund 1MDB. Malaysian and U.S. authorities allege that about $4.5 billion was misappropriated from 1Malaysia Development… Read More

Trudeau broke rules in SNC-Lavalin affair, says ethics tsar

Canadian PM Justin Trudeau violated federal conflict of interest rules in the handling of a corruption inquiry, the federal ethics tsar has found. The ethics commissioner says Mr Trudeau improperly tried to influence a former minister in the SNC-Lavalin affair. The prime minister says he accepts the commissioner’s report but… Read More

Jeffrey Epstein’s Opaque Finances Could Become Focal Point for Investigators

The money, tens of millions of dollars of it, would flow among Jeffrey Epstein’s dozens of bank accounts, shell companies and, at times, charities linked to high-powered friends. Where was the money going? What was it for? Who was actually sending and receiving it? A convicted pedophile and accused sex… Read More
13th August 2019
Inquiries from Hongkongers about property in Portugal, the homeland of football superstar Cristiano Ronaldo, have seen an upswing in recent months as wealthy residents and investors clamour for an alternative residency amid escalating political tensions in the city, analysts said. Since its unveiling in 2012, Lisbon’s golden visa scheme has… Read More
13th August 2019
The B.C. government is suing to seize properties in the B.C. Interior that it alleges were linked to a $200-million-plus international stock fraud. In a lawsuit filed in B.C. Supreme Court this month, the B.C. Civil Forfeiture Office alleges a $1.6-million house on Mission Ridge Road in Kelowna and a… Read More
12th August 2019
Pope Francis has approved new statutes for the Vatican Bank, making an external audit obligatory and introducing other changes to bolster reforms that have turned around the once scandal-ridden institution. The statutes, approved in a papal document released by the Vatican on Saturday, cap more than six years of changes… Read More
12th August 2019
Mozambique charged 20 people, including the son of former President Armando Guebuza, over a fraud scam in which state-owned companies contracted $2 billion in debt for dubious projects. Legal action may follow against former finance minister Manuel Chang, who Mozambican authorities as well as the U.S Justice Department want… Read More
12th August 2019
Five years ago, everything changed in Latin America—or so it seemed. Investigations into a money-laundering operation in Brazil beginning in 2014 revealed a massive bribery scheme involving energy and construction companies. The “Car Wash” scandal saw dozens jailed and billions of dollars in fines—and implicated politicians in Argentina, Colombia, Peru and… Read More
9th August 2019
Police in Brazil on Thursday arrested Eike Batista, the charismatic mining and oil magnate who was once the country’s richest man, on suspicion of money laundering and insider trading. Police and prosecutors said in statements that they arrested the eccentric former billionaire in Rio de Janeiro on a temporary basis. Read More
8th August 2019
Companies facing potential prosecutions by the UK’s Serious Fraud Office (SFO) should organize related financial records for investigators, identify relevant witnesses and waive pertinent legal privileges, according to new agency guidance.  The recommendations, published Tuesday, outline how corporations can cooperate with the SFO ahead of any decision to prosecute… Read More
5th August 2019
The Ministry of Construction has recently requested the Departments of Construction in cities and provinces to urge enterprises in the real estate sector to report suspicious transactions and cash transactions worth 300 million VND (13,000 USD) and above. This is in line with the ministry’s strengthened efforts to prevent money laundering… Read More
5th August 2019
A total of 35 bank accounts were frozen in addition to RM4 million cash and properties seized in raids on a network of illegal money services business (MSB) operators around the Klang Valley and Penang. Bank Negara in a statement said the raiding operation, held in collaboration with the Royal… Read More
5th August 2019
The UK’s HM Treasury recently (and belatedly) published its Anti-Money Laundering and Counterterrorist Financing Supervision Report for the year ended 31 March 2018. With publication of the findings coming some fifteen months after the end of the review period, regulators and supervisors have no excuses for failing to address the… Read More