Featured Austria

U.S. tells European companies they face sanctions risk on Nord Stream 2 pipeline

The U.S. State Department this month told European companies which it suspects are helping to build Russia’s Nord Stream 2 gas pipeline that they face the risk of sanctions as the outgoing Trump administration prepares a final round of punitive measures against the project, two sources said on Tuesday. “We… Read More

Muslim Brotherhood suspect and Saudi billionaire linked to same offshore companies, Austrian report says

By Scilla Alecci, ICIJ, 8 December 2020 ICIJーOne of 30 people in Austria suspected to be members of the Islamic fundamentalist group Muslim Brotherhood was the director of offshore companies linked to a Saudi billionaire, according to an investigation by Austrian media outlets profil and… Read More

Austrian ex-finance minister gets 8 years in jail for corruption

A Vienna court on Friday sentenced a flamboyant, jet-setting former Austrian finance minister to eight years in prison in the country’s biggest corruption trial since World War II. Karl-Heinz Grasser was found guilty of abuse of power and involvement in kickbacks totalling 9.6 million euros ($11.7 million) over the sale… Read More
11th November 2020
On a cool Saturday evening in March, Jan Marsalek headed across Munich for dinner at the home of a friend. It was a welcome respite for the chief operating officer of German payment processor Wirecard AG, as the previous few weeks had been particularly exacting. Allegations of accounting fraud… Read More
14th October 2020
AP – An anti-corruption watchdog on Tuesday ranked the United States and United Kingdom as the largest exporters most active at enforcing rules meant to prohibit companies from paying bribes in foreign markets, but said many others are doing next to nothing. Berlin-based Transparency International said only four of… Read More
6th October 2020
Sir Malcolm Rifkind had been more used to summoning ambassadors than visiting them. His spell as Foreign Secretary had been cut short, however, by a Conservative electoral collapse. Having lost his Commons seat too, in the first summer of the new millennium Rifkind approached the Czech embassy, a prize-winning concrete… Read More
25th September 2020
Ukrainian oligarch Dmytro Firtash siphoned off more than $190 million of state loans his bank received in the wake of the global financial crisis, part of which he ploughed into a deal to privatize a titanium manufacturing company, according to leaked documents. Bank filings and details from a criminal investigation… Read More
24th September 2020
A friend recommended Carmelita Roque invest her savings in Options Rider. Options Rider’s use of Australian banks gave the US Army soldier comfort her money was safe. “Seeing the money that I would be wiring would be going to a country like Australia, in my mind that was convincing enough… Read More
29th July 2020
Sparkasse Bank has been fined €217,000 for anti-money laundering breaches by the Financial Intelligence Analysis Unit. The Austrian bank was used by Portmann Capital Management, which was identified as the suspect investment firm named in US Homeland Security Investigations investigating illegal payments from the Venezuelan state oil company to top… Read More
1st June 2020
North Korean and Chinese citizens are operating a multibillion-dollar money laundering scheme to help fund the North’s nuclear weapons program, the Justice Department said in an indictment unsealed on Thursday. The case underscores the Trump administration’s inability to halt Pyongyang’s nuclear weapons program through diplomacy. The department charged 28… Read More
12th May 2020
The U.S. division of a global maker of animal feed additives reached a settlement with the Treasury Department over possible sanctions violations—a case that underscores the importance of maintaining a compliance program and seeking guidance from regulators. Biomin America, which agreed to pay about $258,000 in the settlement, and its… Read More
10th April 2020
Criminal proceedings have been brought against a group of persons who are accused of attempting to legalize more than seven million euros of illicit funds using several companies and shady transactions, according to the State Revenue Service (VID) on April 9. The proceedings include a pre-trial investigation of the… Read More
9th April 2020
An international crime ring that conned hundreds of people out of millions of pounds has been broken up in police raids across Bulgaria and Serbia. Nine people were arrested in an operation co-ordinated by Europol and conducted by police in the two countries, as well as in Germany and Austria. Read More