Featured France

UBS Is Victim of Own Success in Bid to Cut $4.4 Billion Fine

A ruling slashing a record French fine against a bank seemed to bode well for UBS Group AG as it fights an even larger 3.7 billion-euro ($4.4 billion) penalty in front of the same judges. But the Swiss lender might be a victim of its own success. According to… Read More

Top racehorse owner Phoenix has prize money frozen

Phoenix Thoroughbreds, one of the biggest investors in Australian race horses, has had its prize money frozen in NSW and Victoria following allegations in a US court its founder was involved in money laundering. Racing NSW chairman of stewards Marc Van Gestel said the prize money would be set aside… Read More

Burundi Sees European Union Lifting Sanctions Before End of Year

Burundi and the European Union have accelerated talks on lifting sanctions imposed by the bloc, according to Foreign Affairs Minister Albert Shingiro. The EU placed penalties on some politicians and state officials and froze government financing in 2015 during a political crisis that followed former President Pierre Nkurunziza’s decision to… Read More
11th April 2021
French aerospace major Dassault Aviation on Thursday rejected fresh allegations of corruption in the Rafale fighter jet deal with India, saying no violations were reported in the frame of the contract, days after French online journal Mediapart alleged that the jet manufacturer had paid nearly one million Euros to an… Read More
7th April 2021
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
7th April 2021
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
6th April 2021
A sophisticated human trafficking network dismantled in Colombia, illustrates a pattern in how Venezuelan citizens, particularly women, are recruited. On March 27, Colombian authorities managed to arrest and indict members of an organized criminal group (Grupo de Delincuencia Organizado – GDO) known as “Los PEP,” who… Read More
23rd March 2021
French prosecutors and lawyers for the government said UBS Group AG should be ordered to pay 3 billion euros ($3.6 billion) — 33% less than the original judgment — for allegedly helping French clients hide money from the nation’s tax authorities. Prosecutor Serge Roques asked a Paris court of… Read More
19th March 2021
A company newly sanctioned by the U.S. over Alexei Navalny’s poisoning attack is tied to the money-laundering network that Natalia Veselnitskaya tried to cover up at the infamous 2016 Trump Tower meeting, according to financial records obtained by The Daily Beast. Now we know why Vladimir Putin was so… Read More
19th March 2021
The European Union has frozen plans to blacklist more senior executives at Turkey’s state-owned Turkish Petroleum Corporation (TPAO), four diplomats said, in the clearest sign that a diplomatic offensive by Ankara this year is bearing fruit. EU leaders in December had proposed asset freezes and travel bans over Turkey’s “unauthorised… Read More
17th March 2021
By Tom Warren, BuzzFeed News, 16 March 2021 BuzzFeed News — It looked like a major windfall for Nigeria’s taxpayers, more than half of whom were living in “absolute poverty.” Two giant energy companies were offering more than $1 billion to drill oil on a strip… Read More
17th March 2021
Former French president Nicolas Sarkozy goes on trial Wednesday over claims of illicit financing for his failed 2012 re-election bid, just two weeks after a landmark conviction for corruption. On March 1, the 66-year-old became France‘s first post-war president to be sentenced to prison when he was given a… Read More
10th March 2021
France may soon join just a handful of countries, including the United States and Switzerland, with far-reaching legislation aimed to repatriate confiscated stolen assets to their countries of origin. A luxury townhouse on Avenue Foch — one of Paris’ chicest addresses — is caught up in a yearslong legal battle… Read More