28th May 2020
The Paris Court of Appeal on Wednesday found veteran right-wing politicians Patrick and Isabelle Balkany guilty of money-laundering and sentenced them both to jail, sealing the power couple’s fall from grace after a protracted legal battle. The Balkany couple, who for years governed the chic Paris suburb of Levallois-Perret,… Read More
29th April 2020
By Sanne Wass, S&P Global Market Intelligence, 27 April 2020 Read more at S&P Global Market Intelligence Photo (cropped and edited): Finn Årup Nielsen [CC BY-SA 3.0] RiskScreen: Eliminating Financial Crime with Smart Technology… Read More
27th April 2020
UBS Group AG appeal of a record 4.5 billion-euro ($4.9 billion) French fine for helping clients stash undeclared funds in offshore accounts was postponed over concerns related to coronavirus pandemic, according to people familiar with the case. Judges at the Paris Court of Appeals postponed the case, originally… Read More
21st April 2020
Accountancy firm EY has been ordered to pay $10.8m in damages to a whistleblower who claimed it covered up evidence of money laundering. Auditor Amjad Rihan sued EY after being forced out of his job in 2014. A year earlier, Mr Rihan led an audit that discovered Dubai’s biggest gold… Read More
2nd April 2020
The alternative financial system set up by the European Union to bypass US sanctions on Iran has had its first success 15 months after it was proposed. Britain, France and Germany were able to export medical goods under the Instex system. The Foreign Office said: “These goods are now in… Read More
2nd April 2020
A businessman who received millions of dollars for his work on Tokyo’s successful campaign to host the 2020 Olympics, which was postponed last week due to the coronavirus, said he played a key role in securing the support of a former Olympics powerbroker suspected by French prosecutors of taking bribes… Read More
10th March 2020
The ED is looking into more multi-crore rupees loans issued by Yes Bank to corporate houses that turned non-performing assets as part of its money laundering investigation against its arrested promoter Rana Kapoor, officials said on Monday, 9 March. They said the agency has widened its probe in the case… Read More
27th February 2020
A federal judge on Wednesday tossed all bribery charges on which a former executive at French industrial company Alstom SA (ALSO.PA) had been found guilty at trial, a setback for U.S. prosecutors in a case that has tested the scope of an anti-bribery law. The judge let stand the… Read More
25th February 2020
Digital bank Revolut mistakenly froze the accounts of a French company, trapping thousands of euros, in a blunder that has raised questions over its compliance processes as it grows at breakneck speed. Priorité Energie, which helps low-income families in Paris to insulate their homes under a government initiative, was told… Read More
18th February 2020
Equatorial Guinea argued on Monday that a luxury mansion in central Paris used by the son of the country’s president was protected by diplomatic immunity when it was raided by French authorities in 2012. The case at the International Court of Justice is seen as a test for the limits… Read More