17th July 2020
Investors are suing Deutsche Bank and its CEO Christian Sewing, alleging the bank made false and misleading statements before it agreed to pay a $150 million fine for compliance failures linked to disgraced financier Jeffrey Epstein. The lawsuit was filed on Wednesday in the U.S. District Court in Newark, New… Read More
16th July 2020
The U.S. is moving toward sanctions against energy companies involved in Russian pipelines to Europe and Turkey, escalating a threat to punish allies for pursuing projects that the U.S. argues will only benefit Russia. As Europe’s domestic gas supplies decline, the region is becoming more dependent on imported fuel. The… Read More
14th July 2020
The German government has officially proposed that the European Union impose sanctions on Russian individuals responsible for a large-scale hacking of the Bundestag five years ago, the German Press Agency reported Sunday. If agreed, the plan, which was recommended by Berlin last month, would be the first use of an… Read More
13th July 2020
The trio of clients that got Deutsche Bank AG in regulatory trouble this week had a shared back story: They were all castoffs of JPMorgan Chase and Co. Deutsche Bank moved millions of dollars across the globe for convicted sex offender Jeffrey Epstein in the past decade, and billions… Read More
10th July 2020
German prosecutors are looking into possible money laundering by executives at Wirecard AG, adding to ongoing probes related to potential fraud and fake accounting at the insolvent payments firm. A spokeswoman for the Munich public prosecutor said it was conducting several legal cases related to possible money laundering… Read More
9th July 2020
The Justice Department is examining whether scandal-plagued German payment company Wirecard AG played a critical role in an alleged $100 million bank-fraud conspiracy connected to an online marijuana marketplace, according to people familiar with the investigation. Two businessmen have already been charged in the alleged fraud, accused of… Read More
9th July 2020
When Deutsche Bank AG sought out Jeffrey Epstein as a client, he was a convicted Florida sex offender with a publicized taste for young eastern European women. The bank helped him send millions of dollars to his alleged co-conspirators. It handled transfers to women with Russian bank accounts. And… Read More
7th July 2020
Mastercard was warned about Wirecard’s links to an alleged laundering network in 2016, The Times can reveal. The payments group was handed details of Wirecard’s alleged links to a scheme that used bogus online stores to disguise the processing of high-risk payments, and Mastercard executives privately admitted to concerns about… Read More
7th July 2020
The coronavirus pandemic has already seen one major accounting fraud. There could be more to come. The implosion of digital payments company Wirecard has set off a huge scandal in Germany, where financial regulators, auditors and the firm’s supervisory board are being asked how they missed a $2 billion… Read More
3rd July 2020
The City regulator was warned last year that Wirecard was allegedly linked to a scheme that used fake online stores to disguise the processing of high-risk payments. The Financial Conduct Authority was given details of an operation whereby allegedly bogus ecommerce sites were used as a front for channelling online… Read More