14th April 2020
A former banker at Goldman Sachs Group Inc. arranged for millions of dollars in bribes to be paid to government officials in Ghana to help a client win a power-plant contract, U.S. regulators said Monday in a civil lawsuit. The Securities and Exchange Commission alleges that Asante Berko, a… Read More
2nd April 2020
U.K. authorities have fined Standard Chartered PLC for violating sanctions that the European Union imposed on Russia following its annexation of the Crimea region of Ukraine in 2014. The British bank must pay £20.47 million ($25.41 million) for violating the EU’s sanctions against Russia, the U.K. Treasury’s Office of… Read More
1st April 2020
Not even a pandemic’s relentless spread could stop the prosecution of Turkey’s state-run Halkbank, which pleaded not guilty Tuesday to a record-breaking money-laundering scheme. “First of all, welcome everybody,” said U.S. District Judge Richard Berman, greeting listeners across the globe who called in this morning for the extraordinary hearing. “We… Read More
31st March 2020
Rising numbers of Iranians are using a sanctions-busting scheme to buy property in Turkey and claim citizenship. Using a network of money transfer offices, mostly in Istanbul, they are able to move funds out of accounts in Iran, even though US embargoes have severed the country’s banks from international payment… Read More
23rd March 2020
As Turkey grapples with the coronavirus pandemic, the March 17 arrest of Azeri-Turkish billionaire Mubariz Mansimov Gurbanoglu failed to draw the attention it deserves. Gurbanoglu was arrested on terrorism charges, part of what he alleges is a web of collusion between global energy giants and Turkish prosecutors. Gurbanoglu, 52, was a former ally… Read More
21st February 2020
Over the past year, Pakistan says it has “fought and eradicated the menace of terrorism from its soil” by carrying out arrests, seizing property and freezing bank accounts of groups designated as terrorists by the United States and the United Nations. Analysts and current and former U.S. officials predict these… Read More
20th February 2020
Turkey has until the end of the year to comply with European Union demands on tax transparency, or else risk being added to a list of countries that could face financial sanctions, according to Austrian Finance Minister Gernot Blüemel. The EU’s 27 finance ministers meeting in Brussels determined that Turkey… Read More
20th February 2020
European Union finance ministers added Panama, the Seychelles, the Cayman Islands and Palau to the EU’s blacklist of tax havens, while giving Turkey more time to avoid being listed, an EU document said on Tuesday. The list, which was set up in 2017 after revelations of widespread tax evasion and… Read More
18th February 2020
A California businessman teamed up with a senior member of a secretive polygamist sect to defraud the US government of $470 million which he then used to buy fast cars and luxury homes, a court was told. Lev Dermen, the owner of a chain of Californian truck stops, and Jacob… Read More
17th February 2020
Turkish President Tayyip Erdogan on Friday said he would help Pakistan stay off a terrorism financing blacklist at a meeting of a global finance watchdog, a move he suggested would counter “political pressure” from Islamabad’s critics. The Financial Action Task Force (FATF), which tackles money laundering, told Islamabad late last… Read More