Featured Bahrain

Bahrain fines Iranian banks implicated in money laundering

Bahrain’s High Criminal Court sentenced three Future Bank officials to five years in prison each and to $1 million fines on Thursday, in the latest of a series of money-laundering cases by the Central Bank of Iran and other banks, the Bahrain News Agency reported. The court also sentenced the… Read More

Juan Carlos fled Spain amid a dirty money probe, but where did he go?

When Spain’s royal palace announced Monday that former Spanish King Juan Carlos was leaving the country, it omitted a key detail. Where exactly had he gone? On Monday, several media outlets reported the former king had traveled to the Portuguese town of Cascais, where he spent parts of… Read More

FBI and DEA in US and UK authorities called on to help snare Daniel Kinahan

The Irish government has asked authorities in America and the UK to use their political influence to help gardai pursue international drug trafficker Daniel Kinahan, who has become a big-time promoter in professional boxing. The move is part of a diplomatic strategy to build a “coalition” of governments and international… Read More
5th May 2020
The Border Force officers had struck gold, it seemed. Or at least extremely valuable clay. Two metal trunks stuffed with cuneiform tablets apparently shedding light on the ancient world had been seized at Heathrow, interrupting a smuggling chain that linked the looted treasures of Mesopotamia with Britain’s collectors. When the… Read More
5th May 2020
In 2010, Spain’s emeritus king Juan Carlos I was in Geneva to hand nearly $1.9 million (€1.7 million) – a gift he had allegedly received from the king of Bahrain – to Arturo Fasana, the manager of his Swiss bank account at the private lender Maribaud, according to the latter’s… Read More
27th March 2020
An information exchange between a Spanish judge and a Swiss prosecutor has shed new light on an ongoing investigation into alleged financial irregularities involving emeritus king Juan Carlos I, the father of Spain’s reigning monarch Felipe VI. Spain’s High Court, the Audiencia Nacional, has been waiting for the Swiss… Read More
14th February 2020
Bahrain launched legal proceedings on Thursday against a number of individuals and businesses involved in a vast money laundering scheme linked to state-owned Iranian banks. The operation allowed Iranian organizations, including some sanctioned for terror financing, to secretly move money internationally, the Kingdom’s prosecutors said. Billions of dollars were funneled… Read More
31st October 2019
Saudi Arabia, Qatar and five other Gulf nations joined the U.S. in imposing sanctions on a financing network controlled by Iran’s military and several men linked to the Tehran-backed Lebanese group Hezbollah. Top U.S. Treasury Department officials said the action is the largest ever by the Riyadh-based Terrorist Financing… Read More
30th July 2019
When Belarusian President Alexander Lukashenko met entrepreneur Viktor Prokopenya in March 2017, their discussion was scheduled to last for an hour but went on for three times that long. The meeting, Prokopenya said, ended with Lukashenko asking him to propose regulations to boost the country’s tech sector. Prokopenya worked with… Read More
23rd June 2019
UN officials have voiced concerns that alleged members of Al Qaeda and Islamic State are exploiting loopholes in the intergovernmental group’s sanctions to access blocked funds, The Wall Street Journal reported Wednesday. Under UN Security Council rules, blacklisted individuals can request to take back a portion of their frozen money… Read More
6th June 2019
Global financial bodies including the International Monetary Fund (IMF) and World Bank plan to be present at a U.S.-led conference on the Palestinian economy this month that the Trump administration has cast as an overture to its peace plan. The efficacy of the June 25-26 meeting in Bahrain has been… Read More
13th March 2018
The European Council has added three states to the Annex 1 list of non-cooperative jurisdictions, dubbed the EU tax blacklist, saying they have failed to make commitments at ‘a high political level’ to address issues raised. The Bahamas, Saint Kitts and Nevis and the US Virgin Islands were added on… Read More
25th October 2017
The United States on Wednesday imposed sanctions on individuals and an entity which it said were linked to sponsoring terrorism in Iraq, Syria and Yemen. The US Treasury’s Office of Foreign Assets Control (OFAC) issued the designations targeting leaders, financiers and facilitators of the Islamic State and al-Qa’ida… Read More