Citigroup to sell Venezuelan gold in setback to President Maduro: sources
22nd March 2019
Citigroup to sell Venezuelan gold in setback to President Maduro: sources
Citigroup Inc plans to sell several tons of gold placed as collateral by Venezuela’s central bank on a $1.6 billion loan after the deadline for repurchasing them expired this month, sources said, a setback for President Nicolas Maduro’s efforts to hold onto the country’s fast-shrinking reserves. Maduro’s government has since… Read More
FIFA gives life ban to Ecuador official for bribery
22nd March 2019
FIFA gives life ban to Ecuador official for bribery
AP — The FIFA ethics committee has given a life ban to a South American soccer official who took bribes linked to the Copa America and Copa Libertadores. FIFA says Luis Chiriboga, a former Ecuador soccer federation president, has also been fined 1 million Swiss francs ($1 million). It is… Read More
Hezbollah sanctions harming Lebanon, says President Aoun
22nd March 2019
Hezbollah sanctions harming Lebanon, says President Aoun
U.S. sanctions on Hezbollah are harming Lebanon as a whole, President Michel Aoun said on Thursday ahead of a visit to the country by U.S. Secretary of State Mike Pompeo. The United States deems the heavily armed, Iran-backed Hezbollah group a terrorist organization and has been steadily increasing financial sanctions… Read More
Russian tycoon Kerimov back under investigation in France over tax
22nd March 2019
Russian tycoon Kerimov back under investigation in France over tax
A French judge placed Russian tycoon Suleiman Kerimov back under formal investigation on suspicion of complicity in aggravated tax fraud, the prosecutor in the southern city of Nice said on Wednesday. French investigators allege that Kerimov, whose family controls Russia’s largest gold producer Polyus, deceived the tax man over the… Read More
Reliance sends fuel from India, Europe to Venezuela to sidestep U.S. sanctions
22nd March 2019
Reliance sends fuel from India, Europe to Venezuela to sidestep U.S. sanctions
India’s Reliance Industries is selling fuels to Venezuela from India and Europe to sidestep sanctions that bar U.S.-based companies from dealing with state-run PDVSA, according to trading sources and Refinitiv Eikon data. Reliance had been supplying alkylate, diluent naphtha and other fuel to Venezuela through its U.S.-based subsidiary before Washington… Read More
Foreigners sell Danish shares after Danske Bank scandal: central bank
22nd March 2019
Foreigners sell Danish shares after Danske Bank scandal: central bank
Foreign investors sold Danish shares worth almost $14 billion in 2018 following a money laundering scandal at the country’s largest lender Danske Bank, Denmark’s central bank governor said on Wednesday. Danske Bank is under investigation in the United States, Denmark, Estonia, France and Britain over 200 billion euros ($226 billion)… Read More
Breakdown: The Kleptocracy Asset Recovery Rewards Act
22nd March 2019
Breakdown: The Kleptocracy Asset Recovery Rewards Act
On January 9th, US Rep. Stephen Lynch (D-MA) introduced H.R. 389, a measure that would “authorize the Secretary of the Treasury to pay rewards under an asset recovery rewards program to help identify and recover stolen assets linked to foreign government corruption and the proceeds of such corruption hidden… Read More
UK Serious Fraud Office’s first use of Criminal Finances Act tool nets £1.5 million
22nd March 2019
UK Serious Fraud Office’s first use of Criminal Finances Act tool nets £1.5 million
Britain’s Serious Fraud Office (SFO) has secured the forfeiture of £1.52 million over a fraudster’s properties using new powers under the 2017 Criminal Finances Act. The properties were originally purchased with fraudulently obtained cash by Birmingham-based Nisar Afzal (61), who fled Britain for Pakistan in the mid-2000’s, according to the… Read More
UK regulator fines UBS £27.6m for making millions of errors, poor transaction reporting
21st March 2019
UK regulator fines UBS £27.6m for making millions of errors, poor transaction reporting
The Financial Conduct Authority has penalised UBS £27.6 million for making over 100 million errors and failing to provide accurate information regarding the reporting of transactions. The shortcomings relate to transaction reports made from 2007, up to as recent as 2017. The bank also failed to take ‘reasonable’ care to… Read More
Police seize $20 million of fake notes from Barclays Kenya deposit box
21st March 2019
Police seize $20 million of fake notes from Barclays Kenya deposit box
Authorities in Kenya have arrested six individuals regarding $20 million in counterfeit notes that were stored in a personal safety deposit box at a branch of Barclays Kenya. “The fake notes in 100 Dollar denominations were recovered from the Bank’s Safe Room,” the Kenyan Directorate of Criminal Investigations (DCI) said… Read More
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