22nd March 2019
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
22nd March 2019
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
22nd March 2019
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
22nd March 2019
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
22nd March 2019
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
22nd March 2019
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
22nd March 2019
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
22nd March 2019
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
21st March 2019
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
21st March 2019
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