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27th July 2020

Goldman Sachs settles 1MDB dispute with Malaysia for $3.9 Billion

Goldman Sachs Group Inc. will pay $2.5 billion to the government of Malaysia for its role in the alleged theft of billions of dollars from a government investment fund, bringing the Wall Street bank close to ending one of the worst scandals in its history. Goldman also guaranteed… Read More

27th July 2020

Bankers who profited from Nordic hiring boom now in firing line

A few years ago, the biggest banks in one of the richest corners of the globe were adding thousands of jobs to a department that suddenly seemed more important than most others: compliance. But with headcount growing more than 10-fold in some cases, those same jobs are now at risk. Read More

27th July 2020

How U.S. taxpayer dollars may have bought a Kurdish strongman’s Beverly Hills mansions

Bribing one politician is bad. Bribing all the politicians is worse. The U.S. Department of Justice is investigating a group of companies in Kurdistan, Iraq’s semi-independent northern region, that appears to be doing the latter in order to secure a monopoly on Pentagon fuel contracts worth hundreds of… Read More

27th July 2020

Privatbank, in amended complaint, claims Kolomoyskiy, partner laundered nearly $800 million

Privatbank, the Ukrainian lender nationalized by the state in 2016, now claims its former owners laundered nearly $800 million through the United States. After analyzing additional bank records, Privatbank filed an amended complaint in a Delaware court on July 21 against tycoons Ihor Kolomoyskiy and Hennadiy Boholyubov, claiming the men… Read More

27th July 2020

HSBC caught in superpower tug of war

The Chinese social media app WeChat might seem to be an unusual place for HSBC to publicise a decision that could alter its history, but Peter Wong knew exactly what he was doing. With its 1.2 billion users, the platform offers a direct route into homes across the People’s Republic… Read More

27th July 2020

The Master Identity Thief: How Dartanyon Williams Stole Millions by the Age of 23

By the time Dartanyon Williams was 15-years-old, he was already an identity thief. At 19, he had begun to recruit accomplices twice his age to help build a criminal enterprise that ultimately netted him $3.1 million before his eventual arrest. What had begun as rudimentary payment card fraud using his father’s… Read More

24th July 2020

JPMorgan banked millions for Ghislaine Maxwell, as it had for Epstein

Prosecutors who are probing accused sex offender Ghislaine Maxwell haven’t identified the banks that helped her manage tens of millions of dollars. One of them was JPMorgan Chase & Co., according to people familiar with the matter. That’s another tie that Maxwell shares with Jeffrey Epstein, the late convicted… Read More

24th July 2020

Fake businesses are fooling real banks into processing online drug purchases

One website advertised dog products. Another advertised flowers; another, home decorations. All of them were really fronts to process payments for marijuana or designer drugs, prosecutors said. The Justice Department and the Federal Trade Commission have recently brought a string of criminal and civil cases accusing individuals and companies of… Read More

24th July 2020

Argentina confronts its multi-billion dollar offshore wealth problem

By Eli Moskowitz, OCCRP, 23 July 2020 OCCRP – As Argentina has been renegotiating its US$65 billion debt with foreign creditors, it is also grappling with the fact that up to six times that amount is believed to be held by its citizens and companies offshore. Repatriating a portion… Read More

23rd July 2020

U.S. banks given regulatory green light to safekeep cryptocurrencies

A leading U.S. banking regulator said on Wednesday that national banks may provide custody services for cryptocurrencies. The Office of the Comptroller of the Currency said in a new letter that providing custody and safekeeping services for cryptocurrencies, including holding “keys” needed to access cryptocurrency holdings, is a modern version… Read More

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