24th May 2019
A federal judge on Thursday sentenced a former Las Vegas medical billing company operator who prosecutors called the ringleader of a $1.5 billion Ponzi scheme that bilked thousands of Japanese residents to 50 years in prison. Edwin Fujinaga, 72, the former chief executive of MRI International Inc, was sentenced by… Read More
24th May 2019
Ukraine’s largest lender, PrivatBank, has filed a lawsuit against former owner Ihor Kolomoisky in the Delaware Court of Chancery in the United States, the bank said in a statement on Thursday. The lawsuit is the latest in a series of legal battles between Kolomoisky and the Ukrainian authorities which nationalized… Read More
24th May 2019
AP — A former executive at Mexico’s state-owned oil company who was sanctioned this week by the comptroller’s office has been identified as Pemex’s former director Emilio Lozoya by the head of the country’s financial intelligence unit. Santiago Nieto, who investigates crimes for Mexico’s finance ministry, congratulated the comptroller via… Read More
24th May 2019
AP — The U.N. said it was informed that a Tunisian appeals court decided Tuesday to release Mocef Kartas, a U.N. expert monitoring sanctions against Libya, who was arrested following his arrival in Tunis on March 26 on suspicion of espionage. U.N. spokesman Stephane Dujarric said the U.N. is “very… Read More
24th May 2019
It’s been 30 years since the Sommet de l’Arche in Paris established the Financial Action Task Force (FATF) to combat money laundering. So where have we come to in Europe and what remains to be done? The last three decades are not without their accomplishments. Money laundering has been criminalised… Read More
23rd May 2019
Germany’s financial markets watchdog (BaFin) ordered the fintech N26 Bank on Wednesday to step up controls to ensure it is better protected against money laundering. In March the online bank, launched in 2013, made negative headlines when German newspapers reported that a customer’s account had been hacked and emptied of… Read More
23rd May 2019
AP — A New York judge refused Wednesday to block congressional subpoenas seeking financial records from two banks that did business with President Donald Trump, making it clear it wasn’t a close call. U.S. District Judge Edgardo Ramos said in a ruling delivered from the bench that Trump and his… Read More
23rd May 2019
The United States is preparing sanctions and criminal charges against Venezuelan officials and others suspected of using a military-run food aid program to launder money for President Nicolas Maduro’s government, according to people familiar with the matter. These actions are expected to be taken within the next three months as… Read More
23rd May 2019
Senior executives at eight banking institutions in China’s Tianjin were warned by the city’s top Communist Party official against corruption, the country’s graft-buster said on Wednesday. Tianjin’s Party boss Li Hongzhong criticized some officials at Tianjin’s financial institutions for having “lost morality” and “seriously violating the Party’s rules and discipline”,… Read More
23rd May 2019
Pakistani authorities should tighten supervision of traditional cash transfer methods as part of a wider overhaul of financial sector regulation to stem outflows of corrupt money, a British think-tank said. Pakistani Prime Minister Imran Khan was elected to power last year on an anti-corruption platform and vowed to bring home… Read More