1st May 2020
Nigeria must use money repatriated from funds looted by former military ruler General Sani Abacha on agreed public projects or be forced to “replace” it, the U.S. Justice Department said. The United States and the British dependency of Jersey agreed with the Nigerian government in Febuary to return $300 million… Read More
29th April 2020
In February, Abu Dhabi Commercial Bank PJSC Jersey Branch admitted failing to comply with counter-terror and anti-money-laundering regulations relating to two customers who withdrew huge sums of cash at a branch in the United Arab Emirates. It was fined £475,000 and ordered to pay costs of £25,000, after the Royal… Read More
7th April 2020
The U.K. has joined the U.S. in resisting a plan by the Nigerian government to hand nearly $110 million of funds the American authorities say was stolen by late dictator Sani Abacha to a top ruling party official. The three governments are involved in a dispute over investment portfolios worth… Read More
16th March 2020
The recent, turbulent history of the Dick family reads like a Netflix reboot of Bleak House. For this is the tale of an unending court case involving the recent sale of a fabulous mansion in one of Britain’s better known tax havens, home to a man whose rags-to-riches life could… Read More
26th February 2020
Despite attempts by the Muhammadu Buhari administration to deny the transfer of $110 million stolen from Nigeria’s treasury by late military tyrant, Sani Abacha, to Mr Abacha’s most profligate money launderer and current governor of Kebbi State, Abubakar Bagudu, United States court papers obtained by PREMIUM TIMES show that… Read More
6th February 2020
A Middle-Eastern bank has been fined £475,000 by Jersey’s Royal Court for failing to abide by money-laundering laws. The Abu Dhabi Commercial Bank Jersey Branch (ADCBJ) pleaded guilty to failing to have appropriate or consistent policies and procedures in place relating to risk management and transaction monitoring. The Court said… Read More
5th February 2020
The United States and the British dependency of Jersey have agreed with Nigeria to repatriate more than $300 million in funds stolen by former military ruler General Sani Abacha, the three governments said. Abacha ruled Nigeria, Africa’s biggest oil producer, from 1993 until his death in 1998. Corruption watchdog Transparency… Read More
15th January 2020
British offshore tax havens will send information about Russian assets registered in their jurisdictions to the Russian tax authorities, despite London and Moscow having cancelled an international agreement which facilitates the sharing of such financial information. Jersey, Guernsey and the Isle of Man are set to share details on bank… Read More
11th October 2019
The Cayman Islands said on Wednesday it would make public information on the beneficial ownership of companies, prompting anti-corruption campaigners to call on other offshore jurisdictions to follow suit as part of a global crackdown on money-laundering. The Cayman Islands government said it expected public registers of beneficial ownership –… Read More
30th July 2019
John Christensen called Jersey home. A native of the scenic isle off England’s southern coast, he was a government economist with a hillside villa that had views of France. “I was set,” Christensen said last month in an interview at a London cafe. “We had a pretty good lifestyle and… Read More