Thursday, October 22, 2020

Africa

Mozambique seeks prosecution of ex-Credit Suisse bankers implicated in debt scandal

Mozambique's Attorney General's Office said on Wednesday it will seek the extradition of three former Credit Suisse CSGN.S bankers implicated in a $2 billion debt scandal that sent the country's economy into crisis. Andrew Pearse, Detelina Subeva and Surjan Singh, who helped...

Liberian President seeks US help over death of auditors linked to £100m corruption scandal

The suspicious deaths of four finance officials in Liberia have raised fears of a murder plot linked to corruption scandals that include the disappearance of £100 million in new banknotes. President Weah has appealed for help from the US over...

Former VBS Mutual Bank CFO gets 10 years for fraud, money laundering

Former VBS Mutual Bank chief financial officer Phillip Truter was on Wednesday sentenced to an effective seven years in prison for his role in the looting of the bank. Truter was the eighth suspect who appeared in the Johannesburg Specialised...

Nigeria’s Attorney General Malami accused of conspiracy in money laundering case against ex-First bank director

More insights into the real reason the Economic and Financial Crimes Commission dropped a case of money laundering against a former Executive Director of First Bank Plc, Dauda Lawal, has unfolded. Lawal, who was being tried by the anti-graft agency for allegedly...

Top Nigerian law firm flagged for suspicious money laundering activities in the US

A law firm owned by Rickey Tarfa, a senior lawyer facing trial over bribery allegations in Nigeria, has appeared in leaked suspicious activity reports filed with the United States’ Financial Crimes Enforcement Network (FinCEN). The SAR filed on Rickey Tarfa &...

Zimbabwe’s former minister Machaya sentenced to 30 months in prison for corruption

Former Midlands Provincial Affairs Minister Jason Machaya was yesterday jailed for an effective two-and-a-half years after being convicted on abuse of office charges involving the illegal allocation of 17,799 commercial and residential stands on State land in Gokwe. Machaya (68)...

Nigeria’s former vice-president Atiku Abubakar, family flagged for suspicious money laundering

Ahead of Nigeria’s 2019 general elections, perennial presidential hopeful, Atiku Abubakar, mounted an intense campaign to untangle his candidacy from a public perception that he is corrupt. This is what his opponents have always latched on to. But in 2019,...

Somali money transfer companies aided suspected weapons traffickers in moving millions

Somali money transfer companies moved more than $3.7 million in cash between suspected weapons traffickers in recent years, including to a Yemeni under U.S. sanctions for alleged militant links, according to a report seen by Reuters. The findings by a...

Dutch prosecutors probes firm linked to husband of Angolan billionaire Isabel dos Santos

Dutch prosecutors have begun a criminal investigation into how a company owned by Sindika Dokolo, the husband of billionaire Angolan businesswoman Isabel dos Santos, managed to acquire a lucrative shareholding in the Portuguese oil and gas firm, Galp. The Public...

US sanctions Gambia’s former first lady Zineb Jammeh

Zineb Jammeh, the wife of Gambia’s former president, Yahya Jammeh, has been hit with U.S. sanctions for her role in the economic plunder of the tiny West African county during her husband’s 22-year rule, the U.S. Treasury said on...

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Goldman Sachs agrees $3 billion settlement with US DoJ over 1MDB corruption scandal

Goldman Sachs has agreed to pay nearly $3bn (£2.3bn) in the US to end a probe of its role in Malaysia's 1MDB corruption scandal. The...

UK regulators fine Goldman Sachs £97 million over 1MDB scandal

Goldman Sachs International has been fined £96.6m by UK regulators for risk management failures connected to the 1MDB scandal. The Financial Conduct Authority and Prudential...

Hong Kong fines Goldman Sachs $350 million over 1MDB scandal

Goldman Sachs ignored multiple red flags over the multibillion-dollar fundraisings it arranged for state fund 1Malaysia Development Berhad, Hong Kong’s financial regulator said on...

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