Sunday, May 16, 2021

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Former Rockbridge County jail superintendent gets 51 months in prison for corruption

The former superintendent of the Rockbridge County Regional Jail has been sentenced to 51 months in federal prison for charges related to federal civil rights violations and public corruption, the Department of Justice (DOJ) announced on Tuesday. After a six-day...

UK’s financial crime unit probes suspected fraud in Sanjeev Gupta’s business ties to Greensill Capital

Britain’s financial crime unit is investigating suspected fraud and money laundering involving the businesses of Sanjeev Gupta, whose global metals empire ballooned in recent years with the aid of billions of dollars in financing from the failed firm Greensill...

Former Fall River Mayor Correia convicted for fraud, extorting marijuana businesses

The former mayor of Fall River, Mass., who was elected at 23 after pitching himself as an ambitious entrepreneur and product of the city, was convicted by a federal jury on Friday of defrauding investors of more than $200,000...

Two Taiwan banks fined for breaching anti-money laundering laws

The Financial Supervisory Commission (FSC) yesterday fined Citibank Taiwan Ltd (花旗台灣) NT$10 million (US$357,194) and DBS Bank Taiwan (星展台灣) NT$6 million for breaches of the nation’s anti-money laundering (AML) regulations. The NT$10 million fine is the highest penalty that it...

Former TPG Star Bill McGlashan jailed for three months in college admissions scam

A former senior executive at private equity firm TPG Capital was sentenced on Wednesday to three months in prison for participating in a vast U.S. college admissions fraud scheme by paying $50,000 to rig his son's college entrance exam...

Swiss Life agrees $77.4 million settlement in U.S. criminal tax evasion case

Swiss Life Holding AG (SLHN.S) agreed to pay $77.4 million and enter a deferred prosecution agreement to resolve a U.S. criminal case in which Switzerland's largest insurer was accused of helping wealthy American clients evade taxes. The three-year agreement announced on Friday...

Former president of Oklahoma-based First Mortgage Company pleads guilty to fraud, money laundering

A former president of an Oklahoma City-based mortgage company has pleaded guilty to defrauding two locally-based banks, Fannie Mae, and others over the course of three years. Officials say 70-year-old Ronald J. McCord was the former president of First Mortgage Company, an...

Ericsson agrees $97million settlement with Nokia in bribery probe

Ericsson has agreed to pay Nokia EUR 80 million (roughly $97 million) for a damages claim related to bribery and corruption investigations previously settled with U.S. authorities. In 2019 Ericsson was fined more than $1 billion to resolve separate but related cases...

U.S DoJ, IRS probe crypto exchange Binance over crypto crimes

Binance Holdings Ltd. is under investigation by the Justice Department and Internal Revenue Service, ensnaring the world’s biggest cryptocurrency exchange in U.S. efforts to root out illicit activity that’s thrived in the red-hot but mostly unregulated market. As part of...

3 current, former NYPD officers accused of taking bribes to steer damaged cars to tow firm

Three current and former NYPD officers from Long Island were hit with federal charges Tuesday alleging they took thousands of dollars in bribes as part of a scheme to improperly direct damaged cars to one particular tow truck company,...

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