Monday, May 17, 2021

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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...

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...

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,...

Son-in-Law of Nigeria’s President Buhari wanted over $65 million fraud allegation

The Independent Corrupt Practices and other related offences Commission (ICPC) has declared Gimba Kumo, a son-in-law of President Muhammadu Buhari, and two others wanted over alleged misappropriation of $65 million National Housing Funds. Mr Kumo, a former managing director of the...

Main suspect in Vatican’s London real estate money laundering case arrested in UK

The main suspect in the Vatican’s corruption investigation into a London real estate venture was taken into custody Tuesday in London after he appeared for his first extradition hearing, his lawyers said. The British judge determined businessman Gianluigi Torzi was...

UK watchdog launches probe into collapse of Greensill Capital

The City watchdog has opened the door to a criminal prosecution of Greensill Capital and confirmed that it is investigating the failed lender. Nikhil Rathi, chief executive of the Financial Conduct Authority, said that the regulator was “investigating matters relating...

Malaysia’s 1MDB sues Deutsche Bank, JP Morgan, Coutts to recover $23 billion lost in corruption scandal

Malaysia's now-defunct 1MDB state fund is suing units of Deutsche Bank (DBKGn.DE), J.P. Morgan (JPM.N) and Coutts & Co to recover billions in alleged losses from a corruption scandal at the fund, court documents seen by Reuters showed. 1MDB is claiming $1.11 billion...

Texas lawyer jailed for 15 years for scamming drug traffickers

A Texas lawyer known as the D.W.I. Dude for specializing in defending clients charged with driving while intoxicated and drug possession was sentenced this week to more than 15 years in prison for a scheme to pocket money that...

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