Saturday, June 19, 2021

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Malaysia: 1MDB Money laundering probe extends into Umno

The probe into 1Malaysia Development Bhd (1MDB) has extended into Umno as investigators go on the money trail of billions that have gone unaccounted from the fund. The Malaysian Anti-Corruption Commission (MACC) froze the bank accounts of the Umno headquarters...

South Korea ex-finance minister gets 5 years in prison for bribery

A Seoul court sentenced former Finance Minister Choi Kyung-hwan to five years in prison on Friday for taking bribes from the spy agency while in office. The Seoul Central District Court also ordered Choi, who is currently a lawmaker of...

Vijay Mallya accused India govt of non-corporation in fraud case

The fugitive liquor baron Vijay Mallya today hit out at the government and its investigative agencies for making him the 'poster boy' of bank defaults. In a detailed five-page letter, the beleaguered tycoon claimed that despite making two public offers...

Former Indian footballer Bhowmick jailed for bribery

The special CBI court here on Monday sentenced former Indian footballer and East Bengal football club's Technical Director Subhash Bhowmick to three years imprisonment after convicting him in a 2005 bribery case. The court also slapped a fine of Rs...

Karachi court indicts Axact CEO in money laundering case

An additional district and sessions court on Wednesday indicted Axact chief executive Shoaib Shaikh and others in a multi-million money laundering case. District and Sessions judge (South), during a hearing of the case earlier today, announced the indictment. Along with...

South Korea’s Bithumb loses $31.5m worth of virtual coins in cryptocurrency heist

The South Korean cryptocurrency exchange Bithumb said 35bn won ($31.5m) worth of virtual coins were stolen by hackers, the second local exchange targeted in just over a week as cyber thieves exposed the high risks of trading the digital...

Commonwealth Bank fined $700m over anti-money laundering breaches

The Commonwealth Bank has 28 days to pay a $700 million fine imposed by the Federal Court over legal breaches that enabled criminals to launder money through its ATMs. CBA has admitted to breaking laws designed to stop money laundering...

Court approves settlement of money-laundering charges against Commonwealth Bank of Australia

Commonwealth Bank of Australia on Wednesday said the Federal Court had approved a settlement agreement to civil proceedings related to money laundering charges, closing a chapter that has cost the bank A$700 million (393.5 million pounds) in penalties. The proceedings...

Former Ito Mayor Tsukuda in central Japan arrested for bribery

Police raided the home of Hiromi Tsukuda, the former mayor of Ito, Shizuoka Prefecture, on Sunday after arresting him the previous day on suspicion of bribery in connection with land purchased by the municipality. Also arrested Saturday were Keijiro Mori,...

China’s Former Top Insurance Regulator admits to $3million bribes

On June 14, Xiang Junbo, former chairman of the China Insurance Regulatory Commission (CIRC), pleaded guilty to taking bribes worth over 19.4 million yuan ($3.03 million) during his trial at the Changzhou Intermediate People’s Court of Jiangsu Province, according to...

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