Sunday, March 7, 2021

Money Laundering

Former Bay Springs Clerk sentenced to prison for money laundering, tax fraud

The former City Clerk of Bay Springs was ordered to serve four years in federal prison and pay almost a half-million dollars in restitution after pleading guilty in U.S. District Court in Hattiesburg to money laundering and tax fraud. Randy...

Police probes husband of Malaysian central bank’s former governor over 1MDB corruption

Malaysian police said on Wednesday it was investigating the husband of the country’s former central bank head for allegedly receiving funds linked to 1MDB, a state fund at the centre of a massive corruption scandal. Malaysian and U.S authorities have...

Malaysia fines Deloitte $80m over 1MDB corruption scandal

Deloitte PLT agreed to a 324-million ringgit ($80 million) settlement with the Malaysian government to resolve all claims related to the firm’s audit of 1MDB and its former unit SRC International between 2011-2014. The payout is the largest 1MDB-related settlement by...

Arrest warrant issued against Mexico’s former state governor, his daughter in money laundering case

A federal judge in Mexico has ordered the arrest of a former governor of the state of Nayarit over money laundering charges. The daughter of former Nayarit Governor Roberto Sandoval Castaneda was also included in the arrest order. Mexico's Attorney...

Former Romanian President’s daughter sentenced to five years for money laundering

The Romanian Court of Appeal on Tuesday sentenced former President Traian Basescu’s daughter, Ioana Basescu, to five years in prison for her involvement in laundering money for her father’s electoral campaign. Former Tourism Minister Elena Udrea, who went on the...

Malaysia’s AmBank agrees to $700m settlement for role in 1MDB scandal

Malaysian banking group AMMB Holdings Berhad (AmBank) said on Friday it will pay the government 2.83 billion ringgit ($699 million) to settle claims linked to a massive financial scandal at state fund 1MDB, a hefty payment that is expected...

FATF adds Cayman Islands, Morocco, Burkina Faso, Senegal on watch list

Four jurisdictions, including the Cayman Islands and Morocco, will undergo increased monitoring as they face pressure from a global watchdog to address deficiencies in their anti-money-laundering efforts. The Financial Action Task Force, a Paris-based organization that sets anti-money-laundering law standards,...

Swedbank declines to sue ex-CEO and board over money laundering violations in Baltics

Swedbank said on Thursday it had resolved not to file claims for damages against its former top executive and board for the fiscal year 2019, when the Swedish banking group came under investigation over money-laundering breaches in the Baltics. The...

Turkey jails pilots, airline official for their roles in the escape of ex-Nissan CEO Ghosn

A Turkish court convicted an official from a private airline and two pilots Wednesday for involvement in former Nissan Motor Co. chairman Carlos Ghosn’s dramatic escape out of Japan in 2019, and sentenced them each to four years and...

Former Latvian mayor sentenced to five years for bribery and money laundering

One of the most influential figures in Latvian politics has been sentenced to five years in prison for corruption. Aivars Lembergs, the mayor of the city of Ventspils since 1988, was convicted by a court in Riga on Monday of...

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U.S. sanctions Ukrainian tycoon Ihor Kolomoisky over money laundering allegations

The State Department sanctioned one of Ukraine’s most powerful tycoons, Ihor Kolomoisky, as U.S. authorities also pursue a civil...
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