Sunday, November 28, 2021

Money Laundering

Hong Kong watchdog charged former lawmaker Chim Pui-chung with fraud, money laundering

Hong Kong’s anti-corruption watchdog on Friday charged former lawmaker Chim Pui-chung and his son conspiracy to defraud the Hong Kong Stock Exchange and a listed company over an alleged “backdoor listing” agreement and money laundering. The ICAC said that Chim,...

Hong Kong fines ICBC, UBS units, others $5.7m for violating anti-money laundering rules

Hong Kong's banking regulator has fined four banks, including local units of Industrial and Commercial Bank of China (601398.SS) and UBS (UBSG.S), a combined HK$44.2 million ($5.67 million) for breaches of anti-money laundering rules. The four banks had failed to...

Montenegro President Milo Djukanovic faces probes over alleged involvement in money-laundering ring

Montenegro’s specialised prosecution has launched a probe into allegations by Albanian oil businessman Rezart Taci that President Milo Djukanovic has been participating in an international money laundering scheme, public broadcaster RTCG reported on November 17. Earlier in November, BIRN published...

University of Miami professor gets jail for Venezuela money laundering scheme

Bruce Bagley is a noted expert on crime and corruption in Latin America, writing books on the topic and serving as a go-to person for journalists. But at the same time, prosecutors said, Dr. Bagley, a retired University of Miami...

Luxembourg investigates Lebanon’s Central Bank governor Riad Salameh over alleged money laundering

Luxembourg judicial authorities have opened "a criminal case" in relation to Lebanese Central Bank Governor Riad Salameh and his companies and assets, a judicial representative of the European Union country told Reuters on Monday. A representative of Lebanon's Central Bank said Mr Salameh had...

Swiss watchdog faults two more banks for role in PDVSA money-laundering probe

Switzerland's financial regulator reprimanded two more Swiss banks for breaching their obligations to combat money laundering as it wrapped up a five-year investigation into banks' dealings with people linked to Venezuela's state oil company PDVSA. The FINMA watchdog contacted 30...

Rabobank faces punishment over anti-money laundering failings

Dutch cooperative Rabobank (RABO.UL) said on Monday it had been ordered by the Dutch central bank to fix its customer due diligence practices and that it is facing a "punitive enforcement procedure." In a statement, Rabobank said it had received...

Guatemala extradite son of ex-Panama president to U.S. on money laundering charges

Guatemala has extradited a son of former Panamanian president Ricardo Martinelli to the United States, where he and his brother face bribery and money laundering charges linked to Brazilian construction firm Odebrecht. Luis Enrique Martinelli on Monday morning boarded an...

LA-area casino to pay $500,000 for allowing high roller to gamble huge sums in duffle bags

A Los Angeles-area casino will pay $500,000 to settle allegations that it violated anti-money laundering laws by failing to properly file reports about a Chinese player who spent millions in cash, authorities announced Friday. The Bicycle Hotel & Casino in...

Nigeria’s ex-pension boss Maina found guilty of money laundering charges

The Federal High Court in Abuja on Monday found Abdulrasheed Maina, the former chairman of the now-defunct Pension Reformed Task Team guilty of money laundering. In a judgement being delivered by Justice Okon Abang, the court held that the prosecutor,...

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Former head of Brazil Olympics Committee gets 30 years in jail for buying votes for Rio 2016 games

The longtime head of the Brazilian Olympic Committee was reportedly sentenced to 30 years in prison for buying votes...