Friday, January 21, 2022

Money Laundering

Former Swiss Bank CEO Acquitted in Gulf Money-Laundering Case

The former boss of a defunct Zurich bank was acquitted of laundering 133 million euros ($150 million) for a Gulf businessman convicted in the 1MDB scandal. Eduardo Leemann, the ex-chief executive officer of Falcon Bank, was found not guilty of...

Standard Chartered Bank fined $62 million for regulatory failures

The Bank of England said on Monday it was fining Standard Chartered (STAN.L) 46.55 million pounds ($61.51 million) for misreporting its liquidity position to the regulator and for failings in its controls. The Prudential Regulation Authority (PRA) said the fine...

Son of Panama ex-president pleads guilty to money laundering

A son of Panama’s former president, Ricardo Martinelli, pleaded guilty Tuesday in New York to laundering $28 million in connection with a massive bribery scheme involving a global construction conglomerate. Ricardo Martinelli Linares, 42, was extradited to the U.S. last...

Malta’s Bank Of Valletta fined €2.6million over money-laundering breaches

Bank of Valletta has been hit with a massive €2.6 million fine by Malta’s Financial Intelligence Analysis Unit over breaches of money laundering legislation. The administrative fine was announced by the FIAU this morning. According to the financial crime watchdog,...

HSBC fined $85million for UK anti-money laundering failings

HSBC (HSBA.L) has been fined 64 million pounds ($85 million) by British regulators for failings in its anti-money laundering processes spanning eight years. The Financial Conduct Authority (FCA) said it had found that three key parts of HSBC's transaction monitoring systems in...

Former Netflix executive sentenced to 30 months for taking bribes

A federal judge sentenced a former Netflix executive to 30 months in prison Tuesday after he was convicted on several charges of fraud and money laundering back in April. A jury convicted Michael Kail, the former Vice President of IT...

President Macron’s ex-bodyguard arrested over money laundering

Alexandre Benalla, French President Emmanuel Macron's disgraced ex-bodyguard, was placed under formal investigation on Tuesday over a security contract signed by an associate with a Russian oligarch, according to security sources. Benalla, who was fired in 2018 after being filmed assaulting protesters,...

Swiss drop money-laundering case involving Spain’s former King Juan Carlos

Geneva's chief prosecutor said on Monday he had closed a criminal investigation into allegations Spain's former king Juan Carlos laundered "illegal commission" payments from Saudi Arabia, due to insufficient evidence. A Swiss private bank involved in the three-year criminal probe...

NatWest fined £265m for violating money-laundering rules

British bank NatWest was fined 264.8 million pounds ($354.30 million) on Monday for failing to comply with money laundering rules in a case that marked the first time U.K. financial regulators pursued criminal charges for such violations. The fine was...

Mining Billionaire Beny Steinmetz arrested at Athens airport

Beny Steinmetz, the Israeli billionaire convicted of bribery weeks apart in Romania and Switzerland, is stuck in Greece after being arrested by local police over two weeks ago when the private jet he was on landed at Athens airport. Steinmetz...

Latest News

Ex-Detroit Councilman Andre Spivey Sentenced To Two Years In Prison For Bribery

A federal judge sentenced former Detroit City Councilman Andre Spivey on Wednesday to two years in prison for bribery, capping the first case...