Monday, May 17, 2021

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Philippine SEC raises alarm on fraudulent ‘Abundance-Based’ Crypto investment scheme

The Philippines Securities and Exchange Commission (SEC) has flagged its third cryptocurrency scam this month, warning investors against a scheme dubbed “The Billion Coin” (TBC). Marketed as a so-called “abundance-based cryptocurrency,” the SEC said in an advisory on April 14 that TBCoin’s promoters present...

India businessman Vijay Mallya loses UK appeal against extradition to India to face fraud charges

Indian business tycoon Vijay Mallya lost an appeal in Britain's High Court on Monday against his extradition to India to face fraud charges. The allegations, which include money laundering, are related to the collapse of the now defunct Kingfisher Airlines that Mallya...

Lithuania close investigation in Alstom bribery case

Lithuanian prosecutors have closed their investigation into suspicions that France's Alstom bribed Lithuanian officials more than a decade ago to win public procurement contracts and ensure unhindered implementation of projects. The Prosecutor General's Office said on Monday afternoon that the...

Pakistan removes thousands of names from its terrorist watch list

Pakistan has removed thousands of names from its terrorist watch list in what the country says is an effort to meet its obligations ahead of a new round of assessments by a global anti-money-laundering watchdog. The so-called proscribed persons list,...

Denmark and Poland blocks companies registered in offshore tax havens from coronavirus bailout

Denmark and Poland are refusing to let companies registered in offshore tax havens access financial aid from their coronavirus bailout packages. The Danish finance ministry on Saturday extended its bailout program into July but stressed that firms based in tax havens would no longer be covered. "Companies...

Turkish Aksa Energy linked to Ghana bribery allegations

One of Turkey’s largest power producers is embroiled in allegations of corruption over a deal in Ghana brokered by a Goldman Sachs banker. Aksa Energy, which is publicly listed on the Istanbul stock exchange, is the unnamed energy company that...

Uganda arrests 37 Chinese nationals in tele fraud scheme

At least 37 Chinese nationals have been booked for fraud by the Ugandan authorities for running a tele fraud scheme while on a visitor visa in this African nation, according to local TV network NTV. They were caught from a...

China’s deputy public security minister faces corruption allegations

The Chinese deputy public security minister whose responsibilities include Hong Kong affairs has been placed under investigation by China’s main anti-corruption body. Sunday’s announcement that Sun Lijun was under investigation for “serious violations of discipline and the law”, an indication...

Oil firm Eni to pay $24.5 million for accounting corruption in Algeria graft case

The U.S. SEC said on Friday Italian oil and gas group Eni had agreed to settle charges it breached corruption accounting rules over “improper” payments by a former unit in Algeria. The Securities and Exchange Commission said in a statement...

Hong Kong fines China’s Bank of Communications branch for breaching anti-money launderings laws

Hong Kong’s markets watchdog said on Monday it had fined a local securities unit of one of China’s largest banks, Bank of Communications (3328.HK) (601328.SS), HK$19.6 million ($2.53 million) for a range of regulatory breaches. BOCOM International Securities Limited broke...

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Former Rockbridge County jail superintendent gets 51 months in prison for corruption

The former superintendent of the Rockbridge County Regional Jail has been sentenced to 51 months in federal prison for...