Sunday, May 16, 2021

sanctions

NCAA sanctions Oklahoma State men’s basketball team over bribery probe

Coach Mike Boynton had one hour before the storm hit. At 9:20 a.m. Friday morning, he first received word that NCAA sanctions were coming. Forty minutes later, he rushed to contact each of Oklahoma State’s 13 men’s basketball players before...

Huawei CFO gets closer to U.S. extradition after losing court case

A British Columbia Supreme Court judge ruled against Huawei’s chief financial officer Meng Wanzhou on Wednesday, dismissing one of the key arguments by the daughter of the company's founder in her fight against extradition from Canada to the United...

U.S. orders Chevron to stop producing oil in Venezuela

The Trump administration on Tuesday gave Chevron Corp (CVX.N), the last major U.S. oil company still operating in Venezuela, until Dec. 1 to “wind down” its business in the OPEC member-nation and will allow it to conduct only severely...

Industrial Bank of Korea fined $35 million for U.S. sanctions violation

Industrial Bank of Korea, one of South Korea’s largest banks, will pay $86 million to settle U.S. and New York state criminal and civil charges it allowed an illegal transfer of more than $1 billion to Iran that violated...

Turkish bank Halkbank pleads not guilty to Iran sanctions violation

A Turkish state-run bank pleaded not guilty Tuesday to allegations it funneled billions of dollars to Iran in violation of U.S. sanctions. Officials representing Halkbank entered the plea during a teleconference arraignment with U.S. District Judge Richard Herman of the...

UK fines Standard Chartered for violating Russia Sanctions

U.K. authorities have fined Standard Chartered PLC for violating sanctions that the European Union imposed on Russia following its annexation of the Crimea region of Ukraine in 2014. The British bank must pay £20.47 million ($25.41 million) for violating the...

Pilatus Bank owner Ali Sadr convicted of fraud and sanctions violation

Former Pilatus Bank chair Ali Sadr has been convicted of bank fraud, conspiracy to commit bank fraud, defrauding the United States and busting sanctions against Iran. He was, however, cleared of conspiracy to commit money laundering and faces a maximum...

Pakistan’s largest bank shows irregularities after U.S. Sanction

A Middle East operation of Pakistan’s largest bank displayed “significant irregularities” in dealings with politically exposed clients and screening some transactions, according to an inspection by the South Asian nation’s central bank that took place more than a year...

Iranian bank officials face prosecutions for money laundering and sanctions violation

Bahrain's prosecution on Thursday submitted a case involving several people accused of money laundering for Iran and violating sanctions on Tehran through the Manama-based Future Bank. Attorney General Ali bin Fadhel al-Buainain said: “Bahrain's Public Prosecution Office has sent over...

Canada prosecutors persist on fraud charges against Huawei CFO Meng’s in U.S. extradition case

Huawei Chief Financial Officer Meng Wanzhou returned to a Vancouver courtroom on Wednesday where Canadian prosecutors defended a U.S. extradition request, saying Meng’s alleged bank fraud is the heart of the case that has strained relations between Ottawa and...

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UK’s financial crime unit probes suspected fraud in Sanjeev Gupta’s business ties to Greensill Capital

Britain’s financial crime unit is investigating suspected fraud and money laundering involving the businesses of Sanjeev Gupta, whose global...