Sunday, May 16, 2021

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Former Fall River Mayor Correia convicted for fraud, extorting marijuana businesses

The former mayor of Fall River, Mass., who was elected at 23 after pitching himself as an ambitious entrepreneur and product of the city, was convicted by a federal jury on Friday of defrauding investors of more than $200,000...

Two Taiwan banks fined for breaching anti-money laundering laws

The Financial Supervisory Commission (FSC) yesterday fined Citibank Taiwan Ltd (花旗台灣) NT$10 million (US$357,194) and DBS Bank Taiwan (星展台灣) NT$6 million for breaches of the nation’s anti-money laundering (AML) regulations. The NT$10 million fine is the highest penalty that it...

Former TPG Star Bill McGlashan jailed for three months in college admissions scam

A former senior executive at private equity firm TPG Capital was sentenced on Wednesday to three months in prison for participating in a vast U.S. college admissions fraud scheme by paying $50,000 to rig his son's college entrance exam...

Swiss Life agrees $77.4 million settlement in U.S. criminal tax evasion case

Swiss Life Holding AG (SLHN.S) agreed to pay $77.4 million and enter a deferred prosecution agreement to resolve a U.S. criminal case in which Switzerland's largest insurer was accused of helping wealthy American clients evade taxes. The three-year agreement announced on Friday...

Former president of Oklahoma-based First Mortgage Company pleads guilty to fraud, money laundering

A former president of an Oklahoma City-based mortgage company has pleaded guilty to defrauding two locally-based banks, Fannie Mae, and others over the course of three years. Officials say 70-year-old Ronald J. McCord was the former president of First Mortgage Company, an...

Ericsson agrees $97million settlement with Nokia in bribery probe

Ericsson has agreed to pay Nokia EUR 80 million (roughly $97 million) for a damages claim related to bribery and corruption investigations previously settled with U.S. authorities. In 2019 Ericsson was fined more than $1 billion to resolve separate but related cases...

U.S DoJ, IRS probe crypto exchange Binance over crypto crimes

Binance Holdings Ltd. is under investigation by the Justice Department and Internal Revenue Service, ensnaring the world’s biggest cryptocurrency exchange in U.S. efforts to root out illicit activity that’s thrived in the red-hot but mostly unregulated market. As part of...

3 current, former NYPD officers accused of taking bribes to steer damaged cars to tow firm

Three current and former NYPD officers from Long Island were hit with federal charges Tuesday alleging they took thousands of dollars in bribes as part of a scheme to improperly direct damaged cars to one particular tow truck company,...

Former North Macedonia PM Gruevski indicted in corruption case

North Macedonia’s Organised Crime Prosecution on Wednesday filed charges against the country’s fugitive former prime minister, Nikola Gruevski, and some of his former close associates, in a high-profile case linked to the illicit purchase of building sites. The charges focus...

Son-in-Law of Nigeria’s President Buhari wanted over $65 million fraud allegation

The Independent Corrupt Practices and other related offences Commission (ICPC) has declared Gimba Kumo, a son-in-law of President Muhammadu Buhari, and two others wanted over alleged misappropriation of $65 million National Housing Funds. Mr Kumo, a former managing director of the...

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