Saturday, May 21, 2022

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Nigeria’s Accountant General suspended over N80bn fraud

Ahmed Idris, Nigeria’s Accountant General of the Federation, who was on Monday arrested by the Economic and Financial Crimes Commission (EFCC) over an alleged N80bn fraud has been suspended indefinitely by the Minister of Finance, Budget and National Planning,...

Veteran Miami DEA agents charged in bribery conspiracy

A current U.S. Drug Enforcement Administration agent and a former supervisor in the agency were charged Friday with leaking confidential law enforcement information to defense lawyers in Miami in exchange for $70,000 in cash. A five-count indictment unsealed in New...

Wells Fargo Advisors fined $7 million as SEC probes failures in money-laundering oversight

Wells Fargo Advisors, a subsidiary of banking giant Wells Fargo & Company, has agreed to pay $7 million to settle charges that it violated federal anti-money laundering statutes by failing to file suspicious activity reports, the U.S. Securities and...

Former commissioner of drainage district and wife convicted of fraud

The former commissioner of an East King County drainage district and his wife were convicted Thursday in federal court on charges that they stole tax dollars intended for flood control. A jury found Allan and Joann Thomas guilty of conspiracy,...

Former Georgia insurance commissioner indicted on federal health care fraud, money laundering charges

A federal grand jury in Atlanta returned an indictment Friday against former State Insurance and Fire Commissioner John Oxendine, accusing him of a scheme to defraud major healthcare providers. The two count indictment accuses Oxendine of conspiracy to commit health care fraud...

US lands top spot as world’s biggest enabler of financial secrecy in new index

The United States is the world’s largest enabler of financial secrecy, surpassing notorious tax havens like Switzerland, the Cayman Islands and Bermuda, according to an analysis by the Tax Justice Network released today. For the first time, the U.S. tops...

Nigeria: Former Speaker of the House of Reps Arrested over Suspicious Payments

The Economic and Financial Crimes Commission (EFCC) has arrested and detained a former Speaker of the House of Representatives, Patricia Etteh, PREMIUM TIMES can authoritatively report. Mrs Etteh, who was Speaker between June 6, 2007, and 30 October 30, 2007, was arrested...

Goldman Sachs Officials Reach $79.5 Million Shareholder Settlement Over 1MDB Scandal

Goldman Sachs Group Inc (GS.N) officers and directors reached a $79.5 million settlement to resolve shareholder claims that their poor oversight contributed to the bank being enmeshed in the looting scandal at Malaysia's 1MDB sovereign wealth fund. A preliminary settlement...

BitMEX Co-Founders Slapped with $30 Million Fine

The Commodity Futures Trading Commission (CFTC) announced on Thursday that a New York court entered a consent order against all three co-founders of crypto derivatives exchange BitMEX, Arthur Hayes, Benjamin Delo and Samuel Reed. They have been ordered to pay a...

Grand jury charges Hampton banker Russell Laffitte in Murdaugh fraud conspiracy case

Former Hampton, South Carolina bank executive Russell Laffitte this week became the third associate of Alex Murdaugh hit with felony charges over his apparent involvement in Murdaugh's years-long string of alleged thefts, money laundering and fraud schemes. Laffitte, former CEO...

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