Founder of China’s Evergrande Pleads Guilty to Fraud and Embezzlement
Hui Ka Yan, the founder of embattled Chinese property developer Evergrande, pleaded guilty this week to multiple charges including embezzlement of assets and corporate bribery, in a major milestone in the unraveling of one of China’s biggest corporate collapses.
Grassley Questions Candor of UBS on Nazi-Linked Accounts
UBS AG is facing renewed pressure from the U.S. Senate Judiciary Committee over its handling of an investigation into possible Nazi-linked accounts at Credit Suisse, after the panel’s chairman accused the Swiss bank of withholding documents and obstructing a full review.
Fake Apple App Scams Nearly $10mn from Crypto Users in a Matter of Days
A fake version of Ledger Live distributed through Apple’s App Store drained at least $9.5 million in cryptocurrency from more than 50 victims across multiple blockchains in a phishing campaign that ran from April 7 to April 13.
Orban’s Exit Comes with Shredded Documents and Sanctions Questions
Hungary’s incoming prime minister, Péter Magyar, accused outgoing Foreign Minister Péter Szijjártó on Monday of shredding documents related to European Union sanctions.
Trump Administration Allows Russia Sanctions Waiver to Expire
The Trump administration has allowed a temporary sanctions waiver on Russian oil to expire, ending a short-lived reprieve that had permitted the sale of some blacklisted Russian crude and pulling back from a policy that was intended to help contain surging global oil prices.
Britain’s Financial Regulators Are Scrambling to Assess Mythos Risks
UK financial regulators are urgently assessing the risks posed by Anthropic’s latest AI model after concerns that its ability to uncover software vulnerabilities could expose major financial institutions to new cybersecurity threats.
Trump’s IRS Cuts Raise Fears, and Hopes, of Weaker Enforcement
The Internal Revenue Service has lost thousands of enforcement staffers since President Donald Trump returned to office. The cuts are fueling fears, and in some cases, hopes, that the agency’s capacity to enforce U.S. tax laws is diminished.
Lafarge Fined over €5.7mn, CEO Jailed for 6 Years for Paying Terror Groups
A French court on Monday sentenced former Lafarge chief executive Bruno Lafont to six years in prison for paying armed jihadist groups to keep the company’s Syrian cement plant operating in 2013 and 2014, in a ruling that Le Monde described as a landmark corporate terrorism-financing case.
How Iran Transformed Its Economy with Barter Deals and China’s Help
Iran has built a more complex trade system under years of Western sanctions, relying increasingly on China, barter arrangements, and covert financing channels that help it keep goods moving even as formal restrictions target its oil exports, banking access, and foreign trade.
Bessent and Powell Warn Banks on New AI Tool’s ‘Zero-Day’ Risks
U.S. Treasury Secretary Scott Bessent and Federal Reserve Chair Jerome Powell summoned Wall Street executives this week to warn that a new artificial intelligence model from Anthropic could mark the start of a more dangerous phase in cybersecurity.