Secret Audio Recording Catches Launderers Discussing How to Hide PDVSA Loot
Secret audio recorded in Madrid in 2017 captures “shadow bankers” laying out a plan to launder millions of dollars tied to corruption at Venezuela’s state oil company, including a proposed bond swap designed to evade anti-money laundering controls
Japan’s ‘Dementia Money’ Becomes Increasing Target of Elder Fraud
Japan’s rapidly aging population is creating a sprawling new target for financial abuse, with older people experiencing cognitive decline controlling assets worth almost half the country’s GDP.
Emails Show Dirty-Money Probe of Epstein, Contradicting Testimony of Ex-Trump Official
Federal prosecutors examined Jeffrey Epstein for money laundering and operating an unlicensed money-transmitting business in 2007, according to emails from the deceased sex trafficker’s personal Yahoo account obtained by Bloomberg.
HSBC Sets Aside $1.1 Billion for Madoff Litigation
HSBC Holdings Plc will take a $1.1 billion provision in its third-quarter results to cover potential liabilities tied to investor lawsuits linked to Bernard Madoff’s Ponzi scheme, Bloomberg reported.
U.S. Charges 777 Partners Co-Founder Over Alleged $500-Million Fraud
Federal prosecutors on Thursday unsealed an indictment charging Josh Wander, co-founder of collapsed investment firm 777 Partners, with wire fraud, securities fraud and conspiracy, alleging he fabricated financial records and misled lenders and investors in a scheme worth up to $500 million. The 17-page filing in Manhattan federal court says Wander used bogus documents and […]
EU Lawmakers Move to Scale Back ESG Directives
European Union lawmakers voted Monday to dramatically scale back two flagship sustainability rules, narrowing their scope to the bloc’s largest companies after months of pushback from industry, Bloomberg reported.
FSB Warns Market Rally Raises Specter of Sudden Crash
The world’s top financial watchdog warned that a sharp run-up in global asset prices has left markets vulnerable to the potential for a crash given current economic and geopolitical uncertainties.
Congress Expected to Subpoena Banks Linked to Epstein
Jeffrey Epstein remained embedded in Wall Street’s elite financial networks in the years before his 2019 death, maintaining accounts at more than 20 banks and executing large transactions with prominent investment firms, according to new reporting by The Wall Street Journal.
Chinese Crypto-Launderer Pleads Guilty in London Court
A woman accused of running a multibillion-pound investment fraud in China has pleaded guilty in London to laundering bitcoin linked to the scheme.
HK Regulator Bans Ex-Citi Asia Equities Head for Poor Compliance
Hong Kong has banned Richard Charles Heyes, Citigroup’s former head of pan-Asia equities, from re-entering the financial industry for five years after finding him liable for regulatory breaches.