Unlike the Marquis, France’s Biggest Ponzi Schemer Avoids Prison
Gérard Lhéritier, the French businessman convicted of running what prosecutors called the largest Ponzi scheme ever uncovered in France, has avoided prison after negotiating a last-minute plea bargain citing age and health.
Leaked Messages Show Bolsonaro Family Ties to Banco Master Scandal
Brazilian lawmaker and presidential candidate Flavio Bolsonaro negotiated $24 million in financing from jailed banker Daniel Vorcaro to bankroll a biographical film about his father, former President Jair Bolsonaro.
Fugitive Jho Low Is Seeking a Trump Pardon for 1MDB Charges
Jho Low, the fugitive Malaysian financier accused of masterminding the multibillion-dollar 1MDB fraud, has submitted a request for a presidential pardon to U.S. President Donald Trump.
Moldovan Oligarch Heads to Prison for Role in ‘Theft of the Century’
A Moldovan court on Wednesday sentenced oligarch and former political leader Vladimir Plahotniuc to 19 years in prison for his role in a massive bank fraud scheme that siphoned funds from three lenders in 2014.
Wife of Spanish PM to Stand Trial for Alleged Corruption, Embezzlement
Spanish Prime Minister Pedro Sánchez is facing renewed political pressure after a judge ordered his wife, Begoña Gómez, to stand trial, deepening a corruption controversy that already involves several of his relatives and close associates.
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.
Ex-Malaysian PM Razak Ordered to Pay $1.3 Billion to 1MDB Unit
A Malaysian court on Tuesday ordered jailed former Prime Minister Najib Razak to pay $1.3 billion to SRC International, a former unit of scandal-linked state fund 1MDB, after finding him liable for losses incurred by the company.
Hungary Continues to Fall Short on Investigating Fraud, EU Data Shows
Hungary has recovered and returned less than a fifth of EU funds flagged for potential fraud over the past decade, according to data from the bloc’s anti-fraud watchdog reported by the Financial Times.
A $260mn Argentine Soccer Scandal Is Now Linked to Miami Shell Firms
Florida shell companies and virtual office addresses are at the center of an expanding international investigation into at least $260 million in funds tied to Argentina’s top soccer authority.
Italy Seizes Tuscany Properties Tied to Alleged Swindle of Ursula Andress
Italian authorities have seized assets worth about €20 million in Tuscany that investigators say were purchased with money embezzled from actor Ursula Andress.