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.
U.S. Judge Strikes Down FinCEN Rule on Cash Real-Estate Purchases
A U.S. judge has struck down a Treasury Department rule that required disclosure of the beneficial owners of companies making all-cash real estate purchases, dealing a setback to a Biden-era effort to curb money laundering through the property market.
UK’s Top-Paid Oil Exec Faces Global Asset Freeze Over Siphoned Iran Funds
North Sea oil executive Francesco Mazzagatti could soon be the subject of a worldwide asset freeze stemming from a London lawsuit alleging he siphoned funds from former business partners tied to an Iranian petrochemicals business.
JPMorgan Hit With Class-Action Suit Over Alleged Crypto-Ponzi Scheme
Three class-action lawsuits have been filed in the wake of federal charges against Christopher Delgado, the founder and former chief executive of Goliath Ventures, including one case accusing JPMorgan Chase of helping enable an alleged $328-million crypto- Ponzi scheme.
Bank of America Aims to Settle Lawsuit Brought by Epstein Victims
Bank of America has agreed in principle to settle a proposed class action lawsuit brought by Jeffrey Epstein’s victims ,who accused the lender of aiding the late financier’s sex-trafficking operation.
Leon Black to Be Deposed in Case Alleging BofA Ignored Epstein Red Flags
Leon Black, the billionaire financier and former chief executive of Apollo Global Management, has been ordered to sit for a deposition in a lawsuit accusing Bank of America of facilitating and profiting from Jeffrey Epstein’s sex-trafficking operation.
Ex-RBS Manager Pleads Guilty to Extorting Bribes from Business Clients
A former Royal Bank of Scotland manager has admitted taking more than £600,000 in bribes in exchange for favorable treatment of business customers trapped inside the bank’s discredited Global Restructuring Group (GRG).
Halkbank Granted 90-Day Stay in U.S. Criminal Case Amid DPA Talks
A federal judge in Manhattan on Wednesday granted a 90-day pause in the criminal case against Turkey’s state-run Halkbank, a first step toward a possible dismissal of charges that the bank helped launder billions of dollars in Iranian oil and gas proceeds.
DOJ and Halkbank to Settle Sanctions-Evasion Case with DPA
The U.S. Justice Department is poised to resolve its long-running criminal case against Turkey’s state-owned Halkbank through a deferred prosecution agreement (DPA).
Court Dismisses Lawsuit to Hold Binance, Zhao Liable for Terror Attacks
A U.S. federal judge has dismissed a civil lawsuit that sought to hold Binance and its founder, Changpeng Zhao, liable for transactions allegedly linked to terrorist groups behind 64 attacks worldwide.