Morgan Stanley, European Banks Drawn Into Probe of Alleged Bolloré Bribery
Morgan Stanley and several European banks risk being drawn into a French criminal investigation over the 2022 sale of Vincent Bolloré’s African transport and logistics business, as an anti-corruption association seeks to compel them to hand over internal documents related to the €5.7-billion transaction.
OFAC Blacklists Iran’s Largest Crypto Exchange, DRC Rebel Commanders
The U.S. Treasury Department on Tuesday sanctioned Nobitex, Iran’s largest digital asset exchange, accusing the platform of helping Tehran evade sanctions and facilitate terrorist financing and ransomware attacks.
Santander Banker Arrested in Takedown of $85mn Money-Laundering Ring
An employee of Banco Santander’s Chile unit was among 18 suspects detained Tuesday as Chilean authorities moved against an alleged $85-million money-laundering network tied to the Venezuelan criminal organization Tren de Aragua.
Swiss Prosecutors Raid Gunvor’s Geneva Offices in Bribery Probe
Swiss prosecutors raided the Geneva offices of commodity trader Gunvor as part of a criminal investigation into suspected bribery of foreign public officials, dealing a fresh blow to the company’s efforts to rehabilitate its reputation following a series of prior corruption convictions.
Hungary Seizes $300mn in Money-Laundering Probe of Central Bank Foundations
Hungarian prosecutors and police have seized around 92 billion forints ($300 million) in funds and securities in a money laundering probe of foundations set up by the National Bank of Hungary.
China Launches Biggest Crackdown on Capital Flight in Decades
China has launched the biggest overhaul of its cross-border tax and capital-controls regime in decades, threatening three popular offshore brokers with at least $330 million in penalties, vowing stricter bank oversight, and ramping up private pressure on the country’s wealthiest citizens.
U.S. Extends ‘Foreign Terrorist Organization’ Sanctions to Brazil’s Gangs
The Trump administration will designate Brazil’s two largest criminal gangs as Foreign Terrorist Organizations effective this June, U.S. Secretary of State Marco Rubio said in a statement Thursday.
Italy Seizes over €200 Million in Assets from Deceased Costra Nostra Boss
Italian authorities are seizing more than €200 million ($232 million) in assets tied to late Mafia boss Matteo Messina Denaro, including funds derived from drug trafficking and laundered across Europe and beyond.
Is the Trump Administration Unraveling DOJ’s Landmark FIFA Bribery Case?
A federal court in Brooklyn vacated corruption charges Wednesday against two defendants convicted in the U.S. crackdown on FIFA bribery, after the Trump administration said the cases no longer fit its prosecutorial priorities.
Russian Airlines Rely on a Shadow Supply Chain for Boeing and Airbus Parts
Russian airlines have largely defied Western sanctions aimed at grounding their fleets by building a shadow supply chain for Boeing and Airbus spare parts routed through India, Turkey, the United Arab Emirates, and Kazakhstan.