UBS Moved Millions for Ghislaine Maxwell After 2019 Subpoena
UBS AG processed an $8-million transfer for Ghislaine Maxwell in late 2019 that ultimately helped fund the cash purchase of the New Hampshire estate where she later went into hiding before her 2020 arrest.
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.
An Opaque of Web of Loans Raises Due-Diligence Questions in MFS Collapse
The collapse of British property lender Market Financial Solutions (MFS) is exposing what Bloomberg described as an alleged collateral fraud that may leave lenders facing as much as £1.3 billion in losses and is raising new concerns about due diligence in private credit.
UK Levies Sanctions on Cambodian Scam Center and Crypto Marketplace
Britain has expanded its crackdown on Southeast Asia’s scam economy by sanctioning Xinbi, a Chinese-language crypto marketplace that officials say helped service scam centers, along with Legend Innovation Co., the operator of Cambodia’s “#8 Park” compound, and six individuals allegedly tied to the network.
He Raised Money for Tech Breakthroughs. Some Say He Pocketed It Instead.
An entrepreneur who used ties to prominent academics to raise nearly $27 million for a cluster of startups ran what U.S. regulators described as an “IP-rich” and “Ponzi-like” scheme that recycled new investor money to repay earlier backers while funding a lavish personal lifestyle.
How a Binance Vendor Opened a Backdoor for Iran’s Sanctions Evasion
Binance failed for months to cut ties with a payment-processing vendor despite a series of red flags that pointed to possible sanctions evasion and money laundering involving transfers later linked to Iran.
Ukraine Bankers Say They Were Beaten, Injected via IV While Detained in Hungary
New details have emerged about the seizure of two armored bank vehicles by Hungarian officials earlier this month, including allegations that the then-detained Ukrainian bank workers were beaten and injected with an unknown substance.
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.
South Africa’s Top Cop Arrested for Alleged Role in Health-Services Fraud
South Africa’s national police commissioner, Fannie Masemola, has been charged in a widening corruption investigation linked to the award of a 360 million rand ($21 million) police health-services contract to a businessman already under scrutiny for tender fraud.
How a Tiny Zurich Bank Became a Nexus for Risky Transactions
It was a tiny Swiss bank, headquartered in an open-plan office close to Lake Zurich and little known abroad. But MBaer Merchant Bank AG would sometimes charge clients 10 times the normal rate to process payments.