Law & Accountancy

Featured Law & Accountancy

Unmasked: Commonwealth’s top lawyer guilty of £600,000 fraud

A high-flying lawyer swindled the Commonwealth and a top international legal firm out of more than £600,000 in a series of frauds. Joshua Brien, 48, established himself during 12 years at the Commonwealth Secretariat as an expert on the laws of the sea, offering advice around the… Read More

EY under scrutiny after second-largest bankruptcy in Swiss history

EY auditors failed to raise the alarm over multimillion-dollar jewellery purchases and approved huge payments to opaque offshore companies in the years before one of Switzerland’s biggest ever corporate collapses. Zeromax, a conglomerate based in the Swiss canton of Zug, had a business empire in Uzbekistan with interests ranging from… Read More

French firm Lafarge awaits ruling on Syria ‘crimes against humanity’

France’s highest court will on Tuesday rule on whether cement giant Lafarge should remain charged with complicity in crimes against humanity over alleged payments made to Islamist militants in Syria at the height of the country’s civil war. The French company is suspected of paying nearly 13 million euros ($15.3… Read More
2nd September 2021
The U.K.’s accounting watchdog filed a disciplinary complaint against KPMG LLP, a former partner and current and former employees of the accounting firm over their role in past audits of two U.K. companies. KPMG and the individuals cited provided “false and misleading information” and documents to the Financial Reporting Council… Read More
31st August 2021
Victims of Bernard Madoff will get another chance at recovering $343 million from Citigroup Inc. after a federal appeals court overturned a ruling dismissing a claim against the bank. The U.S. Court of Appeals in New York on Monday reinstated a suit against Citi by Irving Picard, the trustee… Read More
26th August 2021
Danske Bank A/S and former top executives on Wednesday defeated an appeal in New York by shareholders claiming they were defrauded because the Danish bank allowed widespread money laundering at its former Estonian branch. The lawsuit began after Danske said in September 2018 that an internal probe had uncovered about… Read More
26th August 2021
Retired Olympic speed skating champion Apolo Ohno and companies in Cyprus, Hong Kong, Malta, and Singapore are being sued in California for an alleged $50 million crypto fraud. Apolo Anton Ohno is an American retired short track speed skating competitor and an eight-time medallist in the Winter Olympics. Ohno… Read More
25th August 2021
Amid the Biden administration’s crackdown on corruption worldwide, the Treasury sanctioned a money laundering network operating in the tri-border area of Argentina, Brazil and Paraguay. The federal department sanctioned Kassem Mohamad Hijazi and two of his partners, Khalil Ahmad Hijazi and Liz Paola Doldan Gonzalez, along with five of their… Read More
24th August 2021
A Swiss appeals court has rejected a banker’s bid to lift his three-year regulatory ban from working in the industry over failures to properly fight money-laundering linked to scandal-hit Malaysian sovereign wealth fund 1MDB. In a ruling released on Monday, the Federal Administrative Court turned down the appeal by the… Read More
23rd August 2021
Dubai has formed a specialist court that will focus on fighting money laundering and other financial crimes, as the emirate seeks to strengthen the integrity of its financial system and support nationwide efforts to clamp down on money laundering. The new entity will be set up within the Court of… Read More
20th August 2021
China’s top legislative body postponed a vote on a proposal to impose an anti-sanctions law on Hong Kong, delaying a move that could put global firms in the cross-hairs of a conflict between the world’s two largest economies. The National People’s Congress Standing Committee ended a closed-door session… Read More
19th August 2021
The Government says it is pressing ahead with plans to set up a new beefed-up white-collar crime agency and it intends to publish proposed new laws to establish the body in coming weeks. The Corporate Enforcement Authority (CEA) will be established as a standalone entity to replace the Office… Read More
18th August 2021
A federal appeals panel on Tuesday questioned a prosecutor’s bid to reinstate a former Alstom SA executive’s conviction on foreign bribery charges. Lawrence Hoskins, a UK citizen who had worked for Alstom in Asia, was convicted in 2019 on foreign bribery and money laundering charges for his role in a… Read More