Trust & Corp Svcs
15th March 2021
A Swiss prosecutor is probing whether the late Saudi king broke any laws when he transferred $100 million to a fund controlled by fellow royal Juan Carlos I of Spain in 2008. Last month, a hearing was held behind closed doors in Geneva to discuss a legal opinion that prosecutor… Read More
8th March 2021
By Will Fitzgibbon, ICIJ, 5 March 2021 ICIJ — A third person has pleaded guilty to financial crimes as part of a probe sparked by the Panama Papers investigation, newly released court documents show. The unexpected guilty plea by Joachim Alexander von der Goltz was… Read More
5th March 2021
By Will Fitzgibbon, ICIJ, 4 March 2021 ICIJ — A court in the Channel Islands has fined a team of accountants and economists who for years ignored “obvious” risks of possible corruption and embezzlement when providing services to an investment management company working with the government… Read More
4th March 2021
Cyprus plans to launch a register in coming months identifying the owners of thousands of companies on the island, lifting a veil of secrecy on opaque and complex corporate structures that campaigners say can help criminals seeking to hide their loot. Details of thousands of companies domiciled on the island,… Read More
4th March 2021
Malaysian police said on Wednesday it was investigating the husband of the country’s former central bank head for allegedly receiving funds linked to 1MDB, a state fund at the centre of a massive corruption scandal. Malaysian and U.S authorities have said around $4.5 billion was stolen from 1Malaysia Development Berhad… Read More
2nd March 2021
By Michael Hudson and Ben Hallman, ICIJ, 1 March 2021 ICIJ — To keep from falling further behind in the battle against criminal money and terrorism financing, the United States must remake the federal agency at the center of the fight, according to a new report… Read More
26th February 2021
Luxembourg has dismissed accusations of rampant tax avoidance and insisted that the country respects “all the applicable European and international rules and standards in terms of tax transparency , the fight against tax abuses and the fight against money laundering and the financing of terrorism”. The duchy is reeling from relevations made public in an exercise dubbed as Openlux, a collaboration… Read More
26th February 2021
By Will Fitzgibbon, ICIJ, 25 February 2021 ICIJ — A powerful international organization whose members represent the world’s largest economies has issued a strong warning about the “threats and risks” posed by lawyers, accountants and other facilitators who help their clients commit and conceal financial crimes. Read More
25th February 2021
Billions of people around the world are being trapped in poverty by systemic tax abuses, corruption and money laundering, according to a UN commission report calling for a global crackdown. The UN panel on financial integrity for sustainable development urged governments to overhaul tax rules and the banking system… Read More
24th February 2021
One of the most influential figures in Latvian politics has been sentenced to five years in prison for corruption. Aivars Lembergs, the mayor of the city of Ventspils since 1988, was convicted by a court in Riga on Monday of bribery and money laundering. The wealthy businessman was immediately arrested… Read More