Trust & Corp Svcs
12th October 2016
Whilst a major exhibition by the Italian Renaissance painter Caravaggio prepares to launch at the National Gallery in London, the Wildenstein money-laundering trial involving a key painting by Caravaggio continues in Paris. The Painting which is now in storage in Switzerland complicates issues around the estate of Daniel Wildenstein, Guy Wildenstein’s father. Read More
11th September 2016
SINGAPORE — The State Court has sentenced a married couple to prison in a $3.6 million international money laundering case linked to Chinese telecom giant ZTE and the former prime minister of Papua New Guinea. Singaporean national Lim Ai Wah was given a five-year prison sentence Thursday,… Read More
11th September 2016
The Hong Kong Monetary Authority has warned banks that applying disproportionately stringent due diligence on customer accounts risks excluding legitimate businesses from basic financial services. The city’s de facto central bank urged lenders to adopt an approach that differentiates the risk of individual customers through factors such as country, business… Read More
7th September 2016
A San Diego lawyer has been sentenced to five years in prison after pleading guilty last year to using lawyer trust accounts to hide the source of $12 million later sent to international destinations. Lawyer Richard Medina Jr., 40, was sentenced on Tuesday, report the San Diego Union-Tribune and… Read More
1st September 2016
A Treasury Department unit is proposing to close a regulatory gap by extending anti-money laundering (AML) requirements to more than 600 lenders lacking a federal regulator. The Financial Crimes Enforcement Network (FinCEN) proposal would remove an AML program exemption for those lenders, which include private banks, nonfederally insured… Read More
18th April 2016
An international fraud investigation raises vexing questions. Read More