News Filter
20th October 2016
A court in the United States ruled on Monday to disqualify lawyers representing a firm connected to the Magnitsky fraud case, after they had switched sides to defend a company accused of money laundering. The ruling by the US Court of Appeals for the Second Circuit instructed a court in… Read More
19th October 2016
The great expectations of bringing back wealthy Indonesians’ funds from overseas under the tax amnesty have hit a snag, with many declaring their assets in the program, but with little repatriation. As of Tuesday evening, Rp 143 trillion (US$11.01 billion) have been repatriated under the amnesty, a fraction of the… Read More
19th October 2016
Paul Tate, the former payments director at pre-Amaya PokerStars, pleaded guilty in the Southern District Court of New York on Thursday to one charge of operating an illegal gambling business. Tate was one of 11 people indicted in April 2011 on charges of violating the Unlawful Gambling Enforcement… Read More
19th October 2016
The Commission has today issued an FAQ for legal professionals as a result of the recent changes to the Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) Law, 1999. The FAQ has been created to assist legal professionals in determining whether or not a particular service they offer is within… Read More
19th October 2016
Christopher Paul Byrne, the founder and managing director of Lumiere Wealth Ltd, a Jersey advisory firm, has been arrested “in connection with” ongoing investigations into the firm and its ties to Guernsey-registered Providence funds. In a statement on its website, the Jersey Financial Services Commission said it was “aware of the… Read More
19th October 2016
Leonardo DiCaprio is aiding the investigation into a Malaysian embezzlement scam linked to his hit film The Wolf of Wall Street, according to his spokesperson on Tuesday. The Hollywood star contacted the US justice department in July just after it filed a lawsuit to seize more than US$1bn in allegedly… Read More
19th October 2016
The UK Gambling Commission (UKGC) will this month make a number of amendments to its licence conditions and codes of practice (LCCP) in a move to help prevent gambling-related crime. Due to come into effect from October 31, changes include the requirement for all licensees to report criminal investigations they… Read More
19th October 2016
The absence of Justice Sule Hassan of a Federal High Court in Lagos, on Wednesday stalled the trial of a former Minister of Aviation, Femi Fani-Kayode, over money laundering. Fani-Kayode, who was also former Director of Media and Publicity, campaign committee of ex- President Goodluck Jonathan, is charged alongside a… Read More
19th October 2016
In a move that signals a wider crackdown on bond sales by Chinese property companies, Shanghai Stock Exchange has suspended bond raising applications from developers that would be disqualified from issuing corporate debt under new guidelines expected to be issued by the securities regulator, industry sources said. Some… Read More
19th October 2016
Ukraine has imposed sanctions against a number of Russian and Crimean companies involved in coal transportation, handling and sales. The corresponding decision is stipulated in the resolution of National Security and Defense Council dated September 16, 2016 and presidential decree No. 467/2016. “The basis for applying sanctions is the actions… Read More