10th September 2021
Britain’s financial regulators said on Thursday that trade finance firms must do more to identify potentially suspicious activities by undertaking additional risk assessments. During the past 18 months there have been several high-profile failures of commodity and trade finance firms with significant losses, the Bank of England and Financial Conduct… Read More
10th September 2021
A former investment adviser has been sentenced to five years and ten months in prison for money laundering as part of an organised crime group. Richard Faithfull was convicted of laundering £2.5m as part of a trans-national crime group over a period of at least 12 months. He was also disqualified from being a… Read More
8th September 2021
Zachary Horwitz, an actor in low-budget horror and science-fiction movies, has agreed to plead guilty to running a massive Hollywood Ponzi scheme. Horwitz, 34, admitted in court papers that he duped investors into giving him more than $650 million for fictitious movie deals with HBO and Netflix. While Horwitz repaid… Read More
8th September 2021
Police in Hong Kong and mainland China have arrested 22 people in a joint operation against a cross-border syndicate suspected of using 85 local bank accounts to launder HK$740 million (US$95.2 million) in criminal proceeds over the past 17 months. A little over a third of the money was stolen… Read More
8th September 2021
The Pretoria High Court this week issued a provisional restraint order to the tune of R1.4 billion against corruption-accused former senior Eskom official France Hlakudi, businessman Hudson Kgomoeswana as well as former major Eskom contractor Tubular Construction Projects, its CEO, Tony Trindade, and his wife – freezing their assets and… Read More
8th September 2021
One key face could be missing from the first trial beginning this week in the U.S. college admissions scandal that ensnared dozens of wealthy corporate executives and Hollywood actresses – the scheme’s mastermind who helped prosecutors build the case. For months beginning in mid-2018, college admissions consultant William “Rick” Singer… Read More
8th September 2021
A magistrates’ court has found there is sufficient evidence for Yorgen Fenech to be indicted over money laundering and fraud to the detriment of Glimmer Ltd, a company he partly owned. Magistrate Donatella Frendo Dimech decreed there was a ‘case to answer’ on Tuesday morning – a day after… Read More
8th September 2021
Two executives of Massachusetts spinal implant company SpineFrontier Inc were arrested Tuesday on charges of bribing surgeons to use their products by paying them sham consulting fees, federal prosecutors announced. SpineFrontier founder and chief executive officer Kingsley Chin, 57, of Fort Lauderdale, Florida, and chief financial officer Aditya Humad, 36,… Read More
7th September 2021
The pleasures and potential pitfalls of being related to Britain’s prime minister quickly become clear when Maximilian Johnson begins to speak of the predicament he is facing in, of all places, a Mongolian goldmine near the Gobi desert. Boris Johnson’s younger half-brother is battling to save a multimillion-pound investment gone… Read More
7th September 2021
The arrest of the British antiques restorer Neil Perry Smith in July is not the first instance of a restorer becoming embroiled in crime. Smith was extradited to the US and charged on 29 counts for his alleged cleaning and repairing of antiquities for Subhash Kapoor, the dealer accused of… Read More