Category: Financial Crime

WASHINGTON, Sept 28 (Reuters) – Republicans leading an impeachment inquiry of President Joe Biden detailed foreign payments to members of his family in their first hearing on Thursday, but did not provide evidence that the Democratic president had personally benefited. The initial impeachment hearing by the U.S. House of Representatives Oversight Committee served as a review of evidence that Republicans have…

The US Department of Justice has stepped up its probe into Credit Suisse Group and UBS Group over suspected compliance failures that allowed Russian clients to evade sanctions, according to people familiar with the situation. What began as a series of subpoenas sent to a range of banks early this year has developed into a full-scale investigation focusing on Credit…

The US could be heading for economic turmoil again 15 years after the 2008 financial crisis rocked the country, three experts have said. Global finance giant Lehman Brothers filed for bankruptcy on September 15, 2008, more than 150 years after its founding. It was the first major US victim of the sub-prime mortgage collapse. The first warning of the Credit…

The trend of banks increasing their net interest margins and channeling their efforts into loan refinancing has raised concerns that it will reduce competition in the lending market. This shift could have significant implications for borrowers and the broader economy, according to Peter James (pictured above), director of non-bank lender Mortgage Ezy. “Banks are notorious for fattening their net interest…

  JPMorgan Chase is in a protracted legal battle in a federal district court in Manhattan over highly credible allegations that it “actively participated” in Jeffrey Epstein’s sex-trafficking of minors. The lawsuit has been brought against JPMorgan Chase by the Attorney General of the U.S. Virgin Islands where Epstein owned a private island compound that was a frequent venue of…

PARIS – French prosecutors announced on Friday that they had opened an investigation into Binance, adding to the legal woes of the world’s largest cryptocurrency exchange. The probe, led by the Paris prosecutor’s office, will look into allegations that the French arm of Binance traded illegally in digital assets as well as a separate charge of “aggravated money laundering”, a…

The two founders behind Tornado Cash, a Russian cryptocurrency mixing service, have been charged by the U.S. Attorney’s Office for the Southern District of New York, according to a statement on Wednesday. Roman Storm and Roman Semenov were officially charged with conspiracy to commit money laundering, conspiracy to commit sanctions violations and conspiracy to operate an unlicensed money transmitting business,…

Former New York City mayor Rudy Giuliani found himself a local lawyer in time to turn himself in to Georgia authorities on Wednesday, two days before the deadline imposed by Fulton County District Attorney Fani Willis. The once-respected federal prosecutor-turned-Trump lackey arrived at the Fulton County Jail to be photographed, fingerprinted, and booked on a raft of felony charges over…

WASHINGTON (AP) — The generic drug maker Teva Pharmaceuticals agreed Monday to pay $225 million to settle price-fixing charges related to sales of a major cholesterol-lowering drug. The U.S. Department of Justice said the agreement also requires Teva to divest its business making and selling the drug, pravastatin, a generic version of the brand-name medicine Pravachol. Another generic drug maker,…

This follows our announcement of a data exercise to investigate account closures.  Firms have until 25 August 2023 to provide information on: the number of customers that have been terminated the number of customers suspended the number of customers denied services the reasons for all of the above  the number of complaints banks have received on this issue This will…

SEC Charges Recidivist and Others in Offering Fraud Scheme Lit. Release No. 25804 / August 7, 2023 Securities and Exchange Commission v. Christopher A. Slaga a/k/a Keith Renko, Q4 Capital, LLC, J4 Capital Advisors LLC, and Hayden F. Greene, No. 8:23-cv-01425 (C.D. Cal. filed August 7, 2023) The Securities and Exchange Commission filed today a complaint in U.S. District Court…

The judge in the Hunter Biden case said Wednesday she is not ready to accept the plea deal struck between the president’s son and the Justice Department, and asked both parties to submit additional briefs and return to the court on a future date. Judge Maryellen Noreika demanded that the lawyers from both sides make clear that the deal does…

U.S. prosecutors have accused FTX founder Sam Bankman-Fried of witness tampering and asked a federal judge to issue an order that would bar the former billionaire and other parties from making public statements likely to interfere with a fair trial. The prosecutors wrote to U.S. District Judge Lewis Kaplan on Thursday referencing a New York Times article titled “Inside the…

James S. Crown On Sunday, James S. Crown died in an unusual single-car accident, reportedly on a motorsport racetrack at a “member-owned country club” in Aspen, Colorado. The Pitkin County Coroner’s Office said in a statement that “The official cause of death is pending autopsy, although multiple blunt force trauma is evident.” The Sheriff’s Office indicated that the earliest new…

WASHINGTON (Reuters) -U.S. President Joe Biden’s son Hunter Biden has agreed to plead guilty to two charges of willfully failing to pay income taxes. He will enter into an agreement that could enable him to avoid a conviction on a gun-related charge, according to a court filing on Tuesday. The federal charges against Hunter Biden resulted from an investigation by…