April 20, 2020
A British court awarded $11 million in damages and expenses on Friday [April 17] to a former partner at global accounting firm Ernst & Young who exposed money laundering at a major gold refinery in the United Arab Emirates. Amjad …
April 14, 2020
Australia’s Westpac Banking Corp said it expects a A$900 million ($578 million) fine over accusations it enabled millions of illegal payments including between known child sex offenders, the first time it has put a price on the scandal. The country’s …
March 20, 2020
Sweden’s financial watchdog hit lender Swedbank with a record fine of 4 billion crowns ($386 million) on Thursday for serious deficiencies in its anti-money-laundering work and said the bank had withheld information from authorities. Sweden’s oldest retail bank saw its …
February 24, 2020
The ousted chief executive of Danske Bank A/S, Thomas Borgen, has been personally targeted in an investor lawsuit arguing he withheld information about potential money laundering that subsequently destroyed the lender’s market value. Deminor, a Brussels-based law firm, said on …
February 21, 2020
A mortgage company staffer who created hundreds of fraudulent wire transfers to steal roughly $2 million from the firm has been sentenced to nearly four years in federal prison. Dilcia Mercedes of Camden, N.J., will also have to serve three …
December 27, 2019
A group of international investors who manage trillions of dollars in assets has filed what it says is the first in a series of lawsuits against Danske Bank in connection with the money laundering scandal engulfing Denmark’s largest lender. The …
November 25, 2019
Australian Home Affairs Minister Peter Dutton said Westpac Banking Corp. must pay the price for giving “a free pass to pedophiles” as the corporate watchdog began investigating the lender over millions of breaches of money laundering laws. Dutton is the …
November 22, 2019
Westpac Banking Corp.’s board stood behind its management team on Friday, offering embattled chief executive Brian Hartzer some respite from mounting criticism over allegations of a breach of money-laundering laws, including failing to detect payments linked to child abuse. Chairman …
October 28, 2019
A Philadelphia businessman who amplified the size of his legal benefits firm to gain more than $30 million in loans has been sentenced to 17 1/2 years in prison. Gary Alan Frank was sentenced in Philadelphia where the judge described …
October 21, 2019
A Philadelphia bookkeeper who embezzled nearly $1.6 million from his New Jersey employer over a 10-year period has been sentenced to more than eight years in federal prison. Peter Goodchild must also pay restitution under the sentence imposed Thursday. Prosecutors …