Reported by: Anna Baydakova Alex Bornyakov, deputy minister of digital transformation of Ukraine, took to Twitter Monday night to officially deny a conspiracy theory around the country’s crypto fundraising effort. “A fundraising crypto foundation @_AidForUkraine used @FTX_Official to convert crypto donations into fiat in March. Ukraine’s gov never invested any funds into FTX. The whole […]
Reported by: KATANGA JOHNSON The Bahamian police said they’re working with the Bahamas Securities Commission to investigate whether there was any criminal misconduct in the collapse of the crypto exchange FTX. “In light of the collapse of FTX globally and the provisional liquidation of FTX Digital Markets Ltd., a team of financial investigators from the […]
Reported by: STEVE MOLLMAN The FTX downfall is not so much a Lehman moment as an Enron one. So says former Treasury Secretary Larry Summers about the once-heralded cryptocurrency exchange that todaydeclared bankruptcy and announced the resignation of founder and CEO Sam Bankman-Fried after a sudden and dramatic collapse this week. “A lot of people have […]
Reported by: MATTHEW KARNITSCHNIG Iran is preparing to hand the Kremlin the blueprints for its most effective weapon against the West: the underground financial network it relies on to evade sanctions. While American sanctions have taken a toll on Iran’s economic output, Tehran’s shadow financial network has ensured the economy continues to fire, if not […]
Reported by: Dave Michaels A top technology executive at the healthcare company Viatris Inc. was charged with sharing illicit stock tips that netted millions of dollars for a friend who traded on them, according to the Justice Department. Ramkumar Rayapureddy, the global chief information officer at Viatris, shared undisclosed information about a regulatory drug approval, his employer’s financial […]
Reported by: Lydia Beyoud, Yueqi Yang, and Olga Kharif US regulators are investigating whether beleaguered crypto-exchange FTX.com mishandled customer funds, and they’re looking into the firm’s relationships with other parts of Sam Bankman-Fried’s crypto empire. The inquiries by the Securities and Exchange Commission and the Commodity Futures Trading Commission relate to the liquidity crisis that […]
Reported by: Donal Griffin, Amelia Pollard and Nishant Kumar Over almost three decades in the City of London, the aggressive trading strategies of Glen Point Capital co-founder Neil Phillips made him few friends even as they burnished his reputation as a hard-charging trader. Those sharp elbows have now drawn the attention of the US Department […]
Reported by: Sam Jones in Berlin and Max Seddon in Riga German police have raided offices of the Swiss bank UBS in connection with a money laundering investigation into Uzbek-born Russian billionaire Alisher Usmanov. UBS branches in Frankfurt and Munich were searched on Tuesday morning, state prosecutors confirmed to the Financial Times. “The subject of […]
Reported by: Department of Justice, U.S. Attorney’s Office, Southern District of New York In November 2021, Law Enforcement Seized Over 50,676 Bitcoin Hidden in Devices in Defendant JAMES ZHONG’s Home; ZHONG Has Now Pled Guilty to Unlawfully Obtaining that Bitcoin From the Silk Road Dark Web in 2012. Law enforcement seized approximately 50,676.17851897 Bitcoin, then […]
Reported by: Joe Wallace Sanctions on Russia will redraw global oil flows over the next three months. Confusion over how the measures will work is making it hard for the energy industry to prepare. Ukraine’s allies are gearing up to hit Russian oil with the toughest restrictions to date starting in early December, an attempt […]
Financial Crime News Briefs 