Day: August 22, 2023

Written by FinCrime

State Street Accused Of Aiding Alleged Ponzi Schemers

Reported by Julie Manganis State Street Bank and Trust Co. willfully ignored red flags and violated anti-money laundering requirements to allow the transfer of $8.3 million worth of securities into an account controlled by a man later charged in an alleged $155 million Ponzi scheme, a lawsuit filed in Massachusetts state court alleges. The complaint, […]

Written by FinCrime

Sanctions are failing to turn Putin’s oligarchs against him

Reported by Mark Galeotti When personal sanctions on Russian oligarchs and officials were imposed by the UK, US and EU after Putin’s invasion, the rationale was that this would undermine the Kremlin. In the main, this has failed – and there is still no coherent strategy to encourage those Russians willing to turn against the regime. Wider economic sanctions are slowly […]