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 […]
Reported by: Rupert Neate Wealth correspondent More than 138,000 residential and commercial properties in England and Wales are owned by offshore companies, with holdings in London worth a combined £55bn, according to research shared with the Guardian. The findings come as the government begins a crackdown to dismantle the secrecy that surrounds offshore property ownership, […]
Reported by: DAVID JOLLY The IRS’s Criminal Investigation division is building “hundreds” of crypto cases, and many of them will soon be public, division chief Jim Lee said Thursday. The cases involve areas like “off-ramping” transactions, in which digital assets are exchanged for fiat currency, as well as people being paid in crypto and not […]
Reported by: Olaf Storbeck Germany’s financial watchdog BaFin has threatened to fine Deutsche Bank if it misses crucial deadlines for fixing its money-laundering controls — the latest escalation of a four-year tussle between lender and regulator. Bonn-based BaFin on Friday again publicly rebuked the country’s largest bank, highlighting that attempts over a number of years to improve […]
Reported by: Hugh Son Goldman Sachs is making a bid to standardize the way the financial industry talks about, tracks and invests in the burgeoning universe of digital assets, CNBC is first to report. The investment bank is set to unveil a data service created with global index provider MSCI and crypto data firm Coin Metrics that […]
Reported by: AYANA ARCHIE The Justice Department has arrested 21 people suspected of belonging to a theft ring that made millions of dollars from stolen catalytic converters, the car parts that have increasingly become targets across the country. A team of law enforcement agencies at the local, state and federal levels seized hundreds of millions […]
Financial Crime News Briefs 