News

Hedge fund managers charged with more crimes – Galleon Group founder Raj Rajaratnam and his alleged partner in crime, ex-New Castle Partners executive Danielle Chiesi, were slapped with additional criminal charges Tuesday (Feb 9), as prosecutors upped their estimate of insider trading profits in the case from $20 million to $49 million. The new charges […]

Australian Banker jailed over $1m fraud – A bank employee with a “commitment to dishonesty”, who ripped his employers off by more than $1 million, will spend the next two and half years behind bars. This morning Jason Paul Gabriel, 40, pleaded guilty in the Brisbane District Court to one charge of stealing as a […]

The Bribery Bill – On 19 November 2009 the Bribery Bill was introduced into Parliament, receiving its first reading in the House of Lords. The Bill, which seeks to modernise and consolidate the law on bribery and corruption in the UK, completed its journey through the House of Lords on 8 February 2010. The House […]

The FSA has cancelled a London-based IFA’s permissions after he failed to notify the regulator of a change of address and therefore was not conducting his business in compliance with proper standards. The FSA sent a final notice to Omodeleola Kehinde Okenla, trading as M & D Property Services, claiming he was not “a fit […]

Shares of Infinex Ventures Inc., a U.S.-based mining company, were manipulated by Italians working for an organized-crime family, netting them 15 million euros ($21 million), Milan’s financial police said. The stock was manipulated in U.S. trading from 2004 to 2008, according to an e-mail distributed today by the financial police, which conducted the investigation. The […]

HSBC customer claims for anti money-laundering delay – Banks could in future have to compensate customers whose transactions are delayed by anti money-laundering procedures that are poorly applied, The Times has reported. In the case of Shah and another v HSBC Private Bank (UK) Ltd, the Court of Appeal has ruled that Jayesh Shah and […]

HSBC accused of aiding ‘unusual’ Angolan $50m money transfer – The Bank insists it complies with the law after US senate report says transaction should not have been allowed. HSBC has been accused by a leading US senator of helping to facilitate the transfer of $50m (£31m) to one of its Bahamian subsidiaries into a […]

Terrorism Financing Linked to Online Gambling – At the recent “Cybercrime in Betting and Gaming” conference in London it was revealed that security services are conducting 23 current investigations in which it is possible that terrorist organizations have used online gambling channels to transfer funds. Apparently these leads have come from the conviction of one […]