Preet Bharara gave the morning keynote at the second day of Compliance Week 2019. It was interesting because rather than a speech he did so with a one-hour Q&A format with Allen & Overy partner Gene Ingoglia facilitating the session through the role of the questioner.… Continue Reading
Richard Bistrong reads his emails: When ‘pajamas’ were prostitutes and ‘the Z’ was a brothel in Europe
Emails are a great window into what people are thinking and doing. They tell us a lot about attitudes toward life, business, and compliance. I had my own encounter with emails before testifying as a government witness in the Africa Sting cases.… Continue Reading
Last week the DOJ charged four bankers from Honduras in a multi-year scheme to launder drug money and bribe foreign officials through accounts located in the United States.… Continue Reading
The former chief compliance officer of WG Trading Company won’t serve time in prison after she helped prosecutors jail the firm’s two partners for a $554 million fraud scheme.… Continue Reading
A federal judge in Manhattan Friday authorized the Internal Revenue Service to issue summonses requiring Federal Express Corporation, DHL Express, United Parcel Service, Inc. and others to produce information about U.S.… Continue Reading
The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) imposed a $1 million civil penalty against the former chief compliance officer for MoneyGram International Inc.
The U.S. Attorney in Manhattan is investigating Germany’s Commerzbank AG for alleged violations of money-laundering laws, the Wall Street Journal reported Friday.
Judge Jed Rakoff of the U.S. district court in New York on Wednesday ordered Bank of America to pay a $1.27 billion fine for fraud perpetrated by Countrywide Financial Corp., a mortgage company the bank acquired in 2008.… Continue Reading
French banking giant BNP Paribas agreed to plead guilty to criminal charges and pay an $8.9 billion penalty for transferring billions of dollars on behalf of blacklisted Sudan, Iran and Cuba, U.S.… Continue Reading
U.S. authorities are seeking more than $3.5 billion from BNP Paribas SA to resolve federal and state investigations into the bank’s dealings with sanctioned countries, including Sudan, Iran and Cuba.… Continue Reading
A China national used a web of overseas front companies and U.S. financial institutions to sell nuclear-weapons-related items to Iran in violation of trade sanctions, the DOJ said Tuesday.
“As alleged, Li Fangwei has used subterfuge and deceit to continue to evade U.S.… Continue Reading