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The CBI's Anti-Corruption Branch in Chennai has initiated an investigation into two Pakistani companies, a New Zealand firm, and Credit Suisse for allegedly defrauding the National Textiles Corporation Ltd of Rs 6 crore. The case stems from a 2015 transaction involving 100 containers of cotton textiles, where NTCL claims it never received payment or the original documents. Following a stalled investigation by local police, the case was transferred to the CBI for further action.
Aleksei Andriunin, CEO of the cryptocurrency market-making firm Gotbit, pleaded guilty to market manipulation and wire fraud in a Boston federal court. The 26-year-old Russian national was extradited from Portugal after being arrested in October 2024. Prosecutors revealed that Gotbit engaged in "wash trading" from 2018 to 2024, inflating token volumes and generating millions in sham trades. As part of the FBI's "Operation Token Mirrors," Andriunin faces a recommended sentence of up to two years in prison and will forfeit approximately $23 million in cryptocurrency, with sentencing scheduled for June 16.
The former North American CEO of UBS has agreed to a $4.9 million judgment to resolve allegations of failing to file timely or accurate foreign bank account reports. This settlement concludes claims related to his financial reporting responsibilities.
DIGITALEUROPE has suspended Huawei from its membership following a Belgian investigation into alleged bribery involving EU lawmakers. The trade association emphasized that the suspension is a precautionary measure and does not imply guilt, while four individuals face charges related to corruption and criminal organization. Huawei's presence has been removed from DIGITALEUROPE's website, although it remains associated with various think tanks and trade groups in the EU.
A former Credit Suisse manager has been fined for failing to report suspicions of money laundering related to the Mozambique affair, where $2 billion in loans were misappropriated by corrupt officials. Despite negative media reports and high corruption risks in Mozambique, the manager did not alert authorities until 2019, after the scandal became public. She plans to appeal the decision, claiming the choice not to report was not hers.
HSBC Bank Plc disclosed its dealings as an exempt principal trader related to Greencore Group plc on 19 March 2025. The bank sold 360 ordinary shares at prices ranging from 184.000 p to 184.400 p and increased a long position by 360 shares at 184.296 p. No indemnity or voting rights agreements were reported.
BNP Paribas’ Securities Services has been selected by ProCapital, a subsidiary of Crédit Mutuel Arkéa, to provide a comprehensive suite of services across European markets, including custody, clearing, and securities lending. This partnership enhances ProCapital's operational efficiency through BNP Paribas’ integrated Execution-to-Custody solution, building on their existing collaboration in North America since 2021. Both companies emphasize their shared commitment to delivering high-quality service and client satisfaction.
The European Union has initiated actions against Google and Apple for alleged breaches of the Digital Markets Act. Google faces accusations of self-preferencing in search results and limiting app developers on its platform, while Apple is urged to enhance interoperability for third-party developers. Apple contends that these requirements may stifle innovation and intends to engage further with the EU.
Lara Warner, the former Compliance Chief of Credit Suisse, has been fined 100,000 Swiss francs ($114,000) by Switzerland's finance ministry. The penalty stems from her failure to report a suspicious transaction of 7.9 million francs linked to Mozambique's finance ministry in 2016.
Credit Suisse's former head of compliance has been fined 100,000 Swiss francs ($114,000) by the Swiss finance ministry due to lapses related to the Mozambican tuna bonds scandal. The bank, now part of UBS, previously paid hundreds of millions of dollars to US and UK regulators for its involvement in the scandal.
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cbi investigates international firms for alleged fraud against national textiles corporation
04:42 22.03.2025
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