Featured Asia-Pacific

UK freezes bank account linked to Azerbaijani Laundromat

British investigators have frozen a bank account linked to a multi-billion dollar Azerbaijani money-laundering scheme that a network of investigative reporters has alleged rinsed dirty money mainly through four, UK-registered shell companies. The National Crime Agency (NCA) said on Wednesday that the Account Freezing Order (AFO), part of a new… Read More

Money laundering: Ex-Birmingham City football club owner ordered to pay $43 million

A Hong Kong court has reportedly ordered Carson Yeung Ka-sing, the former owner of Birmingham City Football Club to pay up HK$338 million (US$43.2 million) worth of criminal proceeds. Prosecutors agreed with his lawyers for him to pay the money, which was less than the half of the HK$721 million… Read More

Australia’s Commonwealth Bank to book compliance costs of $216 million in first half

Commonwealth Bank of Australia (CBA.AX) said on Tuesday that it would book charges of A$300 million (170 million pounds/$216 million) that would be reflected in its first-half results ending December. The charges include a higher-than-expected compliance cost of A$100 million related to a quasi-judicial inquiry into Australia’s financial sector, the… Read More
13th December 2018
British investigators have frozen a bank account linked to a multi-billion dollar Azerbaijani money-laundering scheme that a network of investigative reporters has alleged rinsed dirty money mainly through four, UK-registered shell companies. The National Crime Agency (NCA) said on Wednesday that the Account Freezing Order (AFO), part of a new… Read More
13th December 2018
AP — Former Malaysian Prime Minister Najib Razak was charged Wednesday with tampering with the final audit report on a defunct state investment fund, adding to a long list of corruption allegations against him since his ouster in May elections. Najib was charged along with Arul Kanda Kandasamy, the former… Read More
13th December 2018
Pakistan on Wednesday denounced the United States for placing it on a list of countries violating religious freedoms, calling the designation politically motivated. U.S. Secretary of State Mike Pompeo on Tuesday added mainly Muslim Pakistan to the U.S. list of “countries of particular concern”, which have violated religious freedoms or… Read More
12th December 2018
A Hong Kong court has reportedly ordered Carson Yeung Ka-sing, the former owner of Birmingham City Football Club to pay up HK$338 million (US$43.2 million) worth of criminal proceeds. Prosecutors agreed with his lawyers for him to pay the money, which was less than the half of the HK$721 million… Read More
12th December 2018
Commonwealth Bank of Australia (CBA.AX) said on Tuesday that it would book charges of A$300 million (170 million pounds/$216 million) that would be reflected in its first-half results ending December. The charges include a higher-than-expected compliance cost of A$100 million related to a quasi-judicial inquiry into Australia’s financial sector, the… Read More
12th December 2018
A criminal gang, lead by a 42-year old law student, falsely claimed £13 million in tax repayments over a scam in which they facilitated 900 bogus visas and laundered millions. The group set up 79 bogus companies and created fake documentation which was used by Bangladeshi nationals in fraudulent… Read More
12th December 2018
AP — A Canadian court granted bail on Tuesday to a top Chinese executive arrested at the United States’ request in a case that has set off a diplomatic furor among the three countries and complicated high-stakes U.S.-China trade talks. Hours before the bail hearing in… Read More
11th December 2018
A Rio de Janeiro apartment containing cash, art works and personal belongings of Carlos Ghosn has become the latest battleground between the indicted former Nissan Motor Co Ltd (7201.T) chairman and the automaker. Ghosn is seeking to retrieve “personal belongings, documents, cash, objects and art pieces” from the beachfront apartment,… Read More
10th December 2018
AP — A British court handed charismatic Indian tycoon Vijay Mallya a substantial setback Monday by ruling he should be extradited to India to face financial fraud allegations. Judge Emma Arbuthnot Monday endorsed the Indian government’s request for Mallya’s extradition and said she would send the… Read More
10th December 2018
The governor of the Reserve Bank of India, Urjit R. Patel, has announced his resignation from the post with immediate effect. Patel said he was resigning because of ‘personal reasons.’ The development comes amid reports of a growing split between the government and the central bank. “It has… Read More
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Ex-wife of Russian billionaire secures first sliver of $572 mln divorce bill

The former British wife of a Russian billionaire, who was ordered to pay a 453 million pound divorce bill, has claimed the first sliver of the award after seizing and selling a helicopter, her advisers said on Thursday. Oil and gas tycoon Farkhad Akhmedov was ordered to pay around 40… Read More

EU agency: Cocaine dealers’ technology use complicates busts

AP — The European Union agency that monitors drug abuse says cocaine dealers are increasingly using social media and encrypted communications to do business, making it harder for authorities to crack down on the trade. The European Monitoring Center for Drugs and Drug Addiction agency… Read More