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South Korean Official Convicted for Laundering $1 Million in Bribes

Posted  07/19/17
By the C|C Whistleblower Lawyer Team Heon-Cheol Chi, the former Director of South Korea’s Earthquake Research Center at the Korean Institute of Geosciences and Mineral Resources (KIGAM), was convicted this week for laundering over $1 million in bribes he received from American and British companies.  His conviction followed a four-day jury trial in the U.S. District Court for the Central District of...

Five Israeli State Electric Company Executives Sentenced in Siemens Bribery Scandal

Posted  06/15/17
By the C|C Whistleblower Lawyer Team This past May, Siemens paid $43 million to settle bribery allegations involving its business with the Israeli government. Siemens was accused of bribing executives at the Israeli state-owned power company to win contracts to manufacture power turbines. The conduct allegedly went on between 1999 and 2005, during which time Israel purchased more than $650 million worth of gas...

Banamex USA Agrees to Forfeit $97 Million in Connection with Bank Secrecy Act Violations

Posted  05/23/17
By the C|C Whistleblower Lawyer Team As reported in today's New York Times, Los Angeles Times, and other news outlets On Monday, Citigroup agreed to pay $97.4 million in a settlement after a long federal investigation into Banamex USA. In exchange, the Justice Department will not file criminal charges against the bank in connection with inadequate oversight of Banamex USA, which is based in California. Even as...

Spanish Court to Question Former HSBC Executives in Tax Probe Triggered by Whistleblower

Posted  05/5/17
By the C|C Whistleblower Lawyer Team Spain's High Court is to question seven former executives from HSBC's Swiss private bank as part of an investigation into alleged money laundering and tax fraud triggered by tax information leaks from former employee turned whistleblower Herve Falciani. The court said in a ruling that it had decided to widen the investigation to study the flow of funds from HSBC's Swiss...

ɃA££$¥ ฿RIɃ€$: Don’t Cry for José López, Argentina

Posted  08/3/16
By Max Voldman Former Argentine President Cristina Fernández de Kirchner’s public works secretary, José López, was arrested last week after he was spotted throwing sacks of cash over a nunnery wall in the middle of the night. Observing the strange scene, a concerned neighbor, fearing for the nuns’ safety, called the police. When police arrived, Mr. López was with the nuns, claimed to be a church official,...

In Their Own Words — May

Posted  04/25/16

-- "The laundering of proceeds of crime through UK institutions is not only a financial crime, it fuels political instability around the world, supports terrorists and extremism and poses a direct and immediate threat to our domestic security and our overseas interests."

UK Home Secretary Theresa May on proposed new anti-money laundering law. Click here for more.

DOJ Catch Of The Week -- VimpelCom

Posted  02/22/16
By the C|C Whistleblower Lawyer Team This week's Department of Justice "Catch of the Week" goes to Amsterdam-based telecommunications company VimpelCom Limited.  Yesterday, the company and its wholly owned Uzbek subsidiary, Unitel LLC, agreed to pay roughly $795 million under settlements with the DOJ, U.S. Securities and Exchange Commission and the Public Prosecution Service of the Netherlands (Openbaar...

European Parliament Resolution Provides Hope For The Possibility Of Financial Rewards For European Whistleblowers

Posted  12/11/15
By Richard Pike and Yulia Tosheva On 25 November 2015, the European Parliament adopted a resolution on tax rulings which calls on the European Commission to propose, by June 2016, an EU legislative framework for the effective protection of whistleblowers. The European Parliament: Stresses that it is not acceptable that citizens and journalists can be subject to prosecution rather than legal protection when...

New York State Enforcement Spotlight -- Deutsche Bank

Posted  11/6/15
By the C|C Whistleblower Lawyer Team On Wednesday, the New York State Department of Financial Services (NYDFS) announced that Deutsche Bank will pay $258 million for New York Banking Law violations stemming from financial transactions it made on behalf of countries and entities subject to US sanctions.  Specifically, the government found that from at least 1999 through 2006, Deutsche Bank conducted more than...

Whistleblower Spotlight – HSBC Whistleblower Hervé Falciani

Posted  02/19/15
By the C|C Whistleblower Lawyer Team This week’s “Whistleblower Spotlight” shines on HSBC whistleblower Hervé Falciani. Mr. Falciani blew the whistle in 2006 on HSBC Private Bank in Switzerland allegedly helping its wealthy customers avoid taxes and hide millions of dollars.  He has been on the run from Swiss authorities since 2008, after they accused him of stealing data and violating bank secrecy laws by...
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