Itau (ITUB) and Other Global Banks Sued for Rate Rigging
Zacks Equity Research , 17 June 2021
Major banks might need to pump up their legal reserves, as five of them are on the radar of the Exporters’ association, AEB, and Brazil’s anti-trust watchdog, Administrative Council for Economic Defense (CADE). Reportedly, Brazil’s biggest exporters, such as Vale SA and Suzano SA, are appealing in a lawsuit for 19 billion reais ($3.77 billion) from ItauUnibanco Holding SA ITUB, Banco Santander Brasil SA BSBR, HSBC Holdings plc HSBC, Citigroup C and BNP Paribas BNPQY on grounds of alleged manipulation of the Brazilian Real (R$).
This news was first reported by Valor Economico, a Brazilian newspaper and Reuters had reviewed the court documents. Continue reading “Article: Itau (ITUB) and Other Global Banks Sued for Rate Rigging”
Thirty-four women who claim they are victims of Pornhub filed a federal racketeering lawsuit against the company’s secretive Canadian parent, MindGeek; its owners and executives; Visa, which processes payments for the porn site; and hedge fund Colbeck Capital, which underwrote a debt financing for the company. 
You’ve got to hand it to r/WallStreetBets: They’ve gotten very robust in their stock selection process as compared to the GameStop (NYSE:GME) era. The message board, which has grown significantly in the first half of the year, is picking mortgage REITs and private prisons as some of the latest meme stocks. It should not be a surprise then that the retail investor group is looking to follow whales to new frontiers, like they are doing today with Itaú Unibanco Holdings (NYSE:ITUB) stock. 
NEW CASTLE, Pa. (WKBN) – A man from New Castle was sentenced in federal court this week on drug trafficking and money laundering charges.
An investors’ association has requested the finance ministry to investigate suspicions that “trash stocks” on the HoSE are being manipulated to several hundred times their actual value. Some of the “trash stocks” are even listed in the VN30 basket which comprises the 30 largest capped stocks on the Ho Chi Minh Stock Exchange (HoSE), the Vietnam Association of Financial Investors (VAFI) said in a statement.
Two Indian-Americans were among six members of a Silicon Valley trading ring against which the US’ Securities and Exchange Commission has slapped charges for generating nearly USD 1.7 million in illegal profits by trading on the confidential earnings information of two local technology companies.
Police have seized over $70 million – mostly cash – linked to an international pyramid scheme in China and Canada.
The Commonwealth Bank of Australia (ASX: CBA) share price broke a new record high on Wednesday despite being tainted by a money laundering scandal.
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On a Saturday morning last December, Bill Ackman was scrolling through Twitter when an article in The New York Times caught his eye. “The Children of Pornhub,” by Nicholas Kristof, told how unauthorized sex — and rape and torture — videos were being spread across the internet on a website called Pornhub, one of the most popular in the world. 
The Ohio House of Representatives voted on Wednesday to expel a powerful Republican lawmaker, nearly a year after he was arrested and charged in a $60 million corruption scheme while serving as House speaker.
Trade-based money laundering and associated tax evasion is big business. Financial losses from these crimes in developing countries totalled $9 trillion between 2008 and 2017. Global trade complexities make tackling this type of money laundering difficult, but not impossible.
MINNEAPOLIS — A bankruptcy trustee’s search to recover assets linked to one of the largest financial crimes in Minnesota’s history has netted $722 million. 
Deutsche Bank AG revamped the units seeking to detect and prevent financial crimes after a number of recent compliance issues risk undermining progress in Chief Executive Officer Christian Sewing’s turnaround plan.