London Couple’s Cash Trail Led Crime Agency to Azeri Laundromat
Jonathan Browning, 14 July 2021
When U.K. authorities began investigating wealth belonging to a politically-connected Azerbaijani family, their suspicions were triggered by a raft of “brass plate” companies that funneled more than double the amount of the couple’s stated income.
Almost 14 million pounds ($19.3 million) was routed into British bank accounts controlled by Suleyman Javadov, the son of a former deputy energy minister, and his wife. Among the 21 companies that moved their wealth was Rovers Production and Tourism Ltd., which chartered a private jet to fly female models to the Spanish party island of Ibiza. Another firm’s accounts were managed by an individual who appeared to be a dentist living in Belgium. Continue reading “Article: London Couple’s Cash Trail Led Crime Agency to Azeri Laundromat”
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”
Brazil exporters demand $3.8 billion from banks for currency manipulation
Carolina Mandl, 16 June 2021
Continue reading “Article: Brazil exporters demand $3.8 billion from banks for currency manipulation”
Danske bypasses money laundering legacy in AT1 return
Tom Revell, 14 May 2021
The lender also took on a challenging market backdrop as it offered investors a US$750m perpetual non-call November 2026 Reg S transaction. The deal came after a volatile session for global stocks on Tuesday, which nudged bank subordinated debt wider in the secondary market and, in the US onshore market, saw insurer Liberty Mutual postpone a junior subordinated note issue.
Some observers were surprised by Danske’s decision to come hot on the heels of Liberty’s postponement. A 4.75% US$1bn Banco Santander AT1 offering sold on May 6 also contributed to a tricky backdrop after it struggled to perform and was bid at a cash price of 99.50 on Wednesday. Continue reading “Article: Danske bypasses money laundering legacy in AT1 return”
Fintech startup Feedzai valued at $1 billion in KKR-led funding round
Anna Irrera, 24 March 2021
LONDON (Reuters) – Financial technology group Feedzai said on Wednesday it had raised $200 million in a round led by investment company KKR valuing the startup at more than $1 billion.
Existing investors, including Sapphire Ventures and Citi Ventures, also participated in the round, the San Mateo, California-headquartered company said.
Feedzai develops artificial intelligence and machine learning technology that helps banks and other financial firms to spot and prevent payments fraud, money laundering and other types of illicit activities. Continue reading “Article: Fintech startup Feedzai valued at $1 billion in KKR-led funding round”