Dubai – Financial Treason & Crime

David Smith , 14 July 2021

The place was Dubai. The star was Tina Turner. “As the American pop legend belted out Simply the Best,” write authors Simon Clark and Will Louch, “guests sipped vintage champagne served from an ice bar that was melting slowly into the Arabian sand on the beach, fire dancers performed and cigar rollers flown in from Cuba handed out their aromatic wares.”

The host of the party was Arif Naqvi, founder of Abraaj, a private equity fund that managed nearly $14bn and had stakes in a hundred companies. Its investors were treated to oratory from Bill Clinton, the former US president, and dinner with Buzz Aldrin, the second man on the moon. Arif’s promise to give capitalism a conscience seduced western governments and billionaire Bill Gates. Continue reading “Article: A financial fairytale: how one man fooled the global elite”

06/28/202106/29/2021

Article: Moez Kassam & Anson Funds Part II: Rotten To The Core

Article - Media

Moez Kassam & Anson Funds Part II: Rotten To The Core

Market Frauds, 28 June 2021

Note to all readers: The Canadian regulators (OSC and IIROC) are asking people for information on illegal trading strategies. If you or a company or investor have been hurt by Anson Funds please do not remain silent. Get in touch with the OSC and file a formal complaint. This really is your only chance to be heard. Make it count! You can also send information to the SEC here: https://www.sec.gov/whistleblower Continue reading “Article: Moez Kassam & Anson Funds Part II: Rotten To The Core”

05/24/202105/25/2021

Article: Dubai gold trader fined Dh1.35m for failing to comply with anti-money laundering and terrorism financing laws

Article - Media, Publications

Dubai gold trader fined Dh1.35m for failing to comply with anti-money laundering and terrorism financing laws

The National, 24 May 2021

A gold trader in Dubai has been fined a total of Dh1.35 million ($367,597) for eight separate breaches of laws governing money laundering and terrorism financing.

The unnamed company was fined as part of the Ministry of Economy’s extensive inspection campaign into Designated Non-Financial Business and Professions (DNFBPs). DNFBPs are a group of non-financial businesses governed by money laundering rules, and include precious metals dealers, property brokers, auditors and corporate services providers that offer company formation services. Continue reading “Article: Dubai gold trader fined Dh1.35m for failing to comply with anti-money laundering and terrorism financing laws”

01/14/202103/20/2021

Alleged RCMP mole accused of selling secrets to kingpin money launderer and terror-financier’s network

Article - Media, Publications

Alleged RCMP mole accused of selling secrets to kingpin money launderer and terror-financier’s network

Sam Cooper, Global News, 14 January 2021

In October 2014, Canadian intelligence leaders were invited to the U.S. Drug Enforcement Administration’s headquarters in Chantilly, Va. The DEA had a theory: the upper echelons of global money laundering, terrorism, drug-trafficking and organized crime all bleed together. And only a handful of men in this murky world of extremely powerful criminals had organizations capable of laundering more than $10 billion annually. Continue reading “Alleged RCMP mole accused of selling secrets to kingpin money launderer and terror-financier’s network”

11/24/202003/23/2021

Article: Qatar starts legal proceedings against FAB in New York in market manipulation row

Article - Media, Publications

Qatar starts legal proceedings against FAB in New York in market manipulation row

Reuters Staff, 24 November 2020

DUBAI (Reuters) – The Qatar Financial Centre Regulatory Authority (QFCRA) said on Tuesday it has started legal proceedings in New York to compel First Abu Dhabi Bank to pay $55 million in financial penalty imposed by a Qatari court.

The Qatari regulator last year had fined United Arab Emirates’ biggest bank 200 million riyals ($55 million) for obstructing an ongoing investigation into suspected market manipulation, a charge FAB denied.

“FAB has failed to make payment against this final judgment rendered by the Civil and Commercial Court (QFC Court) in the Qatar Financial Centre (QFC) thereby requiring the QFCRA to take steps to enforce the court’s judgment under well-recognised measures for international enforcement of money judgments,” the Qatari regulator said in a statement.

Qatar in 2018 alleged that First Abu Dhabi Bank, the United Arab Emirates’ largest lender, made “bogus” foreign exchange deals to harm Qatar’s economy after the UAE and other Arab states began a boycott of Qatar in 2017.

Read Full Article