Hussain – Financial Treason & Crime

Shabbir Hussain, 03 July 2021

In a meeting of the Standing Committee on Health chaired by Nisar Ahmed Cheema, MNA Ramesh Lal alleged that some pharmaceutical companies were carrying out money laundering under the disguise of importing raw material while clearly violating laws.

Ramesha Lal, who is also a member of the health committee, said that more than a year has passed since the entire record of the case was sent to DRAP. However, he lamented, the authority has failed to explain it and present the record to the committee. Continue reading “Article: Pharmacy firms accused of money laundering”

05/19/2021

Article: Lahore court extends Jahangir Tareen’s bail in money laundering case

Article - Media, Publications

Lahore court extends Jahangir Tareen’s bail in money laundering case

Shahid Hussain, 19 May 2021

A Lahore sessions court extended Wednesday the bail of PTI leader Jahangir Tareen and his son Ali Tareen until May 31, in three money laundering and fraud cases.

The court told the Federal Investigation Agency to complete its investigation by then and not ask for more time. It had extended the bail until May 19 in the last hearing.

FIA, which has filed the cases, told the court that it needs more time to examine the heavy financial transactions done by Tareens. The court asked whether it wants to arrest the two, but the FIA said that it is still investigating, and will inform the court once it decides to arrest them. Continue reading “Article: Lahore court extends Jahangir Tareen’s bail in money laundering case”

02/11/202103/24/2021

Article: Federal agencies launch probe into possible manipulation after GameStop trading frenzy: WSJ

Article - Media, Publications

Federal agencies launch probe into possible manipulation after GameStop trading frenzy: WSJ

Noor Zainab Hussain, 11 February 2021

(Reuters) – Federal prosecutors and regulators are investigating whether “market manipulation or other types of misconduct” led to a meteoric rise in shares of companies such as GameStop and AMC, the Wall Street Journal reported on Thursday.

The Justice Department’s fraud section and the San Francisco U.S. attorney’s office have sought information about the trading from brokers and social-media companies that were hubs for the trading, the WSJ reported, citing people familiar with the matter. on.wsj.com/3abznn1

Prosecutors have subpoenaed information from brokers such as Robinhood, according to the report.

Additionally, the Commodity Futures Trading Commission has opened a preliminary investigation into whether misconduct occurred as some Reddit traders targeted silver futures, the WSJ report.

A Justice Department spokesperson did not immediately respond to a Reuters request for comment.

Read Full Article

01/08/202104/03/2021

Article: Deutsche Bank to pay nearly $125 million to resolve U.S. bribery, metals charges

Article - Media, Publications

Deutsche Bank to pay nearly $125 million to resolve U.S. bribery, metals charges

Jonathan Stempel, Noor Zainab Hussain, 08 January 2021

NEW YORK (Reuters) – Deutsche Bank AG will pay nearly $125 million to avoid U.S. prosecution on charges it engaged in foreign bribery schemes and manipulated precious metals markets, the latest blow for the bank as it tries to rebound from a series of scandals.

Germany’s largest lender agreed to the payout as it entered a three-year deferred prosecution agreement with the U.S. Department of Justice, and a related civil settlement with the U.S. Securities and Exchange Commission.

Almost all of the payout relates to charges Deutsche Bank violated the federal Foreign Corrupt Practices Act (FCPA) over its dealings in Saudi Arabia, Abu Dhabi, China and Italy, court papers show. Nearly two-thirds of the payout is a criminal fine. Continue reading “Article: Deutsche Bank to pay nearly $125 million to resolve U.S. bribery, metals charges”