Rushe – Financial Treason & Crime

Dominic Rushe , Lily Kuo, 06 August 2019

China stepped up the trade war rhetoric on Tuesday, accusing the US of “deliberately destroying international order” with “unilateralism and protectionism”.

A day after Washington branded China a currency manipulator in a rapidly escalating trade dispute, China’s central bank said it “deeply regretted” the move by the US and said such behaviour “seriously undermined international rules” and damaged the global economy. Continue reading “Article: China accuses US of ‘deliberately destroying’ world order”

07/19/201303/03/2021

Article: SEC charges Steven Cohen for failing to act on insider trading ‘red flags’

Article - Media, Publications

SEC charges Steven Cohen for failing to act on insider trading ‘red flags’

Dominic Rushe , 19 July 2019

Regulators have filed charges against billionaire investor and famed art collector Steven Cohen for failing to act on “red flags” suggesting insider trading at his hedge fund.

The move is a major blow for the founder of SAC Capital, whose company has been under investigation by the FBI, Securities and Exchange Commission (SEC) and other regulators for years. While the civil charges stop short of accusing Cohen of fraud, the SEC said he failed to spot signs that indicated insider trading by two portfolio managers at his Stamford, Connecticut, hedge fund. Continue reading “Article: SEC charges Steven Cohen for failing to act on insider trading ‘red flags’”

12/11/201203/31/2021

Article: HSBC pays record $1.9bn fine to settle US money-laundering accusations

Article - Media, Publications

HSBC pays record $1.9bn fine to settle US money-laundering accusations

Jill Treanor and Dominic Rushe, 11 December 2012

HSBC was guilty of a “blatant failure” to implement anti-money laundering controls and wilfully flouted US sanctions, American prosecutors said, as the bank was forced to pay a record $1.9bn (£1.2bn) to settle allegations it allowed terrorists to move money around the financial system.

Hours after the bank’s chief executive, Stuart Gulliver, said he was “profoundly sorry” for the failures, assistant attorney general Lanny Breuer told a press conference in New York that Mexican drug traffickers deposited hundreds of thousands of dollars each day in HSBC accounts. At least $881m in drug trafficking money was laundered throughout the bank’s accounts. Continue reading “Article: HSBC pays record $1.9bn fine to settle US money-laundering accusations”