SEC takes aim at Danske Bank over money-laundering in Estonia
High-risk customer transactions generated up to 99% of the branch’s profits
Fraud
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Win some/lose some for Wirecard
…but mostly lose
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Forex cartel banks hit with €344m antitrust fine
Information was exchanged in a chatroom called Sterling Lads
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Fund service group Alter Domus hit with $55m lawsuit
Luxembourg fund group unit sued for losses linked to former management group of failed commodities fund
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Carmignac refutes tax fraud claims
The firm is under investigation by French financial authorities for tax fraud and money laundering
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Columna fund investigator urges Luxembourg regulator action
CSSF ‘needs to intervene’ to shore-up Luxembourg’s reputation after ‘grossly negligent’ actions by Sicav fund directors
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Task force set up to recover assets from Sicav ‘scam fund’
A Swiss-based private partnership created to help those who have suffered losses of assets and money from financial companies has launched a task force to recover money from the failed Columna Commodities Fund.
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Financial investigator targets Luxembourg-domiciled “scam fund”
Columna Commodities fund pretended to invest in range of commodity-linked assets when in reality the bulk of money invested in the Sicav sub-fund had been loaned to a Hong Kong shell company.
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Luxembourg-domiciled “scam fund” suspends redemptions
The Columna Commodities Fund, which pretends to invest in “a range of commodity-linked assets”, has suspended redemptions. It claimed this was due to a failure to liquidate two of its investments.
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Footballers face £100m losses on film scheme investments
Two financial advisers are responsible for losing as many as 100 top footballers more than £100m from investing in film and property ventures.