ENFORCEMENT

AML / KYC

Abu Dhabi State Funds to Pay $1.8b Settlement to 1MDB

By Editors | 01/03/2023

Executives at the two Abu Dhabi funds facilitated the theft of billions of dollars from 1MDB. The settlement ends proceedings in the UK.

Crypto / Digital Assets

Third FTX Executive Pleads Guilty to US Fraud Charges

By Manesh Samtani | 01/03/2023

Nishad Singh created the software code that allowed FTX customer funds to be diverted to the Alameda Research hedge fund.

Crypto / Digital Assets

Class Action Alleges Banks, VC Firms Were Complicit in FTX Fraud

By Manesh Samtani | 01/03/2023

The lawsuit seeks damages from four banks, one banking executive, ten investment firms, a law firm, and two accounting firms.

Enforcement

Five Banks Settle Allegations They Aided Ponzi Scheme

By Mark Johnston | 28/02/2023

Toronto-Dominion Bank, HSBC Holdings, Independent Bank Group, Societe Generale and Trustmark Corp agreed to pay a combined USD 1.6 billion.

Enforcement

ASIC Commences First Court Action for Alleged Greenwashing

By Sanday Chongo Kabange | 28/02/2023

ASIC alleges Mercer Superannuation made misleading statements about investment options that were marketed as suitable for members ‘deeply committed to sustainability’.

Enforcement

SFC Bans Former Dah Sing Bank Representative for Life

By Editors | 28/02/2023

The former relationship manager convinced an elderly customer to redeem an investment and then used the proceeds to repay his own debts.

Enforcement

New York AG Files Suit Against Crypto Exchange CoinEx

By Editors | 28/02/2023

CoinEx falsely represented itself as being an exchange and did not register as a securities and commodities broker-dealer.

Enforcement

US SEC Penalises SPAC for Allowing Embezzlement by CFO

By Editors | 27/02/2023

A lack of internal controls and oversight allowed the SPAC’s CFO to misappropriate cash and falsify financial reports for over a year.

Crypto / Digital Assets

US Prosecutors Unveil More Charges Against FTX Founder

By Editors | 26/02/2023

The additional charges allege that Sam Bankman-Fried conspired to commit bank fraud and to make more than 300 illegal political donations.