Prosecutors on Friday indicted 32 people on fraud and money laundering charges related to the cryptocurrency trading platform ACE Exchange, recommending sentences of at least 20 years in prison for the four primary suspects. Among those indicted by the Taipei District Prosecutors’ Office were ACE Exchange founder David Pan (潘奕彰), his business partner, Lin Keng-hong
Boeing said Wednesday that it lost $355 million on falling revenue in the first quarter, another sign of the crisis gripping the aircraft manufacturer as it faces increasing scrutiny over the safety of its planes and accusations of shoddy work from a growing number of whistleblowers. CEO David Calhoun said the company is in “a
Hongkongers are knowledgeable about investments but still expose themselves to scams because they tend to forget useful advice, according to the head of a body dedicated to making residents smarter with their money. Victor Dawes, chairman of the Investor Financial Education Council, said interest in investment was prevalent in the city, but an ever-evolving list
LINCOLN, Neb. (Nebraska Examiner) – Who deserves $3.6 million in life insurance proceeds: the family of a Lincoln businessman implicated in a multimillion-dollar fraudulent loan scheme, or the financial institutions ripped off by Aaron Marshbanks? That question was argued Friday in court as the effort continues to resolve more than $34 million in claims against
Weird But True By Snejana Farberov Published April 18, 2024, 1:06 p.m. ET It should have been a dead giveaway. The Brazilian woman who took her dead uncle into a bank to sign a loan in her name arrived there by taxi — with video even showing the driver helping her move the corpse from
World News By Chris Harris Published April 13, 2024, 5:46 p.m. ET Nine gang members have been busted around the world for swindling over $686 million from people in 35 different countries by getting them to invest in a non-existent medicinal marijuana business. The Spanish National Police announced the arrests early Saturday in an X
Morgan Stanley shares fell the most in five months after a report that a cadre of U.S. regulators are scrutinizing the firm’s efforts to prevent potential money laundering by wealthy clients. The Securities and Exchange Commission, the Office of the Comptroller of the Currency and other Treasury Department offices are digging into whether the New
Several countries — especially those that can borrow at low cost from financial markets — are reluctant to carry out unpopular domestic reforms in exchange for loans which they will have to eventually hand back to the Commission. An EU official said the Commission introduced stricter checks as a sop to frugal governments, mainly countries
Real estate developer Penny Bradley was convicted by a New York jury of forging signatures on loan documents and stealing money from investors that was supposed to go toward the restoration of an Upper East Side townhouse. Manhattan D.A. Alvin Bragg alleged Bradley used the forged signatures to obtain a $11.5 million loan for a
A jury in Manhattan found Singapore-based Terraform Labs and its founder Do Kwon liable on civil fraud charges on Friday, agreeing with the Securities and Exchange Commission that they misled investors before their stablecoin’s 2022 collapse shocked cryptocurrency markets. The jury delivered the verdict in federal court after a two-week trial after hearing closing arguments earlier in the