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Banking Scandal

All articles tagged with #banking scandal

finance1 year ago

Lombard Odier Faces Money Laundering Indictment

Swiss prosecutors have indicted Lombard Odier, one of Switzerland's oldest private banks, and a former employee on charges of aggravated money laundering. The charges relate to concealing proceeds from a criminal organization led by Gulnara Karimova, daughter of Uzbekistan's late president. The bank, under investigation since 2016, denies the allegations and plans to defend itself, claiming the case arose from its own proactive reporting to authorities.

via CNBC|
#banking-scandal#finance#gulnara-karimova
business2 years ago

Banking Scandal: CEO Quits, BBC Apologizes, and Nigel Farage's Account Closure

NatWest Group CEO Alison Rose has resigned after admitting to discussing the details of Nigel Farage's bank account with a BBC reporter, leading to the termination of his account by sister lender Coutts. The controversy surrounding the termination of Farage's account has sparked political and regulatory ramifications, as well as debates about free speech. The bank, which is 39% owned by the British taxpayer, has launched an independent review of the events. The Financial Conduct Authority has raised concerns and will decide if further action is necessary. Farage is calling for the resignation of the entire NatWest Group executive board and a regulatory overhaul of Britain's banking sector.

via CNBC|
#alison-rose#banking-scandal#business