Wednesday, January 15

Tag: AMERS

Costa Rica arrests ex-Panama presidential hopeful tied to money laundering case
5Dec By adminNo Comments
Money

Costa Rica arrests ex-Panama presidential hopeful tied to money laundering case

SAN JOSE/PANAMA CITY, Dec 5 (Reuters) - Costa Rican police on Tuesday arrested Panamanian businessman and former presidential hopeful David Ochy on charges of fraud and money laundering, judicial authorities said on Tuesday, following an Interpol request.Ochy was wanted by Interpol for being central to a case linked to former Panamanian President Ricardo Martinelli, who was in July sentenced to over a decade in prison for money laundering.Ochy enrolled as a presidential pre-candidate for Martinelli's Realizing Goals party ahead of the 2024 vote, which protected him from facing trial in the Martinelli case last summer. That immunity has since been lifted.Randall Zuniga, head of the country's judicial investigation unit, told a press conference that Ochy arrived in Costa Rica over three mon...
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Cryptoverse: Bitcoin miners make money ahead of ‘halving’
14Nov By adminNo Comments
Money

Cryptoverse: Bitcoin miners make money ahead of ‘halving’

A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsNov 14 (Reuters) - Bitcoin miners are making hay while the sun shines.The business has been yanked out of the doldrums by the cryptocurrency's recent rally - and now mining companies are racing to lock in profits before bitcoin's "halving", when rewards for producing the tokens are cut in half.The next halving is expected in April 2024, a process designed to slow the release of bitcoin, whose supply is capped at 21 million - of which 19 million have already been mined."You're seeing a lot of urgency to plug rigs in ahead of the halving," said Gregory Lewis, analyst at brokerage BTIG that covers the 13 biggest U.S.-listed bit...
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Money matters as Republicans Scalise, Jordan vie for US House speaker
6Oct By adminNo Comments
Money

Money matters as Republicans Scalise, Jordan vie for US House speaker

U.S. Representative Steve Scalise (R-LA) speaks with Rep. Jim Jordan (R-OH) prior to the testimony of Federal Reserve Chair Jerome Powell before U.S. House Oversight and Reform Select Subcommittee on coronavirus crisis on Capitol Hill in Washington, U.S., June 22, 2021. Saul Loeb/Pool via REUTERS/ File Photo Acquire Licensing RightsWASHINGTON, Oct 6 (Reuters) - The two declared candidates for speaker of the U.S. House of Representatives, Republicans Steve Scalise and Jim Jordan, stand out as top campaign fundraisers in their caucus, with Scalise holding an edge in dollars contributed to party allies.Several factors will play into how the 221-member House Republican conference will cast their votes, possibly as soon as Wednesday, in a race for the party nomination for speaker, following t...
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Column: J&J wants Congress to halt litigation-funded mass torts ‘money play.’ Are lawmakers listening?
13Sep By adminNo Comments
Money

Column: J&J wants Congress to halt litigation-funded mass torts ‘money play.’ Are lawmakers listening?

Sept 13 (Reuters) - A Johnson & Johnson attorney told the U.S. House Oversight and Accountability Committee on Wednesday that outside funding of mass torts personal injury claims has turned the civil justice system into “a money play: driven, funded and distorted by legal and financial entrepreneurs.”In written testimony, J&J assistant general counsel Aviva Wein urged Congress to enact laws (or endorse proposed changes to the federal rules for civil litigation) to require disclosure when outside financiers are backing plaintiffs. She also asked lawmakers to take on the job of regulating the litigation finance industry and to curb allegedly misleading advertisements designed to generate mass tort claims.A bevy of business groups, including the U.S. Chamber of Commerce, the National...
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Global money market funds attract biggest weekly inflows in three months
8Sep By adminNo Comments
Money

Global money market funds attract biggest weekly inflows in three months

Saudi riyal, yuan, Turkish lira, pound, U.S. dollar, euro and Jordanian dinar banknotes are seen in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsSept 8 (Reuters) - Global money market funds attracted robust inflows in the week ended Sept. 6, as investors gravitated towards safer options amid concerns over slowing growth in China and Europe as well as uncertainty regarding the Federal Reserve's interest rate outlook.Investors poured about $57.38 billion into global money market funds in their most significant weekly net purchases since June 7, LSEG data showed.Reuters Graphics Reuters GraphicsInvestors favoured safer assets on worries that a slowdown in China and Europe would weigh down global growth.Data from the euro area and Britain s...
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US money market funds draw biggest inflow in four months
4Aug By adminNo Comments
Money

US money market funds draw biggest inflow in four months

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. REUTERS/Rick Wilking/File PhotoAug 4 (Reuters) - U.S. money market funds saw robust demand in the seven days to Aug. 2 as investors favoured safer assets on concerns over a U.S. credit rating downgrade and economic reports signalling a still-tight labour market.Investors secured U.S. money market funds worth about $58.56 billion in their biggest weekly net buying since March 29, data from Refinitiv Lipper showed.Reuters Graphics Reuters GraphicsU.S. equity funds drew $133 million worth of inflows, compared with about $2.57 billion worth of net purchases a week ago.U.S. equity growth funds saw net outflows worth $3.48 billion, the biggest since June 7, but value fu...
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Colombian President Petro’s son arrested in money laundering probe
30Jul By adminNo Comments
Money

Colombian President Petro’s son arrested in money laundering probe

[1/3]Police officers walk outside the attorney general's office on the day Nicolas Petro, son of Colombia's President Gustavo Petro, was arrested as part of an investigation into money laundering and illicit enrichment, in Bogota, Colombia, July 29, 2023. REUTERS/Vannessa JimenezBOGOTA, July 29 (Reuters) - Nicolas Petro, son of Colombian President Gustavo Petro, has been arrested as part of an investigation into money laundering and illicit enrichment, the attorney general's office said early on Saturday.The younger Petro, a politician in Atlantico province, had welcomed the investigation when it began in March and has previously called accusations that he took money from drug traffickers in exchange for including them in his father's peace efforts to end civil strife unfounded and harmfu...
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Fed fines Deutsche $186 mln for slow progress in money laundering curbs
19Jul By adminNo Comments
Money

Fed fines Deutsche $186 mln for slow progress in money laundering curbs

WASHINGTON, July 19 (Reuters) - The Federal Reserve said on Wednesday it fined Deutsche Bank and its U.S. affiliates $186 million for failing to sufficiently address money laundering and other shortcomings flagged by the U.S. central bank.Deutsche must prioritize addressing several of those issues or face "additional and escalated" penalties, said the Fed, which imposed additional restrictions and ordered the bank to improve its risk and data management.The Fed identified the previous issues in 2015 and 2017 consent orders, which stemmed from deficient controls in Deutsche's relationship with the Estonian branch of Danske Bank which ended in 2015.In December, Danske Bank pleaded guilty to a bank fraud conspiracy and agreed to forfeit $2 billion to settle a long-running Department of Justi...
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Australia court approves $300m money laundering fine for Blackstone’s Crown Resorts
11Jul By adminNo Comments
Money

Australia court approves $300m money laundering fine for Blackstone’s Crown Resorts

SYDNEY, July 11 (Reuters) - An Australian court signed off on a A$450 million ($300 million) fine for Blackstone-owned (BX.N) casino operator Crown Resorts for breaking anti-money laundering laws, ending the darkest chapter in the company's history.The company, dominated by billionaire founder James Packer before he agreed to sell last year, agreed to the payment in May after allegations over wide-ranging governance problems sparked inquiries in all the states in which it operated, plus an investigation by the financial crime watchdog. read more But the fine needed the sign-off of the federal court, which approved the penalty, Australia's third-largest corporate fine, on Tuesday."The penal orders reflect the serious and unacceptable nature of the contraventions", judge Michael Lee said i...
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