Search Results for: Department of Justice
VW Will Spend $14.7 Billion to Settle emissions scandal;the largest settlement ever paid by an automaker
July 7th, 2016
Volkswagen will spend $10 billion on affected car buybacks, $4.7 billion to “mitigate pollution” in the TDI emissions settlement. The estimated cost of Volkswagen’s U.S. diesel emissions cheating just rose by half—to nearly $15 billion, the largest settlement ever paid by ...
Australia has sold $22 million worth of seized bitcoins in a global auction
June 29th, 2016
Australia has sold $22 million worth of bitcoins seized as the proceeds of crime in a global auction. Ernst and Young transactions partner Adam Nikitins said multiple bidders claimed 24,518 units of the digital currency during the auction, which ...
Volkswagen Reportedly To Announce $15 Billion Settlement After Emissions Scandal
June 28th, 2016
Sources told Reuters and the Associated Press that the automaker would buy back or offer cash to owners of the emissions-cheating diesel models. Volkswagen will announce a settlement Tuesday with almost 500,000 owners of its diesel models built with ...
KPMG has resigned as auditor of Fifa
June 15th, 2016
KPMG Switzerland has resigned as auditor of Fifa, the world football governing body which has become mired in a corruption scandal following claims that millions of pounds have been paid to its top executives as part of corrupt deals ...
$175 Million Penalty for Citibank
May 26th, 2016
CFTC Orders Citibank, N.A. and Japanese Affiliates to Pay $175 Million Penalty for Attempted Manipulation of Yen LIBOR and Euroyen TIBOR, and False Reporting of Euroyen TIBOR and U.S. Dollar LIBOR Citibank, N.A. Has Been Subject to Three CFTC ...
Transatlantic prosecutions drive US lawyers to the City
April 12th, 2016
The widening grip of US law enforcement is feeding a wave of American lawyers heading across the Atlantic. A growing number of US law firms are sending lawyers with law enforcement experience to work in the United Kingdom. As ...
Whatsapp adds end-to-end encryption
April 6th, 2016
Instant messaging service Whatsapp has announced it will encrypt all its users’ communications from Tuesday. With end-to-end encryption, messages are scrambled as they leave the sender’s device and can only be decrypted by the recipient’s device. It renders messages ...
UBS, HSBC Offshore Dealings Thrust Into Panama Papers Spotlight
April 5th, 2016
Report describes UBS’s dealings with law firm Mossack Fonseca Both banks say they comply with laws for vetting customers UBS Group AG and HSBC Holdings Plc — two of the banks hardest hit amid a U.S. crackdown on customers’ illicit ...
HSBC comes up short in money laundering vigilance, U.S. says
April 4th, 2016
HSBC Holdings Plc has not done enough to thwart money laundering, despite making significant progress since reaching a landmark 2012 anti-money-laundering settlement with U.S. prosecutors, a federal monitor has found. The monitor “remains unable to certify that the bank’s ...
Toshiba confirms SEC investigation as accounting woes spread to US
March 18th, 2016
Securities commission and justice department examining ‘accounting problem’ at US units, says Japanese corporation, amid profit-padding crisis Toshiba has announced its US businesses are cooperating with authorities over alleged accounting irregularities and is to cut a further 3,000 jobs. The ...
