Crime : Page 16

Wells Fargo to pay $1 billion to settle shareholders' class-action lawsuit

May 17, 2023 Wells Fargo has agreed to a pay $1 billion to settle a lawsuit filed by its shareholders who alleged the bank made misleading statements about its compliance with federal regulators after a fake account-opening scandal came to light in 2016.

Goldman Sachs fined $7 million by ECB over credit risk reporting

May 15, 2023 The European Central Bank said on Monday it had fined Goldman Sachs\' European unit 6.63 million euros ($7.3 million) for underreporting the risk associated with some corporate credit, thereby flattering its balance sheet.

Bank of Nova Scotia to pay $15m penalty for recordkeeping and supervision failures for unapproved communication methods

May 15, 2023 The Commodity Futures Trading Commission issued an order simultaneously filing and settling charges against The Bank of Nova Scotia, a provisionally registered swap dealer and Scotia Capital USA, a futures commission merchant.

HSBC Bank USA settles deceptive trading charges

May 15, 2023 The Commodity Futures Trading Commission issued an order simultaneously filing and settling charges against HSBC Bank USA, a provisionally registered swap dealer.

HSBC Bank USA settles recordkeeping charges

May 15, 2023 The Commodity Futures Trading Commission issued an order simultaneously filing and settling charges against HSBC Bank USA, a provisionally registered swap dealer, HSBC Securities USA, a futures commission merchant, and HSBC Bank, a provisionally registered swap dealer (collectively HSBC Affiliates).

Mowi Scotland fined £800k after death of fish farmer

May 13, 2023 Mowi Scotland has been fined £800,000 following the death of a fish farmer in the Scottish Highlands.

Dutch medical supplier Philips to pay more than $62 million to settle FCPA charges

May 13, 2023 The Securities and Exchange Commission announced that Amsterdam-based Koninklijke Philips N.V. will pay more than $62 million to resolve charges that it violated the Foreign Corrupt Practices Act (FCPA) with respect to conduct related to its sales of medical diagnostic equipment in China.

Conviction for smuggling millions of cigarettes in EPPO investigation in Croatia

May 10, 2023 In January this year, the European Public Prosecutor’s Office (EPPO) in Zagreb filed an indictment against six defendants for the illegal trade of cigarettes, tax or customs duty evasion and bribery, committed as part of a criminal organisation.

McDonald’s franchisees in Kentucky pay $212k in fines after investigations find 305 minors working illegally

May 5, 2023 Investigators from the department’s Wage and Hour Division found two 10-year-old workers at a Louisville McDonald’s restaurant among many violations of federal labor laws committed by three Kentucky McDonald’s franchise operators.

Croatian data protection agency fines B2 Kapital EUR 2.26 million over GDPR failure, criminal investigation ongoing

May 4, 2023 The Personal Data Protection Agency imposed an administrative fine on B2 Kapital in the amount of EUR 2,265,000.00 for the established violations of the General Data Protection Regulation.

U.S. judge ordered South African executive to pay more than $3.4 billion in restitution and fines

May 3, 2023 A U.S. judge ordered a South African executive to pay more than $3.4 billion in restitution and fines for a fraud scheme involving Bitcoin, the highest civil monetary penalty in any US Commodity Futures Trading Commission case.

African Development Bank debars Société Bel Mabrouk Des Travaux and Investissements for 13 months

April 28, 2023 The African Development Bank Group announces the 13-month debarment of Société Bel Mabrouk Des Travaux et Investissements with effect from 11 April 2023.