Corruption Currents: Hedge Funds Avoided Anti-Money-Laundering Compliance Requirements

Corruption Currents: Hedge Funds Avoided Anti-Money-Laundering Compliance Requirements

A daily roundup of corruption news from across the web. We also provide a daily roundup of important risk & compliance stories via our daily newsletter, The Morning Risk Report, which readers can sign up for here.


Chinese prosecutors ordered the arrest of four former senior executives at units of the country's largest distressed debt manager for suspected bribery. None could be reached for comment. (Reuters)

A former assistant basketball coach at the University of Arizona pleaded guilty to chargesin the U.S. probe of bribery in the college sport. (AP, NYDN, ESPN)

Sri Lanka's parliament approved an expansion of the country's anti-bribery commission. (FT)

A Ghanaian lawmaker who promised to pay anyone who attacked a journalist was questioned by lawmakers after the reporter was killed. (AFP)

Argentina's president signed a decree widening the government's power to seize goods obtained through bribery. (Bloomberg)

The former chief operating officer of a South African services company gave more evidenceto a public inquiry into bribery of officials. (EWN, BL, Bloomberg, EWN, SL, M&G, News24, M&G)

A Cypriot court is allowing disputed evidence into a bribery trial. (CM)

The retrial of a New York county executive has begun, and prosecutors are focusing on his wife's low-show job. (Newsday, Newsday, LIP, Newsday)


Phishing schemes are targeting customers of Singaporean banks. (ST)

The Department of Homeland Security issued an emergency order to prevent domain hijacking. (CS)

North Korean hackers infiltrated Chile's ATM network after a job interview over Skype. (ZDNet)


Cristiano Ronaldo pleaded guilty to tax fraud in a Spanish court; he won't serve prison time. (AP, BBC)

A former NBA executive pleaded guilty to fraud charges for allegedly trying to steal millions from the Sacramento Kings, his former employer. (SB)

There were new charges brought in a fraud case involving a polygamist sect. (SLT)

Money Laundering

Investment firms such as hedge funds and private-equity companies have fended off multiple attempts by U.S. regulators to require them to establish anti-money-laundering compliance programs. (ProPublica)

Danske Bank A/S faces the threat of more investment lawsuits. Denmark is tightening the rules on finance managers in the wake of Danske's money-laundering scandal. (Reuters, Law360, Reuters, Reuters)

Calls are mounting in British Columbia for a public inquiry into money laundering and organized crime. Will the federal government help? (GN, OC, Straight, GN, News1130, Star, CTV, CP, CBC)

Show horses were seized in a U.S. money-laundering case involving a former Venezuelan national treasurer. (MH)

A Scottish company accused in a multi billion-dollar money-laundering scandal allegedly had accounts at a defunct Maltese bank. (MI)

Leonid Teyf, a wealthy Russian man living in North Carolina and charged in a money-laundering case involving a murder-for-hire plot, was ordered by a judge to stay behind bars because he is a flight risk. (WRAL)

An Ohio man, his son and a business partner turned themselves in following a years-long investigation of alleged money laundering, an illegal animal slaughter operation and dumping blood into a waterway. (

A Bulgarian socialist member of parliament was charged with money laundering; the story didn't contain a response. (Novinite)


Two ships on fire in the Black Sea region went ablaze while conducting a ship-to-ship fuel transfer in the sea after one of the vessels was barred from using a port due to U.S. sanctions. (FT, Reuters)

The EU added to its Syria sanctions list. It moved closer to imposing sanctions on Cambodia. (WSJ, ES, Bloomberg)


A former Mossack Fonseca employee was extradited to Germany. (OCCRP)

General Anticorruption

Four people are on trial in Paris over the 2013 horse-meat scandal. (BBC)

China busted a syndicate allegedly using Macau casinos to remit billions into the mainland. (SCMP)

The World Anti-Doping Agency won't renew its suspension of Russia. (FT)

Chinese authorities have collected $1.62 billion in unpaid taxes from celebrities since targeting the entertainment industry with a crackdown. (Reuters)

Eight candidates for Ukraine's anticorruption court were vetoed. (KP)

A Russian pop star who arranged a now-infamous 2016 meeting at Trump Tower hascanceled a U.S. tour, citing fears he would be detained. The U.S. special counsel's probecontinues, as the Supreme Court allowed a mysterious state-owned company to file an appeal under seal. A Leonardo da Vinci painting is now part of the alleged conspiracy. (CNN, Bloomberg, NBC, Guardian, TPM, BuzzFeed, CNN, Reuters, Politico, Vox, ABC) es un sitio web oficial del Gobierno Argentino