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...A Signa Group company transferred more than €300mn to two entities controlled by the family of its Austrian founder René Benko before the collapse of the property giant, according to financial documents...
...The money was paid out in 2023, when the analysis stated it was already well known to SDS’s management, as reported in the company’s financial updates, that the company was financially under strain and it...
...Goldman has seen a spate of high-profile women leave, including Beth Hammack, who was once touted as a potential chief financial officer of the bank; Dina Powell McCormick, who left to join merchant bank...
...Another person who attended a briefing said that the government sought to reassure those present that financial institutions were not going to face unnecessary regulation in the wake of a $2.2bn money laundering...
...Another creditor said they had repeatedly sought clarity on huge money flows from Signa Development to other Signa Group entities, as well as entities controlled by Benko’s private family foundation, but...
...one count of money laundering last week....
...entities “continue to use London as a financial centre”....
...The Swiss bank Julius Baer has been a prominent casualty....
...Its former chief executive, Changpeng Zhao, also pleaded guilty to a criminal charge related to money laundering and resigned from his position....
...A higher profile will mean more tests for the sector’s friendly image. Nationwide launched a TV advert last year ridiculing the branch-cutting “big banks”....
...GE completed its long-awaited plan to break into three, with shares in each of the entities closing lower as the once-mighty US conglomerate drew the curtain on more than a century of corporate history....
...Prosecutors are probing whether Benko and Signa misled the bank regarding the company’s financial health. The loan was collateralised with shares in Signa Group entities....
...And I think it’s fair to ask the questions when you have such a significant stake, are you truly passive? How are you communicating with the entities?...
...The agency will be staffed with 250 financial crimes experts tasked with directly supervising 40 banks and other financial entities considered to be high-risk and active in at least six EU countries....
...A spokesperson for the prosecutor confirmed to the Financial Times on Thursday that preliminary investigatory proceedings had been initiated....
...the mutual’s members might ask as the UK’s biggest building society weighs up an agreed offer for the challenger bank Virgin Money....
...“When someone cannot have a bank account to hold their money independently, they are more likely to rely on a third party to hold their money for them, such as a partner who could potentially then abuse...
...Greensill Bank collapsed less than six months later and German prosecutors opened a criminal investigation into the bank’s management....
...Munich’s public prosecutor has opened a preliminary probe into one Signa entity under suspicion of money laundering last month....
...The US part of the BGI business was acquired through a corporate structure that included a UK tax resident entity, LLC5, which was funded by $4bn of loans from another BlackRock group entity based in the...
...To take but one data point, the World Bank found in 2011 that the US formed more anonymous legal entities than 41 tax havens combined — a trajectory that has, by all appearances, only continued since....
...Old rules are revised slowly — Reg Q was introduced in 1933 — disadvantaging banks. Third, financial product innovation is a vital enabler....
...Macro types simply love to chat about the prospect of central banks running out of money....
...The banker charged on Wednesday is alleged to have deposited large sums of money at his bank in his own name at the start of 2008, while in fact the money belonged to a third party, who wished to conceal...
...It is now well documented that art provides a lucrative and untraceable funding source for blacklisted individuals and entities....
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