Bank of Latvia president Ilmārs Rimšēvičs, was charged Thursday, June 28, with accepting bribes. Rimsevics has been a suspect of bribery since February, when he was questioned by Latvian anti-corruption authorities.
On February 13, 2018, the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a notice accusing ABLV bank of laundering money from countries like Russia and North Korea, helping them to evade sanctions, among other things. ABLV was promptly denied U.S. dollar funding. Simultaneously, depositors rushed to remove their money. Less than a week later, to prevent the bank’s disorderly collapse, the Latvian regulator and the ECB froze all payments out of ABLV. They authorised ABLV’s execution less than a week after imposing the moratorium.


Deutsche Bank AG’s (DBKGn.DE) U.S. subsidiary failed on Thursday, June 28, the second part of the U.S. Federal Reserve’s annual stress tests. “Concerns include material weaknesses in the firm’s data capabilities and controls supporting its capital planning process, as well as weaknesses in its approaches and assumptions used to forecast revenues and losses under stress,” While failing the U.S. stress test would not likely affect the banks’ ability to pay dividends to shareholders, which are typically paid out at the group level, it will require Deutsche Bank to make changes to its U.S. operations. It also means the bank would not be able to make any distributions to its German parent without the Fed’s approval.

Buffalo developer Louis Ciminelli and three other defendants face corruption charges over the awarding of contracts for several large-scale projects, including the solar plant at RiverBend in South Buffalo. Ciminelli, a major donor to Gov. Andrew M. Cuomo, is charged with wire fraud and conspiracy to commit wire fraud. The trial will also cast a spotlight on the $750 million RiverBend solar plant in Buffalo, one of the state projects Ciminelli won, and will decide whether bids were rigged in contracts related to construction projects funded by the Buffalo Billion. Paul Shechtman, a Manhattan lawyer, represents Louis Ciminelli



Cambodian police block a street near the Supreme Court during a hearing over the extended pre-trial detention of jailed Cambodia National Rescue Party (CNRP) leader Kem Sokha, in Phnom Penh, May 7, 2018.

Cambodia’s Prince Norodom Ranariddh was seriously injured, and his wife killed, in a car crash; both SUVs involved in the crash had been speeding.

In 1997, he was overthrown as co-prime minister in a bloody coup and since his return to politics, had vowed to work with former rival and long-serving prime minister Hun Sen.

Cambodia’s Supreme Court dissolved the main opposition Cambodia National Rescue Party (CNRP) last year, leaving the way clear for Hun Sen to extend more than three decades of rule in an election on July 29.

Ranariddh’s Funcinpec was allocated most of the CNRP’s parliamentary seats after its dissolution, and its leader, Kem Sokha, was arrested over accusations of plotting to take power with the help of the United States.

The CNRP and Washington have both denied the charges.

“Kem Sokha’s continued detention is related to the upcoming election,” said Kem Sokha’s daughter Kem Monovithya.

“As long as there is no political solution from the top leaders of the current regime, my father’s case will remain as it is. Cambodia will surely plunge into a big crisis if Hun Sen continues to hold the next election without the release of Kem Sokha and the lift of the ban on the CNRP officials ahead of the election,”


From left to right, Kem Sokha, Pol Ham, Mu Sochua, and Eng Chhay Eang at an extraordinary congress in Phnom Penh, March 2, 2017.

[2017-05-16] Kem Sokha said he had given presentations on the upcoming elections to Cambodian communities in 13 U.S. states, as well as to U.S. lawmakers and officials of the Trump administration.

underwoodCitigroup agreed to settle charges related to the manipulation of the London Interbank Offered Rate, better known as Libor.

Citi will pay $100 million to the New York State Attorney General’s office and 41 other states involved with the investigation, New York Attorney General Barbara Underwood said June 15. New York has been leading the Libor investigations due to size of the banking industry and with Wall Street based here.
Several banks have been accused of, and have settled, charges that its traders and bankers manipulated Libor. Global fines have topped $9 billion.   Swiss bank UBS has paid more than $1.5 billion in fines and penalties to U.S. and European authorities for its manipulation of Libor. JPMorgan Chase paid more than $100 million in fines to European authorities for its role in interest rate manipulation, and British bank Barclays has paid more than half a billion dollars in fines and penalties to settle allegations.


Pamela Harris as she leaves Brooklyn Federal court with attorney, Jerry H. Goldfeder, left, in New York

[June 12] Ex-Brooklyn Assemblywoman Pamela Harris pled guilty to pocketing nearly $60,000 in public funds meant for a non-profit and Hurricane Sandy relief. Authorities slapped Harris with a 11-count indictment for fraud in January and she resigned from her post in April, before the trial began.

She pleaded guilty to two counts of wire fraud, one count of making false statements to FEMA and one count of witness tampering to federal authorities.   Pamela Harris is a former Democratic member of the New York State Assembly, representing District 46.



U.S. investigators have accelerated their probe into the 1MDB sovereign wealth fund set up by former Malaysian Prime Minister Najib Razak and are exchanging more evidence with Malaysian authorities since Najib lost last month’s election, While U.S. prosecutors have considered the possibility of charging Najib or his associates, they would prefer Malaysia be the one to file criminal charges against any Malaysian official. Najib’s successor, Prime Minister Mahathir Mohamad, said Malaysia was also seeking to arrest financier Low Taek Jho, a central figure in the scandal who advised on investments and negotiated deals for 1MDB


[May 18    Many Malaysian economic figures are false – new Prime Minister   ]


Najib Razak’s coalition [former Malaysian prime minister] secured only 79 of Malaysia’s 222 parliamentary seats while Anwar Ibrahim’s People’s Justice Party (PKR) won 50 seats. An alliance between the two could have secured Najib’s return to power. “From my discussion with the PM (92-year-old Mahathir Mohamad) this morning, that seems to be the sentiment … we will have to deliver,” he said.

“I have given that message. We don’t want UMNO 2.0.” United Malay National Organisation (UMNO) used race-based politics and patronage system.




In response to a request for a fresh forecast on Malaysia’s economic growth, Malaysian Prime Minister Mahathir Mohamad said on Thursday, May 17, “Regarding the numbers indicating our financial position, I realize many of these figures are false.” Leave aside …some hundred billion of missing ringgit on his watch.
Malaysia’s economy continues to perform strongly, with higher than anticipated growth at 5.8 percent in 2017, and projected growth of 5.3 percent for 2018, according to the IMF.

Malaysia ranks 25th in oil ptoduction; the first quarter of 2018 witnessed the strongest year-over-year increase in global oil demand in seven years.


Police entered the house of Former Malaysian prime minister Najib Razak late on Wednesday, May 16, an extraordinary scene that thousands watched unfold as it was streamed live.
Najib tried to leave the country Saturday, May 12, apparently for Indonesia. The search covered the prime minister’s office and a residence he had used, as well as two apartments owned by his family. The government’s immigration department said they were blacklisted from leaving Malaysia.
Najib may soon face increased government scrutiny over he created a state fund called 1MDB, 1Malaysia Development Berhad. The fund sent hundreds of billions of dollars in Najib’s personal accounts, prompting investigations in the U.S., Switzerland and Singapore. The country’s attorney general tried to issue an arrest warrant for Najib three years ago, the prime minister fired him.

The US Department of Justice (DOJ) alleges that about US$4.5 billion was misappropriated from 1MDB, which was founded by Mr Najib