Category: Fraud

Gotham City revelations spark outcry in Angola

The revelation of the sequestration of 900 million dollars belonging to businessman Carlos Manuel de São Vicente by the Office of the Attorney General of Geneva embarrasses the government of President João Lourenço. The Angolan authorities have still not answered questions from the Public Prosecutor’s Office of Geneva about the case. Under pressure from the …

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Angolan funds: the Office of the Attorney General of Geneva blocks $900 million

The Office of the Attorney General of Geneva has indicted an influential businessman close to Angolan political circles, Carlos Manuel de São Vicente, for money laundering. Nearly $900 million are frozen since December 2018 in a bank account belonging to this economist by training, the head of an insurance empire in Angola, the AAA group. …

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Accused in Switzerland, Geneva manager is released in Spain in Gürtel case

Arturo Fasana, one of the directors of Rhône Gestion, is under investigation in Geneva for his involvement in the concealment in Switzerland of funds of former King Juan Carlos. In Spain, the manager has just been released from charges against him in another case. On his company’s site, Arturo Fasana is displayed with a serene …

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Olive oil moguls convicted of fraud had hidden Swiss accounts

The sauce has turned. Jesús and Jaime Salazar, the former directors of Spanish olive oil giant SOS Cuétara, embezzled more than 200 million euros and caused the bankruptcy of their company. However, two months after the scandal broke in 2009, they were still able to invest their profits in several Swiss banks. Bertolli, Carapelli, Carbonell… …

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Jean-Claude Bastos settlement sees Quantum return two billion to Angola

Quantum Global companies are required to return two billion dollars to the sovereign fund of Angola, the FSDEA, in return for the Angolan authorities dropping charges against its CEO, Swiss-Angolan businessman Jean-Claude Bastos. The figure is mentioned in a dismissal order issued by the Office of the Attorney General of Switzerland on June 27 and …

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Credit Suisse under investigation by attorney general’s office over Bulgarian ‘Cocaine King’ accounts

Credit Suisse has been under criminal investigation since 2013 as part of a money laundering probe by the Office of the Attorney General of Switzerland connected to the Bulgarian “Cocaine King” Evelin Banev, Gotham City has learned. The involvement of the country’s second-largest bank is revealed in Swiss and Italian court documents. Opened on February 1, …

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Swiss financial regulator begins belated clean-up of Zug’s crypto valley

The Swiss financial regulator, FINMA, has blacklisted several companies active in the cryptocurrency sector. Among them are Zug-based Global Trade Solutions AG, suspected by the United States authorities of having played a key role in the disappearance of 850 million dollars in the Bitfinex case. The Swiss measure was imposed more than a month after the scandal broke. FINMA …

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Criminal investigation into founder of Swiss cryptocurrency Giracoin to remain closed

At the end of 2016, the State Secretariat for Economic Affairs (SECO) filed a fraud complaint against one of the founders of Giracoin, the newly launched cryptocurrency which was attracting positive media coverage. The Public Prosecutor’s Office of Nidwalden closed the investigation one year later, a decision just confirmed by the Federal Supreme Court. Launched in 2016 at the height …

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Swiss courts rule in favour of Vladimir Gusinsky in Russian TV rights case

Four years have passed since the Russian tax authorities requested legal assistance from Switzerland regarding a company controlled by the Russian media magnate Vladimir Gusinsky. The Federal Supreme Court had just ended the matter with its answer – nyet. Switzerland will not respond to the questions sent by Russia’s Federal Tax Service about Zug-based New Century Distribution GmbH. The Federal Supreme Court upheld …

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Geneva trading company Bunge SA settles a 2.5 million internal fraud case

A former employee of Bunge SA trading company and two accomplices managed to siphon off 2.5 million francs of company money in a sophisticated fraud before being caught. The three men have since reached an agreement with Bunge to return the money, while the Public Prosecutor’s Office of Geneva opted for a suspended fine. The affair has ended rather …

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