While cocaine production ravages countries in Central America, consumers in the US and Europe are helping developed economies grow rich from the profits, a study claims
Kevin Downing, 46, who has led agency criminal probes of the Swiss banking industry, and earlier of banks and accounting firms, is leaving to join a law firm, the source said.
Ex-UBS employees, including former Managing Director Sachin Karpe, are accused of unauthorised transactions on 39 client accounts, of which 21 reported substantial losses.
Despite François Hollande’s pledge to carry out a sweeping reform of wealth tax in France in 2012, to return to the old wealth tax scale, in force prior to the 2011 reform, no modifications will reportedly be made to the existing tax rates th
A StanChart spokeswoman said Ms Wu Yidian Eden, a naturalised Singapore citizen, has been released from custody. The bank is not being investigated and Ms Wu remains an employee.
Zeltner said UBS had assets under management of over 300 billion francs in Europe, over 170 billion francs in Asia, around 110 billion francs in emerging markets and 130 billion in Switzerland.
The Financial Times reported that the SFO had relied heavily upon Grant Thornton for information it used to build its case against Vincent Tchengui and his brother Robert, while the accounting firm was acting as administrator for Kaupthing.