Crypto lender Nexo seeks $3 billion in damages from Bulgaria over aborted investigation
By Elizabeth Howcroft and Kirstin Ridley LONDON (Reuters) – Cryptocurrency lender Nexo is seeking $3 billion in damages from Bulgaria over an aborted criminal investigation that the company alleges scuppered its plans…
Celsius co-founder and strategy head Leon resigns from bankrupt crypto lender
(Reuters) – Celsius Network’s co-founder and chief strategy officer Daniel Leon has stepped down, the bankrupt crypto lender said on Tuesday, joining a wave of executive departures from beleaguered digital asset companies.…
U.S. Supreme Court to hear Turkish lender Halkbank’s bid to avoid charges
By Nate Raymond WASHINGTON (Reuters) – The U.S. Supreme Court on Monday agreed to hear Turkish state-owned lender Halkbank’s bid to avoid criminal charges of money laundering, bank fraud and conspiracy for…
Crypto lender Celsius not seeking payments for outstanding loans
(Reuters) – Bankrupt crypto lender Celsius Network said on Friday it is not seeking to enforce payment obligations for outstanding loans during its Chapter 11 proceedings and that borrowers do not need…
First-ever False Claims Act settlement received from Paycheck Protection Program lender
HOUSTON – Prosperity Bank has agreed to pay $18,673.50 to resolve allegations it improperly processed a Paycheck Protection Program (PPP) loan on behalf of an ineligible customer, announced U.S. Attorney Jennifer B.…
Former Owner and Executive at Long Island Mortgage Lender Sentenced to 24 Months’ Imprisonment for $8.9 Million Fraud
Earlier today, at the federal courthouse in Central Islip, Edward E. Bohm, formerly the President of Sales and part-owner of mortgage lender Vanguard Funding, LLC (Vanguard), based in Garden City, New York…
Crypto lender Hodlnaut granted creditor protection by Singapore Court
(Reuters) – Hodlnaut said on Tuesday it has been placed under interim judicial management by the Singapore High Court, after the troubled cryptocurrency lender suspended withdrawals earlier this month. Judicial management allows…
Celsius crypto lender, now bankrupt, sues ex-money manager over alleged theft
By Jonathan Stempel NEW YORK (Reuters) – Celsius Network LLC on Tuesday sued a former investment manager, accusing him of losing or stealing tens of millions of dollars in assets before the…
Crypto lender Voyager Digital gets approval to return $270 million to customers – WSJ
(Reuters) – The U.S. Bankruptcy Court in New York has given crypto firm Voyager Digital Holdings Inc the approval to return $270 million in customer cash, the Wall Street Journal reported on…
Singapore lender UOB posts 11% rise in Q2 net profit
SINGAPORE – Singapore’s smallest listed lender, United Overseas Bank (UOB), reported a rise of 11% in second-quarter profit, supported by a strong improvement in net interest income amid increasing interest rates. “This…
CEO of Reality TV Production Companies Sentenced to One Year in Federal Prison for Defrauding Private Lender Out of $2 Million
LOS ANGELES – The CEO of two Hollywood production companies that specialize in reality-television programming was sentenced today to 12 months and one day in federal prison for fraudulently obtaining a…
Windsor Resident Admits Defrauding Employer and its Lender of More Than $700K
Vanessa Roberts Avery, United States Attorney for the District of Connecticut, and David Sundberg, Special Agent in Charge of the New Haven Division of the Federal Bureau of Investigation, announced that MARGARET…
Crypto lender Celsius defends bitcoin mining plans as bankruptcy kicks off
By Dietrich Knauth (Reuters) – Cryptocurrency lender Celsius Network said bitcoin mining is key to the company’s restructuring efforts at a U.S. bankruptcy court hearing on Monday in Manhattan. New Jersey-based Celsius…
California Mortgage Lender Agrees to Pay More Than $1 Million to Resolve Fraud Allegations
Spokane, Washington – Vanessa R. Waldref, the United States Attorney for the Eastern District of Washington, announced today that American Financial Network, Inc., a mortgage lender based in Brea, California, has agreed…
How crypto lender Celsius stumbled on risky bank-like investments
By Hannah Lang, Carolina Mandl and Elizabeth Howcroft (Reuters) – Celsius Network, the retail crypto lending platform whose liquidity problems have sent cryptocurrencies plunging, stumbled on complex investments in the wholesale digital…
Former Augusta man sentenced to prison for multi-million-dollar scheme to defraud a mortgage lender
AUGUSTA, GA: A former Richmond County man has been sentenced to federal prison for bank and bankruptcy fraud related to his purchase of an Augusta apartment complex. Jerome Walter Kiggundu, 38, now…
Crypto lender Babel Finance valued at $2 billion after latest fundraising
(Reuters) – Hong Kong-based Babel Finance said on Wednesday it had raised $80 million in a new funding round that valued the cryptocurrency lender and asset manager at $2 billion. Investors who…
Sberbank CFO among latest senior resignations at sanctioned Russian lender
(Reuters) – Three board members of Russia’s Sberbank have left their posts, the bank said on Tuesday, the latest in a flurry of senior departures from the state-owned lender since Moscow sent…
Another Sberbank executive leaves the sanctioned Russian lender
(Reuters) – Russia’s dominant lender Sberbank said on Monday one of its senior vice presidents had left, the latest executive to resign since Moscow sent troops into Ukraine in February. Andrey Shemetov,…
Russian deputy PM hints at struggles facing top lender Sberbank
(Reuters) – Russia’s top lender Sberbank is still trying to fund property developers in spite of “difficulties and losses” that the sanctioned bank is experiencing, Deputy Prime Minister Marat Khusnullin said on…
Australian lender Westpac fined A$113 million for multiple compliance breaches
(Reuters) – An Australian court ordered Westpac Banking Corp to pay A$113 million ($82.92 million) in penalties for multiple compliance failures across its businesses, after hearing the last of the six cases…
CEO Of Payment Protection Program Lender MBE Capital Arrested In Connection With Fraudulent Loan And Lender Applications
Damian Williams, the United States Attorney for the Southern District of New York, Thomas Fattorusso, Special Agent-in-Charge of the New York Field Office of the Internal Revenue Service, Criminal Investigation (“IRS-CI”), Amaleka…
Greek lender Piraeus Bank’s Ukraine operations only 0.2% of assets
ATHENS – Piraeus Bank, one of Greece’s four largest lenders, said on Friday its operations in Ukraine comprise a financial institution, JSC Piraeus Bank ICB, and investments in real estate assets. Together…
Russian lender TCS picks payments firm BPC for Philippines expansion
MOSCOW -TCS Group Holding, which runs Russia’s largest online bank, Tinkoff, will partner with payment solutions provider BPC in the Philippines as it pushes ahead with expansion into Asian markets, the two…
Banco BPM focused on growing as a standalone lender, CEO says
PARMA, Italy – Banco BPM is focused on growth opportunities as a standalone lender, the head of Italy’s third-largest bank said on Saturday, a day after renewed speculation that larger rival UniCredit…
Augusta man convicted of multi-million-dollar scheme to defraud a mortgage lender
AUGUSTA, GA: An Augusta man has been convicted of fraud by a federal jury who found he committed fraud when he borrowed nearly $3 million to refinance an Augusta apartment complex, and…
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