Credit Suisse Resolves Fraudulent Mozambique Loan Case in $547 Million Coordinated Global Resolution
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New York - Credit Suisse Group AG, a global financial institution headquartered in Switzerland, and Credit Suisse Securities (Europe) Limited (CSSEL), its subsidiary in the United Kingdom (together, Credit Suisse), have admitted to defrauding U.S. and international investors in the financing of an $850 million loan for a tuna fishing project in Mozambique, and have been assessed more than $547 million in penalties, fines, and disgorgement as part of coordinated resolutions with criminal and civil authorities in the United States and the United Kingdom. After taking account of crediting by the department of the other resolutions, Credit Suisse will pay approximately $475 million to authorities in the United States and the United Kingdom, as well as restitution to victims in an amount to be determined by the court.
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Washington, DC - The U.S. Department of Justice and the U.S. Department of Labor Tuesday announced separate settlement agreements with Facebook regarding its use of the permanent labor certification program (PERM). The Justice Department’s settlement resolves its claims that Facebook routinely refused to recruit, consider or hire U.S. workers, a group that includes U.S. citizens, U.S. nationals, asylees, refugees and lawful permanent residents, for positions it had reserved for temporary visa holders in connection with the PERM process. Additionally, the Labor Department’s settlement resolves issues it separately identified through audit examinations of Facebook’s recruitment activities related to its PERM applications filed with the Employment and Training Administration’s Office of Foreign Labor Certification (OFLC).
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Washington, DC - The chief executive officer (CEO) of Multinational Logistics Services (MLS), a large ship husbanding company that has received over $1 billion in U.S. Navy contracts since 2010, appeared in the United States today to face a criminal charge for his alleged participation in a bribery scheme.
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CNew York - An Illinois man pleaded guilty Monday to attempting to provide material support to designated foreign terrorist organizations, the Islamic State of Iraq and al-Sham (ISIS) and Al-Nusra Front (ANF). As part of his plea agreement, the defendant agrees to the entry of an order of removal so he will be removed from the country after completing his sentence.
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Houston, Texas - A federal jury convicted a Houston-area physician for unlawfully prescribing more than 1.3 million doses of opioids.
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Washington, DC - Two former employees of G4S Secure Solutions NV (G4S NV), pleaded guilty today to criminal antitrust charges stemming from their involvement in a conspiracy to rig bids, fix prices, and allocate customers for defense-related security services contracts. Both defendants are Belgian nationals residing in Belgium.
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