Midweek Roundup: Former ICBC Staff in Spain Settles Money Laundering Charges, Swiss Investigate UBS, and More

Four former employees of Industrial and Commercial Bank of China's branch in Madrid agreed to short prison terms and a combined €22.7 million in fines to settle charges they helped Chinese crime syndicates launder hundreds of millions of euros, Reuters reported. More Swiss regulators are investigating UBS for allegedly failing to report a $65 million payment to a globally blacklisted Yemeni official, Gotham City reported. More Police in Cape Verde arrested Colombian businessman Alex Saab on U.S. charges that he helped Venezuelan officials launder vast sums of money, Gulf News reported. More An Australian judge gave financial regulators two additional...