News

Swiss regulators are investigating Julius Baer's alleged failure to report suspicious transactions by an unidentified former Argentinian client suspected of depositing more than $50 million he embezzled from his own firm into personal accounts at the private lender, Reuters reported, citing Neue Zuercher Zeitung. More Federal prosecutors moved to dismiss the conviction of Ali Sadr Hashemi Nejad, the Iranian founder of shuttered Maltese lender Pilatus Bank, on charges of money laundering and sanction evasion, and may face disciplinary action after a judge accused them of withholding evidence, The Wall Street Journal and the Guardian reported. More and More Maltese authorities...