The U.S. Treasury Department is challenging a federal judge's recommendation to drop civil charges against a former attorney accused of helping a Miami bank hide over $20 million in losses. Attorney's at the Office of the Comptroller of the Currency (OCC) filed exceptions September 19 addressed to Comptroller John Dugan to continue its case against Carlos Loumiet, whom the agency says is linked to the 2002 collapse of Hamilton Bank. Administrative Law Judge Ann Cook stated in a recommendation to Dugan Loumiet didn't act recklessly in reviewing suspect transactions. In a 48-page filing of exceptions, OCC attorneys stated Loumiet was...
Deloitte Financial Advisory Services must pay New York $10 million and refrain from consulting additional state-regulated banks for one year after improperly sharing client data with Standard Chartered.
The U.S. Treasury must pay hundreds of thousands of dollars in legal fees to an attorney it accused of covering up a fraud that led to the failure of a Miami bank, a U.S. appellate court ruled Tuesday.
A Miami lawyer at odds with the U.S. Treasury Department for alleged bank fraud and his law firm are balking at a request to produce documents tied to the investigation of financier Robert Allen Stanford.
A financial regulator should drop its case against attorney Carlos Loumiet, who it accused of covering up the fraud that led to the dissolution of a Miami bank, an administrative law judge said Tuesday.
Banking attorneys are closely watching the trial of Miami lawyer Carlos Loumiet for allegedly helping to hide a massive bank fraud, a case they say could disrupt the independent review process often used to vet anti-fraud and anti-money laundering controls.
Auditors that don't have experience with Bank Secrecy Act rules and regulations can make costly oversights and errors that may lead to enforcement actions or painful demands from examiners down the road, compliance professionals say.