JPMorgan Chase & Co (JPM.N) and federal authorities are nearing settlements over the bank’s relationship with convicted Ponzi schemer Bernard Madoff, striking tentative deals that would involve about $2 billion in penalties and a rare criminal action, the New York Times reported. The settlements would fault the bank for […]
Frauds & Scandals
Nigeria’s NNPC hasn’t accounted for $50 bln in oil sales – cbank
* Oil revenue accounts for 80 pct of gov’t revenues * Probes have found state-oil firm to lack transparency * Nigeria is Africa’s 2nd largest economy, top oil producer Nigeria’s state-energy company NNPC hasn’t accounted for nearly $50 billion in revenue from the sale of crude oil which should have […]
Ex-Goldman Sachs banker jailed in UK in Nigerian corruption case
* Former banker Preko jailed for 4-1/2 years * Convicted of laundering ex-governor Ibori’s money * Offences committed after Preko left Goldman Sachs Former Goldman Sachs banker Elias Preko was sentenced to 4-1/2 years in prison by a London court on Monday for laundering $5 million on behalf of […]
