July 24, 2023/US Federal Reserve The Federal Reserve Board on Monday announced a consent order and a $268.5 million fine with UBS Group AG, of Zurich, Switzerland, for misconduct by Credit Suisse, which UBS subsequently acquired in June 2023. The misconduct involved Credit Suisse’s unsafe and unsound counterparty credit risk […]
Frauds & Scandals
SEC Charges North Carolina Resident for Conducting Fraudulent and Unregistered Offerings of Crypto Asset Securities
July 21, 2023/US SEC The Securities and Exchange Commission today charged Alexander Elbanna and three entities that he owned and controlled with engaging in a fraudulent scheme involving unregistered offers and sales of crypto asset securities called “DWE” and “BPC.” The SEC also charged Elbanna and one of his entities […]
Ecobank Says Honeywell’s N72.2bn Judgement Claim is an Exercise in Futility
July 21, 2023/Ecobank Nigeria Ecobank Nigeria Limited has lodged an appeal against the ruling of the Federal High Court, Lagos, delivered by Hon. Justice M. Liman, in the N72bn lawsuit brought against the bank by Honeywell Flour Mills Plc. A spokesperson for Ecobank asserted that the judgement claim is an […]
