01 Jan 2015/Thisday The Central Bank of Nigeria (CBN) has revoked the operating licences of 21 Primary Mortgage Banks (PMBS) as well as one microfinance bank and directed the Nigeria Deposit Insurance Corporation (NDIC) to commence the process of orderly winding up of the affairs of the affected institutions. The […]
Frauds & Scandals
BofA Fired Hong Kong Banker to Avoid Paying Bonus, Judge Rules
Dec 25, 2014/Bloomberg Bank of America Corp. maliciously fired a distressed-debt banker to deprive her of a bonus, a Hong Kong judge ruled, awarding Sunny Tadjudin $500,000 after a seven-year legal battle. Tadjudin’s manager, John Liptak, was determined to fire her despite her improvement in a performance plan, and his […]
MF Global Holdings to pay $100 mln fine in CFTC settlement
Wed Dec 24, 2014/Reuters The U.S. Commodity Futures Trading Commission said on Wednesday it had fined MF Global Holdings Ltd for wrongdoing during the collapse of the futures brokerage, but will continue its lawsuit against the firm’s former chief, Jon Corzine. A federal judge in Manhattan approved a settlement in […]
