Tag: AML

Regulatory Watch News

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  South Florida Residents Convicted of Attempting to Illegally Export Controlled Items to Libya

  US Department of Justice

  October 23, 2021

  A federal jury convicted a pair of Florida residents yesterday for their roles in an illegal exports scheme. According to court documents and evidence presented at trial, Peter Sotis, 57, of Delray Beach, and Emilie Voissem, 45, of Sunrise, participated in a scheme to cause the illegal export of rebreather diving equipment to Libya in August 2016.

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  CBI REGISTERS A CASE AGAINST DIRECTORS OF PRIVATE COMPANY & OTHERS ON THE ALLEGATIONS OF BANK FRAUD AND CONDUCTS SEARCHES

  Central Bureau of Investigation

  October 22, 2021

  The Central Bureau of Investigation has registered a case against two Directors of Indore based private company; the said private company based at Indore and unknown public servants on a complaint from Bank of Baroda, Indore. It was alleged that borrower company had committed fraud during the period of 2014 to 2017 in conspiracy with its directors & unknown public servants and cheated Bank of Baroda to the tune of Rs. 29.41 crore (approx.). It was further alleged that the said private company based at Indore was advanced the working capital loan and term loan amounting to Rs. 36 crore by Bank of Baroda on 13.09.2014 after taking over credit facilities extended by IDBI Bank. The said loan account became NPA on 02.05.2017 and was subsequently reported as fraud to RBI. The outstanding loan amount was Rs. 29.41 crore. It was also alleged that the forensic accounting had revealed siphoning of funds and diversion of funds by the said private company.

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  OCC Enforcement Actions and Terminations

  OCC

  October 21, 2021

  WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released new enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations. All Cease and Desist Orders, Civil Money Penalty Orders, and Removal/Prohibition Orders are issued with the consent of the parties, unless otherwise indicated.