Security firm G4S PLC has agreed to pay £44.4 million ($56.1 million) to settle a long-running investigation by Britain's Serious Fraud Office over allegations its prisons subsidiary overcharged the U.K. government for electronic tagging of offenders, the anti-fraud agency said Friday.
New York's move to penalize Deutsche Bank AG for what state officials said were lapses in the bank's relationship with convicted sex offender Jeffrey Epstein is a wake-up call for how financial institutions and their compliance departments should approach high-risk clients, experts told Law360.
A Singapore-based holding company has blamed Cerberus Capital Management for interfering in its "long-standing relationship" with Hamburg Commercial Bank AG in a $54 million High Court dispute over the loan agreement for a ship.
General Electric slammed HM Revenue & Customs in court on Friday over plans to rescind tax breaks after executives allegedly misled HMRC during negotiations connected to a multibillion-dollar loan, saying the agency's reversal is a "complete and utter" misunderstanding of U.K. tax law.
An insurance trade body said on Friday that the sector has made efforts to improve its behavior after a pricing scandal that costs consumers £1.2 billion ($1.5 billion) a year, ahead of a potential crackdown by the Financial Conduct Authority.
The Financial Conduct Authority has set out rules for British payment processing companies to follow as it seeks to safeguard consumers' money, days after placing restrictions on the British operations of Wirecard it fell into insolvency in Germany.
Credit Suisse has argued that an investor's $100 million fraud suit misrepresented the facts of its settlement with the U.S. Department of Justice over the sale of mortgage-backed securities, saying it had not admitted to dishonest misconduct in the deal.
Britain's tax collector alleged Thursday that General Electric made fraudulent tax submissions seeking tax relief for overseas investments, telling a London judge that the company never disclosed the final destination of a multibillion-dollar loan.
YouTube and other online platforms only have to provide the postal address — but not the email, phone number or IP address — of users who illegally upload movies without the copyright holder's consent, the European Union's highest court ruled Thursday.
A lawyer for a private equity company suing Barclays for fraud accused the bank's former head of Middle East investment on Thursday of losing "any real sense" of events during the lender's drive to raise capital in 2008 and constructing false recollections as he gave evidence at trial.
Consumers who bought Volkswagen cars in Europe can sue the automaker in their domestic courts over an emissions cheating scandal that has already cost VW billions, the bloc's top court ruled Thursday.