Adani Group, the Indian company that has caused a furore over plans to lease Kenya’s main airport, is in the news after $310 million was frozen in Switzerland over money laundering allegations. Newly released court documents show that a man who had dealings with five Swiss banks is being investigated by the Swiss Attorney General....
Tag: money laundering
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Adani-Hindenburg saga: Adani rejects Hindenburg claims of $310 million fund freeze in Swiss banks
3 min read Last Updated : Sep 13 2024 | 9:17 AM IST The Adani Group issued a statement late on Thursday refuting claims made by New York-based short-seller Hindenburg Research. Hindenburg Research alleged that Swiss authorities had frozen over $310 million in multiple Swiss bank accounts as part of a money laundering and...
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$310 million linked to Adani Group frozen by Swiss authorities? Hindenburg, conglomerate clash over report
New Delhi: Swiss authorities have frozen USD 311 million (Rs 2,610 crore) held by a Taiwanese resident in multiple Swiss bank accounts as part of money laundering probe, suspecting he may be a frontman from the Adani group — a charge the conglomerate vehemently denied saying it was neither involved in any Swiss court proceedings...
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Swiss authorities freeze $310 mn allegedly linked to front man of Adani group; Adani Group rejects allegations
New Delhi, Swiss authorities have frozen more than USD 310 million in funds across multiple Swiss bank accounts as part of money laundering allegations into Adani Group, US-based short seller Hindenburg Research claimed citing media report – a charge that the conglomerate vehemently denied. Swiss authorities freeze $310 mn allegedly linked to front man of...
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Adani Group denies fresh Hindenburg allegations of freeze on Swiss bank accounts – Times of India
NEW DELHI: Adani Group late Thursday night denied allegations by New York based short-seller Hindenburg Research that Swiss authorities have frozen more than $310 million in funds across half a dozen Swiss bank accounts as part of a money laundering and securities forgery investigation into the group, dating back as early as 2021.Hindenburg made the...
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Adani Group rejects Hindenburg claim of $310 million asset freeze in Swiss banks – Times of India
The Adani Group has denied claims by Hindenburg Research, which stated that Swiss authorities had frozen over $310 million across six Swiss bank accounts as part of an investigation into money laundering and securities forgery allegations involving the conglomerate. Hindenburg cited recently released Swiss Federal Criminal Court records to support its allegations.“We unequivocally reject and...
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Swiss watchdog scrutinises UBS vetting of wealthy Credit Suisse clients, sources say
Switzerland’s financial supervisor has been scrutinising how UBS vets risky wealthy clients that it wants to transfer from Credit Suisse, sources said, as the regulator takes a hands-on approach to the bank’s integration of its fallen rival. Earlier this year, watchdog FINMA reviewed the filters UBS, currently worth $105 billion on the market, applies to...
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Swiss Regulator Says HSBC Violated Money Laundering Regulations
Swiss financial market supervisory authority FINMA has ruled that HSBC Private Bank (Suisse) SA violated money laundering regulations. This ruling followed enforcement proceedings opened by FINMA in December 2021 and focused on the financial institution’s banking relationships with two unnamed politically exposed persons, FINMA said in a Tuesday (June 18) press release. “HSBC Private Bank...
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Panama Papers: From Singapore to Switzerland, which are the top tax havens?
The Panama Papers are back in the news after the public portion of a trial involving more than two dozen associates accused of helping some of the world’s richest people hide their wealth came to an unexpectedly speedy conclusion on Friday. The trial came eight years after 11 million leaked secret financial documents...