Administrators for a collapsed Lithuanian lender are pursuing at least two cases against Swiss and Austrian banks for failing to stop its former chairman, Russian financier Vladimir Antonov, from misappropriating nearly €500 million, according to a bankruptcy report published Friday.
Sen. Ben Cardin and other lawmakers will seek to extend the soon-to-expire Iran Sanctions Act for another 10 years, Swiss officials have frozen approximately $80 million of assets linked to 14 FIFA officials, and more, in the midweek roundup.
U.S. tax authorities and a Senate investigatory team are looking into reports that the Cayman Islands branch of Bank Julius Baer helped American accountholders hide taxable revenue, according to the former chief of the bank's Caribbean operations.
Former Bank COO Rudolph Elmer, who has been sued by Julius Baer for allegedly leaking hundreds of the bank's documents suggesting a systemic laxity toward tax evasion and money laundering, said the Swiss laws allow institutions to hide their criminal support for white collar criminals.
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