DIRS.INFO The most relevant business & tech news

☆ Ex-Goldman banker sentenced to 10 years prison in 1MDB corruption case
▼ + stars: | 2023-03-09 | by ( ) edition.cnn.com time to read: +3 min

Former Prime Minister Najib Razak is serving a 12-year prison sentence after being convicted by a Malaysian court of receiving $10 million from a former 1MDB unit. He spent six months in a Malaysian prison before waiving his right to contest extradition to the United States in 2018. He pleaded guilty and testified against Ng as part of a cooperation agreement. Malaysian officials have said Low is in China, which Beijing denies. In October 2020, Goldman agreed to pay $2.9 billion and its Malaysian unit pleaded guilty to a corruption charge.

☆ Former Fox exec convicted in FIFA bribery case, other acquitted
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +2 min

Jurors found Hernan Lopez guilty but acquitted Carlos Martinez on the same charges. Martinez and Lopez denied wrongdoing. A lawyer for Burzaco denied those claims. Lawyers for Martinez and Lopez denied Burzaco's account and said their clients were unaware of his scheme. Prosecutors said Burzaco’s testimony was “devastating” and alleged that emails showed him discussing the bribes with Martinez and Lopez in coded terms.

The case stems from a sweeping probe of corruption in international soccer and its world governing body, FIFA. The government’s case hinges largely on the testimony of Argentine businessman Alejandro Burzaco, who has pleaded guilty to bribing soccer officials but has yet to be sentenced. Burzaco told jurors that Martinez and Lopez were aware of and approved the scheme, which he said they discussed during multiple meetings. Lawyers for Martinez and Lopez told jurors during closing arguments on Friday that their clients were unaware of Burzaco’s scheme. Prosecutors said Burzaco’s testimony was “devastating” and alleged that emails showed him discussing the bribes with Martinez and Lopez in coded terms.

☆ Ex-Goldman banker Ng deserves 15 years in prison, US prosecutors say
▼ + stars: | 2023-03-04 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +2 min

In his own sentencing request on Feb. 25, Ng asked that he be given no prison time and be allowed to return to Malaysia. He had spent six months in a Malaysian prison before waiving his right to contest extradition to the United States in 2018. Prosecutors said $4.5 billion of that sum was embezzled by officials, bankers and their associates, in one of the biggest scandals in Wall Street history. In October 2020, Goldman agreed to pay $2.9 billion and its Malaysian unit pleaded guilty to a corruption charge. Leissner pleaded guilty and testified against Ng as part of a cooperation agreement.

☆ Ex-Goldman banker Roger Ng deserves 15 years in prison after 1MDB scandal, U.S. prosecutors say
▼ + stars: | 2023-03-04 | by ( ) www.cnbc.com time to read: +1 min

Roger Ng, a former banker for Goldman Sachs Group, exits from federal court in New York, U.S. on May 6, 2019. In his own sentencing request on Feb. 25, Ng asked that he be given no prison time and be allowed to return to Malaysia. U.S. prosecutors on Friday urged a judge to sentence former Goldman Sachs banker Roger Ng to 15 years in prison after he was convicted of helping loot billions of dollars from Malaysia's 1MDB sovereign wealth fund. In October 2020, Goldman agreed to pay $2.9 billion and its Malaysian unit pleaded guilty to a corruption charge. Leissner pleaded guilty and testified against Ng as part of a cooperation agreement.

March 3 (Reuters) - Lawyers for two former 21st Century Fox executives accused of bribing South American soccer officials assailed the credibility of the government’s star witness on Friday, as their seven-week trial draws to a close. Cooperating witness Alejandro Burzaco testified that his former business partners knew about and approved the bribes. The case is part of a sweeping corruption probe of global soccer and its governing body, FIFA. Full Play Group SA, a co-defendant in the case, is also accused of bribing soccer officials. The Argentina-based sports marketing company’s lawyers have argued bribery is an entrenched part of doing business in South America and therefore not fraudulent activity.

[1/8] Carlos Watson, CEO of Ozy Media, departs U.S. Federal Court in Brooklyn after being arrested and charged with fraud in New York City, New York, U.S., February 23, 2023. REUTERS/David Dee DelgadoFeb 23 (Reuters) - Ozy Media and its CEO Carlos Watson have been criminally charged for scheming to defraud investors of tens of millions dollars by misrepresenting the company’s debts, financial performance and audience size, Brooklyn federal prosecutors said Thursday. Watson and Ozy Media are charged with securities fraud and wire fraud. Rao, who was initially charged under a pseudonym, pleaded guilty on Tuesday to securities fraud conspiracy, wire fraud conspiracy and identity theft. The U.S. Securities and Exchange Commission separately filed a civil case against Ozy, Watson and Rao on Thursday.

☆ Colombian Drug Kingpin Pleads Guilty to Smuggling Cocaine Into U.S.
▼ + stars: | 2023-01-26 | by ( James Fanelli | ) www.wsj.com time to read: 1 min

A Colombian drug kingpin who was once one of the country’s most wanted fugitives pleaded guilty Wednesday in a Brooklyn federal court to overseeing the smuggling of more than 100 tons of cocaine into Central America and the U.S.Dairo Antonio Úsuga David was extradited to the U.S. last year after the Justice Department accused him of being the former leader of the Gulf Clan, one of the largest and most powerful cocaine-trafficking organizations in Colombia. Mr. Úsuga David, who is also known by the alias Otoniel, was arrested in Colombia in 2021 after years on the run. The U.S. had placed a $5 million bounty on his capture.

☆ Mexico’s Former Top Cop Goes on Trial in New York for Alleged Aid to Drug Cartel
▼ + stars: | 2023-01-23 | by ( James Fanelli | José De Córdoba | ) www.wsj.com time to read: 1 min

Mexico’s former top law-enforcement official is set to go on trial Monday in a Brooklyn federal court, accused of helping one of the world’s most powerful drug cartels smuggle over 50 tons of cocaine into the U.S. in exchange for tens of millions of dollars in bribes. Genaro García Luna , 54, headed Mexico’s federal investigation agency and served as the country’s minister for public security from 2006 to 2012 under then-president Felipe Calderón .

☆ Former top FBI counterintelligence agent Charles McGonigal charged with violating Russia sanctions
▼ + stars: | 2023-01-23 | by ( Dan Mangan | ) www.cnbc.com time to read: +9 min

That other person later became an FBI source in a criminal probe of foreign political lobbying, which McGonigal was supervising, authorities said. The former top FBI agent in New York for counterintelligence was arrested with an ex-Russian diplomat and charged with violating U.S. sanctions on Russia after he left the FBI by trying to help the oligarch Oleg Deripaska get off the sanctions list, federal prosecutors said Monday. McGonigal and Shestakov, 69, who also was arrested Saturday evening, are due to appear in court in Manhattan later Monday. McGonigal previously had investigated Deripaska, who made his fortune in Russia's aluminum industry, while at the FBI. McGonigal agreed to help, and told an FBI supervisor who worked for him that he wanted to recruit the Deripaska employee, the indictment says.

☆ Former Fox execs conspired to bribe FIFA officials, prosecution witness says
▼ + stars: | 2023-01-18 | by ( Jack Queen | ) www.reuters.com time to read: +2 min

(Reuters) - An Argentine businessman testified on Wednesday that two former 21st Century Fox executives and a sports marketing company conspired with him to bribe South American soccer officials and secure lucrative broadcasting rights. FILE PHOTO: Businessman Alejandro Burzaco (R) of Argentina arrives at the Federal Court in Brooklyn, New York, September 18, 2015. Burzaco said that he, Lopez and Martinez collectively paid up to $32 million in bribes together. Full Play Group paid or committed to pay up to $90 million, he said. Lopez, Martinez and Full Play Group have pleaded not guilty to crimes including wire fraud and money laundering.

☆ Former Fox execs' FIFA case about 'corruption of international soccer,' prosecutor says
▼ + stars: | 2023-01-17 | by ( Jack Queen | ) www.reuters.com time to read: +2 min

The charges are part of a long-running corruption probe surrounding FIFA, the world governing body for soccer. "This case is about the corruption of international soccer," prosecutor Victor Zapana told jurors in opening statements, saying the alleged scheme funneled money that could have gone towards building stadiums and developing youth and women's leagues into the pockets of corrupt officials. An attorney for Full Play Group said the allegedly illicit payments were "expected, asked for and even demanded" by South American soccer officials. An attorney for Lopez told jurors his client was not aware of the bribes and immediately reported them to Fox upon learning of them. The charges are part of a sprawling FIFA corruption probe unveiled in May 2015.

☆ Former Executives of Fox Subsidiary Face Trial in FIFA Bribery Case
▼ + stars: | 2023-01-15 | by ( James Fanelli | ) www.wsj.com time to read: 1 min

The World Cup closing ceremony before the final match between Argentina and France last month in Qatar. Two former executives of a 21st Century Fox subsidiary are set to go on trial beginning this week on charges that they bribed FIFA officials to secure broadcasting rights to soccer matches, the latest in a string of U.S. prosecutions alleging wide-ranging corruption in the sport’s international governing body. Hernan Lopez and Carlos Martinez , defendants in a Brooklyn federal court, are accused of working with others to make millions of dollars in illicit payments and kickbacks between 2000 and 2015 to South American soccer officials in exchange for the broadcasting rights to the region’s most popular club tournament, the Copa Libertadores, and other matches.

☆ New York Subway Shooter Frank James Pleads Guilty to Terrorist Attack
▼ + stars: | 2023-01-04 | by ( James Fanelli | ) www.wsj.com time to read: 1 min

A sketch shows Frank James at a plea hearing, at which he said he opened fire to cause serious bodily harm. New York City subway shooting defendant Frank James pleaded guilty Tuesday in a Brooklyn federal court to terrorism and gun charges, telling a judge that he opened fire on a crowded train to cause serious bodily harm to passengers. Mr. James, 63 years old, pleaded guilty to 11 counts, including committing a terrorist attack against a mass-transit system and discharging a firearm. He told U.S. District Judge William Kuntz that on the morning of April 12, he boarded a subway train in Brooklyn and later fired a pistol at passengers. While he intended to injure people, he didn’t want to kill anyone, Mr. James said.

☆ Accused Brooklyn Subway Shooter to Plead Guilty to Terrorism Charges
▼ + stars: | 2022-12-22 | by ( Joseph Pisani | ) www.wsj.com time to read: 1 min

Frank James , the man accused of shooting 10 passengers in a New York City subway earlier this year, plans to plead guilty to terrorism charges, his lawyers said in a court filing. Lawyers for Mr. James said in a letter Wednesday to a Brooklyn federal court that he would plead guilty to the 11-count indictment. He was charged with 10 counts of committing a terrorist attack on a mass transportation system, one count for each person shot. Mr. James was also charged with one count of discharging a firearm.

The man accused of one of the most violent rampages on New York City's public transportation system in years is expected to plead guilty to terrorism charges in the Brooklyn subway shooting, authorities said. Frank James' lawyer filed paperwork Wednesday indicating he would enter a guilty plea in the April 12 attack, and a hearing has been scheduled for Jan. 3. Ten people were shot and 13 others were injured in the gunfire and smoke bomb attack on a Brooklyn subway, which shook the city and set off a 30-hour manhunt before James was arrested in Manhattan. “The defendant committed a premeditated mass shooting on the New York City subway system and then fled the scene, with a stockpile of ammunition and other dangerous items stowed in his storage unit,” the federal prosecutors wrote. James pleaded not guilty in Brooklyn federal court the same month.

The appeals court had given Trump until Thursday to appeal to the full 11th Circuit or the U.S. Supreme Court and try to get a stay before the order took effect. After the FBI executed its Mar-a-Lago search warrant, a top Trump adviser familiar with his legal strategy told NBC News that the former president would probably “appeal everything to the Supreme Court. It also barred the special master from reviewing those documents, a decision that Trump appealed to the Supreme Court in October and lost. Under federal law, official White House papers are federal property and must be handed over to the National Archives when a president leaves office. The most recent defeat came last month, when the court allowed Trump's tax returns to be disclosed to a Democratic-led House committee.

☆ Sam Bankman-Fried ‘Wasn’t Even Trying’ to Manage Risk at FTX, He Says
▼ + stars: | 2022-12-01 | by ( Richard Vanderford | ) www.wsj.com time to read: +5 min

“I wasn’t even trying, like, I wasn’t spending any time or effort trying to manage risk on FTX,” Mr. Bankman-Fried said in an interview with George Stephanopoulos of ABC News that was broadcast Thursday on “Good Morning America.”“I don’t know what to say,” he said. A lawyer for Mr. Bankman-Fried didn’t respond to a request for comment. Risk issues weren’t seen as a “core business driver” at FTX, Mr. Bankman-Fried said in Thursday’s interview, adding that he did a “pretty incomplete job” at oversight. Mr. Stephanopoulos questioned Mr. Bankman-Fried about speculation that he might ultimately spend time in prison in connection with the problems at FTX and Alameda. Mr. Bankman-Fried said that a lot of things worry him right now, but that he would let regulatory and legal processes play out.

[1/2] Ex-Goldman Sachs banker Roger Ng exits the Brooklyn Federal Courthouse (EDNY) after being found guilty for his part helping embezzle from Malaysia's 1MDB sovereign wealth fund, in Brooklyn, New York, U.S., April 8, 2022. REUTERS/Brendan McDermid/File PhotoNEW YORK, Nov 11 (Reuters) - Roger Ng, the former Goldman Sachs (GS.N) banker convicted for helping loot Malaysia's 1MDB sovereign wealth fund, on Friday sued the government's star witness Tim Leissner for more than $130 million, alleging fraud. A federal jury in Brooklyn convicted Ng in April of conspiring to violate an anti-bribery law and commit money laundering. Jho Low, a Malaysian financier and suspected mastermind of the looting, was also indicted in Brooklyn and remains at large. Reporting by Jonathan Stempel in New York; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

☆ Trump ally Barrack traded access for UAE money, prosecutors say as trial nears end
▼ + stars: | 2022-11-01 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +3 min

[1/2] Thomas Barrack, a billionaire friend of Donald Trump who chaired the former president's inaugural fund, exits the Brooklyn Federal Courthouse in Brooklyn, New York, U.S., October 3, 2022. Abu Dhabi then invested $374 million from its sovereign wealth funds with Barrack, prosecutors say. "Mr. Barrack traded his political access for a long-term relationship with top UAE officials ... who controlled vast oil wealth," Ryan Harris, an assistant U.S. attorney, told jurors on Tuesday. Barrack himself took the stand last week, testifying that he never agreed to act at Abu Dhabi's direction or control. Reporting by Luc Cohen in New York; Editing by Noeleen Walder and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

After he received the request, Barrack said, he turned to employees at his private equity fund, Colony Capital, to draft Trump's remarks. Prosecutors allege that in doing so, Barrack was trying to cash in on his ties to Trump while acting as an unregistered foreign agent for the UAE. Barrack testified that one of the points of the energy comments was to reassure foreign governments after a blistering speech Trump had given about foreign policy, in which he bashed China and Middle Eastern countries. Barrack testified that he, indeed, ran the draft speech by his UAE contacts and wound up incorporating some of their suggestions. But Trump and his campaign essentially threw out that version of the speech, Barrack said, in favor of one he considered "imbecilic."

☆ Trump ally Barrack can be questioned on Khashoggi comments, Saudi nuclear plans
▼ + stars: | 2022-10-26 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +4 min

While Barrack is not charged with acting as a Saudi agent, the country and the UAE are close allies. Cogan also said he would let prosecutors ask Barrack about a plan he pushed in the early days of the Trump administration to construct 40 nuclear plants in Saudi Arabia and elsewhere in the Middle East. Barrack is not charged with any crimes over the civil nuclear plan, which fell through. One of prosecutors' major charges is that Emirati officials provided input to Barrack on what Trump should say in the speech. Reporting by Luc Cohen in New York; editing by Jonathan Oatis and David GregorioOur Standards: The Thomson Reuters Trust Principles.

Barrack, 75, is charged with acting as an unregistered foreign agent and lying to the FBI. Prosecutors said UAE officials also pressed Barrack for details on who Trump would pick for various high-level jobs, including CIA director and at the State and Defense departments. Barrack's lawyers have said their client is his own man and was doing what he thought was right — not acting as an Emirati agent. Even viewed in the light most favorable to the government, the evidence shows only that the 'UAE' sometimes asked Mr. Barrack to do something, or to consider doing something, and Mr. Barrack then decided for himself whether he would do it or not." He said that Barrack had pushed him to convince then-President Trump to support Qatar in a blockade over the UAE.

☆ Former Treasury Secretary Steven Mnuchin Testifies in Defense of Trump Ally
▼ + stars: | 2022-10-21 | by ( James Fanelli | ) www.wsj.com time to read: 1 min

Former Treasury Secretary Steven Mnuchin testified Thursday in support of a Donald Trump ally on trial for alleged illegal lobbying on behalf of the United Arab Emirates, telling jurors that defendant Thomas Barrack at one point pushed a policy stance contrary to the interests of the small Gulf state. Mr. Mnuchin, who was treasury secretary during President Trump’s term in office, appeared in a Brooklyn federal court as a defense witness for Mr. Barrack, former chairman of investment firm Colony Capital Inc. who served as an informal adviser to Mr. Trump’s campaign. Federal prosecutors allege Mr. Barrack secretly worked to steer Mr. Trump’s presidential campaign and administration toward policies that U.A.E. officials favored.

Lafarge, which became part of Swiss-listed Holcim (HOLN.S) in 2015, agreed to pay $778 million in forfeiture and fines as part of the plea agreement. "Lafarge made a deal with the devil," Breon Peace, the top federal prosecutor in Brooklyn, told reporters following the guilty plea. At that point, Islamic State took possession of the remaining cement and sold it for the equivalent of $3.21 million, prosecutors said. REUTERS/Charles PlatiauHolcim said that former Lafarge executives involved in the conduct concealed it from Holcim, as well as from external auditors. No Lafarge executives were charged in the United States.

Search resuls for: "Brooklyn Federal"

25 mentions found