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PwC blamed by Aoyin for failed banking licence attempt – 22 July 2018
Chinese lender Aoyin claimed it wasted $5 million trying to establish a locally incorporated bank in Australia due to flawed advice from PwC. The claims include failing to act with reasonable care and skill, breaching its retainer and engaging in misleading and deceptive conduct.
Tricks from the master’: How a Sydney trader landed in the centre of US fraud bust – 21 July 2018
Jim Zhao, a 31-year-old man was arrested for a US operation that has spanned four continents, netted 11 individuals and implicated at least four of the world’s biggest banks in a seven-year conspiracy to manipulate commodities markets in Chicago. He is one of eight men, accused of spoofing – the practice of placing fake orders and quickly cancelling them, in order to artificially raise or lower prices, then capitalising on it by concurrently placing genuine orders to buy or sell.
Goldman’s role in 1MDB scandal linked to former banker’s plea deal – 20 July 2018
Tim Leissner, who is married to fashion designer Kimora Lee Simmons, arranged bond offerings that netted rich fees for Goldman Sachs. US prosecutors are reviewing whether the bank turned a blind eye to the plunder of Malaysian investment fund 1MDB,
Huge SMSF property scam about to crash – 18 July 2018
A property racket might be behind the decision by Westpac and other big banks to stop lending to self-managed superannuation funds (SMSFs) Article talks about how the scam worked and banks intention to abandon related lending activity.
https://www.macrobusiness.com.au/2018/07/gottiboff-huge-smsf-property-scam-crash/
