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    Kanye West was told in late September, before his fashion week antics and anti-Semitic stream of posts, that he would no longer be welcome to bank with JPMorgan Chase. On Wednesday evening, conservative commentator Candace Owens tweeted out images of a letter sent to Kanye West from the bank advising him he had until November 21 to transfer his accounts elsewhere. No reason was provided for the bank's decision, nor did Owens offer one. However, the insinuation of the tweet's timing is that West was de-banked following several recent controversial episodes, including sending models down his runway during Paris fashion week wearing shirts that read 'White Lives Matter,' in addition to the targeted bullying of a Vogue fashion editor on his Instagram page, and a series of anti-Semitic statements that earned him removal from Instagram and Twitter. Owens made the announcement hours before a bizarre reunion between West and fellow Kim Kardashian ex Ray J (and non-ex Kid Rock) on the red carpet for the DailyWire's latest film - The Greatest Lie Ever Sold: George Floyd and the Rise of...
    Contrary to what Candace Owens has insinuated, JPMorgan ended its banking relationship with Kanye West last month, weeks before the rapper and fashion designer lost access to his social media accounts over an anti-Semitic tweet. On Wednesday, Owens posted a photo of a letter addressed to West from JPMorgan Chase saying that the bank “has decided to end its banking relationship with Yeezy, LLC and its affiliated entities.” The bank gave West until Nov. 21 to move his assets to another bank or receive the remainder of his funds via check. Owens, a conservative commentator who has grown close to the Yeezy founder in recent weeks, claimed that the bank gave no official reason for the severance. However, she appeared to frame JPMorgan’s decision as backlash against West’s recent controversies, including when he vowed to go “death con 3” on Jewish people in a tweet this past weekend, and when he wore a “White Lives Matter” shirt at Paris Fashion Week last week. “I want to say that I do not care what you think about Ye West—but I very...
    More On: kanye west Kanye West, Ray J reunite at Candace Owens’ BLM doc screeninng after anti-Semitic comments Kanye West allegedly told TMZ he ‘loved Hitler and the Nazis’ in 2018 Kim Kardashian and Kanye West only communicate through assistants Kanye West’s new girlfriend, Juliana Nalú, stars in steamy bikini shoot JP Morgan Chase is the latest company to kick Kanye West to the curb amid his anti-Semitic comments. Candace Owens revealed via Twitter on Wednesday that the bank sent him an official letter of termination “with no official reason given.” “I was told there was no official reason given, but they sent this letter as well to confirm that he has until late November to find another place for the Yeezy empire to bank,” the controversial conservative figure tweeted along with a photo of the notice. The letter read, “Dear Ye, We are sending this letter to confirm our recent discussion with [redacted name] that JP Morgan Chase Bank, N.A. (The Bank) has decided to end its...
    THE BODY of a federal informant who reportedly probed Donald Trump's ties to Deutsche Bank has been found at a high school. Valentin Broeksmit's body was found by a cleaning crew member at around 6.40am on Monday. 1Credit: Google Maps He was declared dead less than 30 minutes later, but a cause of death has not yet been released. Police said that they had no video showing him coming onto the campus and do not know how long he was there. Broeksmit was subpoenaed by the House Intelligence Committee during its probe into Trump and the bank. He reportedly offered hundreds of documents to federal investigators and journalists who were looking for ties between the bank and Trump. The 45-year-old was last seen driving a red Mini Cooper on April 6 2021. Despite going missing, his Twitter remained active and friends and journalists claimed to stay in contact with him during his disappearance. Forensic News investigative journalist Scott Stedman said that he last spoke to Broeksmit in January. He explained that Broeksmit had given him "Deutsche Bank documents that...
    PARIS (AP) — Imprisoned Russian opposition leader Alexei Navalny stepped abruptly into France’s tight presidential campaign Wednesday, urging voters to back incumbent Emmanuel Macron and alleging that far-right challenger Marine Le Pen is too closely linked to Russia. Le Pen has faced scrutiny before over a 9 million euro loan that her party received in 2014 from the First Czech-Russian Bank. Questions about Le Pen’s ties to Moscow arose during her presidential bid five years ago that she lost to Macron and they have emerged again amid Russian President Vladimir Putin’s war in Ukraine. She noted she has condemned the Feb. 24 invasion “without ambiguity.” The tweet by Navalny’s team, hours before a final debate between the two candidates, threatened Le Pen’s relatively smooth ride toward Sunday’s runoff against Macron.. At the debate, Macron attacked Le Pen as being dependent on Russia, which he described as “your banker.” Le Pen bristled at the suggestion she is beholden to the Kremlin, saying she was “totally free.” Earlier in the campaign, she had dismissed questions about the loan to...
    People walk by a Wells Fargo bank branch on Oct. 13, 2017 in New York City. It appears Wells Fargo is starting to reap what it sows. New York City announced on April 8 that it is refusing to open new accounts with the financial company after a Bloomberg News study showed that the bank rejected more than half of its Black applicants looking to refinance their homes in 2020. City Council Member Justin Brannan, chair of the committee on finance, called the disparity "indefensible” and “outrageous” in a news release from the mayor's office. "In a world where we already expect big banks to flout the law and make their own rules, Wells Fargo really outdid themselves," he said. "Over the past two years – of all the major mortgage lenders – Wells Fargo was alone in rejecting more Black homeowners than it accepted. These brazen and illegal discriminatory actions have no place in New York City." RELATED STORY: Wells Fargo is back with even more abuse for would-be customer Brannan’s remarks were on par with many of the comments from city officials included in the release....
    The international bank Barclays announced Wednesday that it is freezing former CEO Jes Staley's shares, worth as much as $29 million, pending the outcome of an investigation into his ties with Jeffery Epstein. The Financial Conduct Authority and the Bank of England's Prudential Regulation Authority are investigating the relationship between Staley and Epstein, who died in prison in 2019. Staley left Barclays in 2021 after the bank was told the preliminary conclusions of the FCA and PRA's investigation. Staley's relationship with Epstein goes back to 2000 when he became the head of JPMorgan's investment banking division, with Epstein "already a client" at the bank, Staley said. In December 2015, he became Barclays's CEO and claims he has had no contact with Epstein since then, Barclays told the Washington Examiner. PRINCE ANDREW REACHES SETTLEMENT IN VIRGINIA GIUFFRE LAWSUIT "Obviously, I thought I knew him well, and I didn't," Staley told reporters in February 2020. "And for sure, with hindsight of what we all know now, I deeply regret having had any relationship with Jeffrey Epstein." The...
    In this article CSG.N-CHA Credit Suisse logo in the window of a Credit Suisse Group AG bank branch in Zurich, Switzerland, on Thursday, April 8, 2021.Stefan Wermuth | Bloomberg | Getty ImagesCredit Suisse was scrambling Sunday to contain the fallout from its latest scandal after several newspapers reported that more than 18,000 leaked accounts showed that criminals, alleged human rights abusers and sanctioned individuals including dictators had been clients of the Swiss bank. The leaked information, which covered accounts holding more than $100 billion, came from a whistle-blower who shared his findings with German newspaper Süddeutsche Zeitung, according to a press release. The newspaper then involved an anti-corruption group and 46 other media outlets around the world, including The New York Times, Guardian, Le Monde and others. Clients of the second-biggest Swiss bank included an international cast of unsavory characters, according to the media reports. Account holders included a Yemeni spy chief implicated in torture, Venezuelan officials involved in a corruption scandal, and the sons of former Egyptian dictator Hosni Mubarak. The accounts had been opened from the 1940s into...
    By Nate Raymond | Reuters BOSTON – A Harvard University professor was convicted on Tuesday of U.S. charges that he lied about his ties to a China-run recruitment program in a closely-watched case stemming from a crackdown on Chinese influence within U.S. research. A federal jury in Boston found Charles Lieber, a renowned nanoscientist and the former chairman of Harvard’s chemistry department, guilty of making false statements to authorities, filing false tax returns and failing to report a Chinese bank account. Prosecutors alleged that Lieber, in his quest for a Nobel Prize, in 2011 agreed to become a “strategic scientist” at Wuhan University of Technology in China and through it participated in a Chinese recruitment drive called the Thousand Talents Program. Prosecutors say China uses that program to recruit foreign researchers to share their knowledge with the country. Participation is not a crime, but prosecutors contend Lieber, 62, lied to authorities inquiring about his involvement. Defense lawyer Marc Mukasey had countered that prosecutors had “mangled” evidence, lacked key documents to support their claims and relied too heavily on a “confused”...
    The government of the U.S. Virgin Islands has issued a subpoena to British bank Barclays, probing details of the institution’s links to the late convicted sex offender, Jeffrey Epstein, Friday reports show. The bank received a similar court order in New York in February to which it responded at the time, according to BBC. “Barclays has already provided its response to this [February’s] subpoena and complied with its obligations,” Barclays’ spokesperson said, BBC reported. “The US Virgin Islands is now in the process of serving a similar subpoena on Barclays in the UK and Barclays will respond to that subpoena once it is served.” “Barclays subpoenaed by U.S. Virgin Islands over connections to late sex criminal Jeffrey Epstein A Barclays spokesperson confirmed the British bank was served a subpoena in the U.S. and expects to receive one in the U.K.”https://t.co/aSV0FfiMVv — Amrita Bhinder ???????? (@amritabhinder) November 5, 2021 The bank announced Monday the resignation of CEO Jes Staley after reports of an investigation into the executive’s relationship with Epstein. (RELATED: Judy Woodruff Asked Bill Gates What Lessons He’s Learned...
    Barclays chief executive Jes Staley will resign after reports of an investigation into his relationship with Jeffrey Epstein, the bank announced Monday. Staley will be replaced by C.S. Venkatakrishnan, Barclay’s head of global markets, the bank said in a statement released Monday. The bank said it was made aware of the preliminary conclusion of the investigation by the U.K’s Financial Conduct Authority and the Prudential Regulation Authority on Friday night, according to the company’s statement. Barclays CEO Jes Staley resigns after U.K. investigation into links to Jeffrey Epstein https://t.co/zOulAqObqK — The Washington Post (@washingtonpost) November 1, 2021 The investigation was into “Mr Staley’s characterisation to Barclays of his relationship with late Mr Jeffrey Epstein and the subsequent description of that relationship in Barclays’ response to the FCA,” according to the press release.  The investigation did not find evidence that “Staley saw or was aware of any of Epstein’s alleged crimes.” In a personal memo sent to Barclays employees, Staley claimed the investigation was about “a professional relationship I developed earlier in my career,” The New York Times reported. “I...
    Another high-profile businessman bites the dust over ties to the late sex offender Jeffrey Epstein. This time it’s Jes Staley, CEO of the publicly traded U.K. bank Barclays, which has a market value north of $45 billion. On Monday, the bank announced that Staley, an American, will depart both his role and the corporate board effective immediately, following the “preliminary conclusions” of an investigation by British regulators into how Staley had characterized his relationship with the disgraced financier to Barclays. Staley, 64, planned to contest the findings, the bank said. The company’s board, which had previously backed Staley, announced in a statement that it was “disappointed at this outcome,” arguing that “Mr Staley has run the Barclays Group successfully since December 2015 with real commitment and skill.” The bank added in its statement that “the investigation makes no findings that Mr Staley saw, or was aware of, any of Mr Epstein's alleged crimes, which was the central question underpinning Barclays’ support for Mr Staley following the arrest of Mr Epstein in the summer of 2019.” According to Reuters, which...
    TALLAHASSEE (CBSMiami/NSF) — Florida continues to move closer to ending financial ties with ice-cream giant Ben & Jerry’s and its parent company, Unilever PLC. Ash Williams, executive director and chief investment officer of the State Board of Administration, said Tuesday he anticipates Unilever will be added to what is known as Florida’s list of “Scrutinized Companies that Boycott Israel,” prohibiting state investments and contracts with the companies. READ MORE: Former US Navy Commander, Rep. Paul Renner To Take Reins As Florida House Speaker The potential addition to the list is based on a decision by Ben & Jerry’s to stop selling its products in the West Bank and Gaza in 2022. “We’ve not been not seeing any meaningful response from Unilever, period,” Williams told Gov. Ron DeSantis, Attorney General Ashley Moody and Chief Financial Officer Jimmy Patronis, who serve as the State Board of Administration, which oversees state investments. The state has about $139 million in holdings in Unilever and its subsidiaries. Unilever was advised of the state’s position in July, and a 90-day period will end Oct. 26 for...
    Charlie Javice, Founder/CEO of Frank, which is a college financial aid start-up.Source: JP Morgan JPMorgan Chase has acquired college planning platform Frank to deepen relationships with students and their parents, CNBC has learned exclusively. Frank is an online portal with tools that help students apply for and negotiate financial aid, enroll in online courses and find scholarships. It has served more than five million students at 6,000 institutions since it was launched by Charlie Javice in 2017. JPMorgan, the biggest U.S. bank by assets, has been acquiring start-ups at a steady clip since CEO Jamie Dimon declared last year that he would be "much more aggressive" in searching for takeovers. The firm has acquired a string of fintech players to bolt-on capabilities in sustainable investing, robo-advising and constructing tax-efficient portfolios. But in some ways this deal most resembles another recent acquisition made by JPMorgan, that of restaurant review service The Infatuation. With both transactions, the company is diving deeper into a vertical in the hopes of generating loyalty with a specific cohort. "We really have a desire to have lifelong,...
    A top lawyer with Democratic Party ties pleaded not guilty Friday to charges brought by special counsel John Durham, who accused the Perkins Coie attorney of lying to the FBI about who he was working for when he pushed claims about a secret Trump-Russia backchannel in 2016, with Durham saying he hid that he was doing so for the Clinton campaign. Michael Sussmann, a high-profile D.C. cybersecurity lawyer and DOJ veteran who had previously assisted the DNC related to the Russian cyber theft targeting Democratic emails earlier in 2016, appeared in a courtroom at the U.S. District Court for the District of Columbia late Friday morning. The grand jury indictment against Sussmann centers on a September 2016 meeting between him and then-FBI general counsel James Baker, where Sussmann, who has worked on behalf of Democratic clients numerous times, passed along allegations claiming there was a secret backchannel between Russia’s Alfa Bank and the Trump Organization. While Durham says that Sussmann told Baker he was not working for any specific client, the special counsel contends that Sussmann was actually...
    Former President Donald Trump and his allies have accused former President Barack Obama of illegally using the government's powers of surveillance in order to damage the Trump presidential campaign. Obama officials have repeatedly denied the accusations and said the process played out in accordance with the rule of law. In August, a group of 44 Republican senators demanded that the Durham report be made public once completed. "The truth pursued by this investigation is necessary to ensure transparency in our intelligence agencies and restore faith in our civil liberties. Thus, it is essential that the Special Counsel's ongoing review should be allowed to continue unimpeded and without undue limitations," said the group of senators in the letter to Attorney General Merrick Garland. Durham had previously charged a former FBI lawyer for fabricating evidence against Carter Page, a former Trump campaign official, in the investigation into Russian collusion. Kevin Clinesmith pleaded guilty in August 2020 but received a slap on the wrist for what he said was a mistake made to simply avoid paperwork. Here's more...
    Avishek Das | LightRocket | Getty Images Robinhood, the free-trading app that helped drive a surge in retail investing during the pandemic, has switched to using JPMorgan Chase to handle crucial money transfers into customers' accounts. The start-up emailed customers this week to say that it is now using JPMorgan, the biggest U.S. bank by assets, to process transactions for cash management accounts. It had previously used Ohio-based Sutton Bank, a community lender with 8 branches. "This change is part of a larger effort to make a more consistent and reliable experience, and it will enhance our ability to meet your cash management needs," Robinhood said in the email. The move illustrates the ways in which traditional banks are both a competitor with and an enabler of the new guard of fintech players like Robinhood, which has quickly amassed more than 13 million users drawn to free trades and a slick interface. JPMorgan CEO Jamie Dimon has repeatedly warned shareholders that fintech and Big Tech players are encroaching on his industry's territory. "Many of these new competitors have done a...
    The Democratic chair of the Senate Banking Committee has written to several large banks, including Credit Suisse and Japan’s Nomura, asking them for information on their relationship with New York-based Archegos Capital Management after the fund imploded last month. Sen. Sherrod Brown (D-Ohio) asked the bank’s chiefs to detail how their institutions came to do business with Archegos, a family office run by ex-Tiger Asia manager Bill Hwang. Archegos’ soured leveraged bets on media stocks have left the fund and banks that financed its trades nursing billions of dollars in losses. In addition to Credit Suisse and Nomura, which lost $4.7 billion and $2 billion, respectively, Brown sent the letters to Goldman Sachs and Morgan Stanley which did not lose money on the trades, Reuters and other media outlets have reported. Representatives of banks declined to comment or did not immediately respond to a request for comment. The letters signal that the fallout from the Archegos meltdown is spreading in Washington, where policymakers are already mulling new rules on nonbanks and how traditional banks may be exposed to their risks....
    It’s a seamless divorce: Groupama confirmed, Friday during the presentation of its annual results, its wish to sell its residual 22% stake in Orange Bank. The scheduled end of this capital partnership does not mean the end of the banking activities of the mutual insurer, nor for that matter a break in commercial relations with Orange Bank, insisted on Thierry Martel, CEO of Groupama. In 2016, Groupama sold 65% of the capital of its subsidiary Groupama Banque to Orange in order to create a powerful new player in digital banking, thanks in particular to the strike force of the telecoms operator. The latter had successfully led a diversification into financial services in Africa (Orange Money). The partnership aimed to create a common platform for the French market, with a development, for Orange, in Spain and in Belgium, on the understanding that each kept its trademarks for their distribution networks … Follow La Tribune Let’s share economic information, receive our newsletters
    A third bank is severing financial ties to President Trump in the wake of the deadly Capitol riot he incited last week. Florida-based Professional Bank “has decided not to engage in any further business with the Trump Organization and its affiliates, and will be winding down the relationship,” the company told The Post in a statement, referring to the president’s real estate firm. The decision came after Deutsche Bank and New York-based Signature Bank said they would end their financial relationships with Trump after he encouraged a crowd of supporters to storm the Capitol on Jan. 6. Signature also urged the president to step down for his role in the insurrection that left five people dead including a police officer. Professional Bank gave Trump an $11 million mortgage in 2018 to buy his sister’s Palm Beach, Florida home across the street from his Mar-a-Lago club, according to Bloomberg News, which first reported on the bank’s decision. The loan carries a 4.5 percent interest rate and will mature in 2048, Trump’s 2020 financial disclosure form shows. Trump’s revocable trust also...
    More On: donald trump Jim Jordan slams Dems’ ‘double standards’ at Trump impeachment vote Advocacy group says Biden should revamp US human rights policy Republicans argue Trump impeachment will divide US, Dems say action needed now LAPD officer who attended pro-Trump rally ordered to speak with FBI A third bank is severing financial ties to President Trump in the wake of the deadly Capitol riot he incited last week. Florida-based Professional Bank “has decided not to engage in any further business with the Trump Organization and its affiliates, and will be winding down the relationship,” the company told The Post in a statement, referring to the president’s real estate firm. The decision came after Deutsche Bank and New York-based Signature Bank said they would end their financial relationships with Trump after he encouraged a crowd of supporters to storm the Capitol on Jan. 6. Signature also urged the president to step down for his role in the insurrection that left five people dead including a police officer. Professional Bank gave Trump an $11 million mortgage in 2018 to buy...
    President Donald Trump walks to board Marine One on the South Lawn of the White House, Tuesday, Jan. 12, 2021, in Washington. The President is traveling to Texas. AP Photo/Gerald Herbert Let our journalists help you make sense of the noise: Subscribe to the Mother Jones Daily newsletter and get a recap of news that matters.The Florida-based Professional Bank is cutting ties with Donald Trump and his Trump Organization, Mother Jones has learned. The move comes after other financial institutions announced in recent days that they would no longer do business with the embattled president.  In May 2018, Trump borrowed $11.2 million from Professional Bank, a small bank based in Coral Cables, Florida, that specializes in small-business and construction lending. The money came via a 30-year mortgage and was used to purchase a home from Trump’s sister, Maryanne Barry Trump, adjacent to the president’s Mar-a-Lago resort.  At the time it was an odd move—Trump had borrowed for decades from German financial giant Deutsche Bank and, more recently, from Wall Street lender Ladder Capital. Transferring his business to Professional, which was founded in 2008...
    Donald Trump’s bankers are cutting ties with the president after the insurrection at the Capitol, with one even calling publicly for his resignation. Over the past 24 hours, both Deutsche Bank and Signature Bank have made the decision to end their business relationships with the outgoing president — a potentially massive blow to Trump’s business future as they were among the last banks willing to lend money to Trump and his family for their various businesses. Deutsche Bank’s move to sever its relationship with Trump will send a shiver through Trump and his inner circle. Trump owes the troubled German lender more than $300 million and his primary contact at the bank, Rosemary Vrablic, left Deutsche in late December, leading many to speculate that the bank was preparing to dump Trump. The Deutsche decision was first reported by Bloomberg (paywall), and the bank declined to comment to The Post.   New York-based Signature confirmed to The Post that it has begun the process of closing Trump’s two personal accounts at the $5 billion bank and “will not do business in...
    More On: banks Wall Street clamps down on political donations following Capitol riot Stocks close higher as Wall Street shrugs off ‘very bad day’ in DC China sentences former bank chief to death in corruption case Wall Street readies for more stock froth amid economic pain in 2021 Donald Trump’s bankers are cutting ties with the president after the insurrection at the Capitol, with one even calling publicly for his resignation. Over the past 24 hours, both Deutsche Bank and Signature Bank have made the decision to end their business relationships with the outgoing president — a potentially massive blow to Trump’s business future as they were among the last banks willing to lend money to Trump and his family for their various businesses. Deutsche Bank’s move to sever its relationship with Trump will send a shiver through Trump and his inner circle. Trump owes the troubled German lender more than $300 million and his primary contact at the bank, Rosemary Vrablic, left Deutsche in late December, leading many to speculate that the bank was preparing to dump Trump....
    Deutsche Bank will reportedly do no future business with President Trump or his companies after protesters stormed the Capitol on Wednesday. The bank based in Frankfurt, Germany, is the president’s largest lender, the New York Times first reported, with $340 million in loans outstanding to the Trump Organization. Deutsche Bank and the Trump Organization did not immediately respond to requests for comment. The report comes as another bank where Trump holds checking and money-market accounts called on him to step down. “The resignation of the president ... is in the best interests of our nation and the American people,” Signature Bank said on its website. Trump has received significant condemnation and pushback following the siege of the Capitol, with Twitter and Facebook banning him from their platforms, Democrats launching an impeachment effort, and other organizations cutting ties with him and his administration. Big Tech companies banned the president, which he was known to use on a regular basis, out of fear that he would incite further violence akin to Wednesday’s events. "We believe the...
    Deutsche Bank AG has reportedly decided to cut ties with President Donald Trump as well as his private companies following the unrest at Capitol Hill last week. The German lender has been joined by the New York-based Signature Bank, which also announced that it would be ending its business relationship with the President. Bloomberg News reported on Tuesday that two insiders within Deutsche Bank — who remained anonymous ostensibly due to banking regulations — confirmed that the German banking giant would no longer conduct any further business with President Trump or his company. There will still be some relationship between the bank and the President, however, as he reportedly owes Deutsche Bank some $340 million in outstanding loans. The bank has served as a lender for President Trump since the 1990s and has lent some $2 billion during their business relationship. The day after the events at the Capitol, the head of Deutsche Bank Americas, Christiana Riley wrote on LinkedIn: “Yesterday was a dark day for America and our democracy.” “We are proud of our Constitution and stand by those...
    Deutsche Bank AG is to sever all ties with President Trump and the Trump organization according to a source with knowledge of the sudden business decision. But the bank will still be forced to deal with the Trump family and their employee for some time to come with outstanding loans of more than $300 million yet to be repaid.   The decision by the German bank follows a glut of social media companies and other firms who are suspending links with the president following last week's rally to the Capitol which left five people dead in the mayhem and aftermath.  Two of the banks Donald Trump does business with are pulling away from him. Trump is pictured last week at the 'Save America' rally Deutsche Bank AG will not do any further business with Trump or his company, although Trump still owes the German lender more than $300 million in loans. Pictured the headquarters of Deutsche Bank in Frankfurt, Germany In November, Deutsche Bank said that Trump's longtime banker had resigned.  Rosemary Vrablic, an employee in the private banking...
    BURLINGTON, Iowa (AP) — A racial equity group is urging the city of Burlington to sever ties with a local bank because of an official's racist comment on social media. The Black Leadership Council is outraged that the city is still doing business with Farmers & Merchants Bank & Trust after one of the bank’s vice presidents, Lisa Walsh, used a racist slur against Vice President-elect Kamala Harris in a November Facebook post, the Hawk Eye reports. “Are you going to withdraw the money out of F&M?" the group’s president, the Rev. Rob Brown, asked the City Council this week. “That’s the way you show the Black community ‘We stand with you, and the same way you all are disgusted with the situation, we’re disgusted with it equally.’” F&M Bank & Trust President Charles Walsh issued a statement saying Lisa Walsh has been placed on indefinite administrative leave. He described the post as “racist, sexist and hurtful” and apologized for the “pain and anguish” it caused. He said Lisa Walsh has indicated that she “feels ashamed and remorseful.” Burlington does...
    GENEVA (AP) — The Swiss attorney general’s office said Thursday it has filed an indictment against bank Credit Suisse for allegedly failing to do enough to stop money laundering linked to drug trafficking by a Bulgarian criminal organization that also involved a wrestler who once hauled millions in notes by car to Switzerland. The indictment in the Federal Criminal Court, along with others against a former manager at the Swiss bank and two members of the criminal ring, wraps up a years-long investigation into the alleged wrongdoing that appears mostly to have taken place between 2004 and 2008. The attorney general’s office noted how top-level athletes in Bulgaria, after the fall of communism, “turned towards other sources of income, and numerous wrestlers received approaches from mafia clans.” One such wrestler, who was not identified, aimed to make money by trafficking cocaine and laundering the cash generated from it - using mules to carry tons of cocaine from South America to Europe by air and sea. The proceeds from the drug sales, often in small-denomination notes, entered Swiss bank accounts from...
    Two large credit card companies are reexamining their business relationship with pornography website Pornhub. Investigations at Visa and Mastercard are underway after the New York Times published a report by columnist Nicholas Kristof on Friday that alleged that Pornhub monetizes "child rapes, revenge pornography, spy videos of women showering, racist and misogynist content, and footage of women being asphyxiated in plastic bags." Pornhub, which is owned by MindGeek, a large conglomerate that owns many different porn sites, called the claims “irresponsible and flagrantly untrue." “We are aware of the allegations, and we are actively engaging with the relevant financial institutions to investigate, in addition to engaging directly with the site’s parent company, MindGeek,” Visa told the Associated Press in a statement. Visa added that if the company found Pornhub was in violation of the law or bank policies, the site would be barred from using Visa payments. Mastercard told the Hill it would take "immediate action" if it found the allegations are substantiated and has “zero tolerance for illegal activity on our network.” “We are investigating the allegations...
    COPENHAGEN, Denmark (AP) — The deputy governor of Norway’s central bank is stepping down with immediate effect after he was not granted a new security clearance because he has ties to China via his wife. The move comes at at time when several Western governments are tightening security controls against potential influence from China, particularly in technology, finance and other corporate sectors. “The Norwegian Civil Security Clearance Authority informs me that the reason that I will not receive a renewed security clearance is that my wife is a Chinese citizen and resides in China, where I support her financially,” Jon Nicolaisen said in a statement on Friday. It was unclear if Nicolaisen's wife has any ties to the Chinese government or other interests. The Norges Bank governor, Oeystein Olsen, said they had taken note of the decision and that Nicolaisen had ”performed his duties superbly as a close colleague and competent professional.” Nicolaisen was appointed in 2014 and reappointed April 1, 2020, when he was given special responsibility for managing the world's largest sovereign wealth fund, worth $1.2 trillion sovereign...
    COPENHAGEN, Denmark (AP) — The deputy governor of Norway’s central bank is stepping down with immediate effect after he was not granted a new security clearance because he has ties to China via his wife. The move comes at at time when several Western governments are tightening security controls against potential influence from China, particularly in technology, finance and other corporate sectors. “The Norwegian Civil Security Clearance Authority informs me that the reason that I will not receive a renewed security clearance is that my wife is a Chinese citizen and resides in China, where I support her financially,” Jon Nicolaisen said in a statement on Friday. It was unclear if Nicolaisen’s wife has any ties to the Chinese government or other interests. The Norges Bank governor, Oeystein Olsen, said they had taken note of the decision and that Nicolaisen had ”performed his duties superbly as a close colleague and competent professional.” Nicolaisen was appointed in 2014 and reappointed April 1, 2020, when he was given special responsibility for managing the world’s largest sovereign wealth fund, worth $1.2 trillion sovereign...
    RAMALLAH, West Bank (AP) — A senior Palestinian official said Tuesday the Palestinian Authority would restore ties with Israel after it cut all contacts in May over Israel’s planned annexation of up to a third of the occupied West Bank. The move to restore ties likely reflects the Palestinians’ hopes that the election of former Vice President Joe Biden spells the end of the Trump administration’s Mideast policies, which overwhelmingly favored Israel. Hussein al-Sheikh, a senior Palestinian official and close aide to President Mahmoud Abbas, tweeted that “the relationship with Israel will return to how it was” following “official written and oral letters we received” confirming Israel’s commitment to past agreements. Abbas announced in May that the Palestinians would no longer be bound by any past agreements signed with Israel and suspend all coordination with it, including cooperation on security matters. The move came as Israel was preparing to annex up to a third of the West Bank, including all of its far-flung settlements, as part of Trump’s plan to resolve the decades-old conflict. Annexation was put on hold in...
    JERUSALEM (AP) — A delegation of Israeli settlers is visiting Dubai, where they met with Emirati business people to discuss commercial opportunities following the United Arab Emirates’ establishment of formal ties with Israel earlier this year. The visit angered the Palestinians, who view Israeli settlements as a major obstacle to peace and a violation of international law. The Palestinians rejected the normalization agreement as a betrayal of their cause because the UAE broke with a longstanding Arab consensus that recognition of Israel should only be granted in return for territorial concessions. The delegation was led by Yossi Dagan, the head of the Samaria Regional Council, which represents settlements in the northern West Bank. They arrived on Sunday and planned to remain in the Emirates until Thursday. A council statement released Tuesday said the delegation held “marathon business meetings” with around 20 individuals and companies working in agriculture, pest control and plastics. “The business people heard from them about the unique needs of the region and discussed with them cooperation, particularly in the fields of agronomy and water desalination,” it...
    Donald Trump could face some major financial troubles after the presidential election, with a new report claiming that Deutsche Bank AG is planning to cut ties with the president and could ultimately seize some of his company’s assets to pay off the hundreds of millions of dollars owed. As Reuters reported, the lender is looking to end its relationship with Trump after the election in order to get away from the controversies and bad coverage it has received due to its financial connections to him. As The Inquisitr reported, the institution has been connected to allegations of tax fraud against Trump, with reports suggesting that they are likely in possession of information that could show whether the Trump Organization had falsified business records or committed tax fraud. He is reportedly facing investigation in New York on these allegations. The report noted that the institution has close to $340 million in outstanding debt to the Trump Organization, with three of the loans against the company’s properties coming due in the next two years. Deutsche Bank has reportedly loaned the organization more...
    By Matt Scuffham, Tom Sims, John O’Donnell | Reuters NEW YORK/FRANKFURT – Deutsche Bank AG is looking for ways to end its relationship with President Donald Trump after the U.S. elections, as it tires of the negative publicity stemming from the ties, according to three senior bank officials with direct knowledge of the matter. Deutsche Bank has about $340 million in loans outstanding to the Trump Organization, the president’s umbrella group that is currently overseen by his two sons, according to filings made by Trump to the U.S. Office of Government Ethics in July and a senior source within the bank. The three loans, which are against Trump properties and start coming due in two years, are current on payments and personally guaranteed by the president, according to two bank officials. In meetings in recent months, a Deutsche Bank management committee that oversees reputational and other risks for the lender in the Americas region has discussed ways in which it could rid the bank of these last vestiges of the relationship, two of the three bank officials said. The bank...
    Geoffrey Berman  The extraordinary Friday night standoff between former U.S. Attorney Geoffrey Berman and Attorney General Bill Barr last June led many to wonder whether the Southern District of New York’s then-top prosecutor’s cases upset the powerful in Washington. The New York Times provided the backstory in a deeply sourced investigation on Thursday, a report amplifying alarm about President Donald Trump’s relationship with Turkey’s authoritarian ruler Recep Tayyip Erdoğan. Interviewing more than two dozen top U.S. and Turkish officials, the report focused on Berman’s refusal to give soft treatment to Turkey’s state-run Halkbank, which perpetrated a massive money laundering scheme that federal prosecutors call the biggest Iran sanctions-bust ever prosecuted. According to the story, Barr pressured Berman to drop charges against Turkish officials tied to Erdoğan’s ruling Justice and Development Party during a meeting in Washington in June 2019. Among the cases Barr pushed to terminate were those of Halkbank’s former general manager, Suleyman Aslan, and Turkey’s former economy minister, Mehmet Zafer Çağlayan, both of whom have been accused of accepting massive bribes in connection with the country’s corruption scandal. “This is...
    RAMALLAH, West Bank (Reuters) - Palestinian President Mahmoud Abbas met with World Jewish Congress President Ronald Lauder in the West Bank on Saturday, a Palestinian minister said in a Twitter posting. Civil Affairs Minister Hussein al-Sheikh gave no further details. Lauder, a U.S. businessman, attended the Sept. 15 White House signing ceremony of an agreement between Israel and the United Arab Emirates and Bahrain to forge formal ties. He told Saudi newspaper Arab News on Sept. 16 that he hoped the accord would bring the Palestinians back to peace talks with Israel, which collapsed in 2014. The Palestinians have cut off diplomatic ties with the Trump administration, which they have long accused of pro-Israel bias, and spurned the Gulf states' diplomatic moves toward Israel. A Palestinian official told Reuters on condition of anonymity that Lauder was not carrying a message from the White House. (Reporting by Ali Sawafta; Writing by Maayan Lubell; editing by John Stonestreet) Copyright 2020 Thomson Reuters.
    By Ali Sawafta and Nidal al-Mughrabi RAMALLAH, West Bank/GAZA (Reuters) - Palestine has quit its current chairmanship of Arab League meetings, the Palestinian foreign minister said on Tuesday, condemning as dishonourable any Arab agreement to establish formal ties with Israel. Palestinians see the accords which the United Arab Emirates and Bahrain signed with Israel in Washington a week ago as betrayal of their cause and a blow to their quest for an independent state in Israeli-occupied territory. Earlier this month, the Palestinians failed to persuade the Arab League to condemn nations breaking ranks and normalising relations with Israel. Palestine was supposed to chair Arab League meetings for the next six months, but Foreign Minister Riyad al-Maliki told a news conference in the West Bank city of Ramallah that it no longer wanted the position. "Palestine has decided to concede its right to chair the League's council (of foreign ministers) at its current session. There is no honour in seeing Arabs rush towards normalisation during its presidency,” Maliki said. In his remarks, he did not specifically name the UAE and Bahrain,...
    The German newspaper Der Spiegel published a report this weekend claiming that the ship suspected of bringing 2,750 tons of ammonium nitrate to the Port of Beirut in 2013 had ties to a bank involved in laundering money for Hezbollah, the Iran-backed terrorist organization and Lebanese political party. Authorities believed the ship in question, MV Rhosus, belonged to a Russian businessman named Igor Grechuskhin who declared bankruptcy not long after coast guard officials in Lebanon impounded the ship for mechanical violations and transferred its dangerous cargo of chemical fertilizer to a warehouse, where it remained until it exploded in early August, killing over 120 people and damaging half the city. Der Spiegel, in cooperation with the Organized Crime and Corruption Reporting Project (OCCRP), argued the true owner of the Rhosus was not Grechuskhin but a Cypriot businessman named Charalambos Manoli. Manoli appears to have taken some pains to conceal ownership, but he admitted to OCCRP that while Grechuskhin offered to buy the Rhosus from him, the deal never actually went through. In Der Spiegel’s telling, Grechushkin chartered the ship for the ill-fated shipment of...
    BEIJING (Reuters) - Lufax, one of China's largest online wealth management platforms backed by Ping An Insurance Group , said its unit has formed an alliance with Kasikornbank to set up an online wealth management platform in Thailand. The platform, to be jointly operated by both parties and used for retail investors in Thailand, will help Lufax to expand its footprint in the region, according to company statement sent to Reuters via email on Tuesday. Lufax said its unit in Singapore, Lu International, now serves over 380,000 registered customers in several markets in Asia. (Reporting by Cheng Leng, Zhang Yan and Ryan Woo; Editing by Muralikumar Anantharaman) Copyright 2020 Thomson Reuters.
    VIDEO0:5300:53Trump announces peace deal between Israel and UAESquawk Alley President Donald Trump on Thursday announced that the United Arab Emirates and Israel agreed to establish normal diplomatic relations in a development that will put on pause Israel's efforts to annex parts of the West Bank claimed by Palestinians.  The president released a joint statement from the two countries and the United States on Twitter announcing the move. Leaders of the three countries spoke earlier in the day, according to the statement.  The news comes amid years of warming ties between the UAE and Israel, which until now have not have official diplomatic or trade relations. The UAE, as with many Arab countries, has had an economic boycott against Israel since its founding and does not formally recognize it. But cooperation between the two on issues like security and the increasing frequency of unofficial meetings by leaders, often aided by Washington, have been widely reported for some time. The deal makes the UAE the first Gulf state to normalize ties with Israel and only the third Arab country, after Egypt and...
    Rutgers University/Getty New Jersey Federal Judge Esther Salas, L, was recently assigned to a case linked to financier Jeffrey Epstein, R. New Jersey Federal Judge Esther Salas, whose son and husband were shot on July 19 in their home, was recently assigned to a case linked to the late financier Jeffrey Epstein. Bloomberg reported on July 16 that Deutsche Bank AG is accused of misleading investors “about anti-money-laundering deficiencies” as well as failing to “properly monitor” customers that are “high-risk,” including Epstein. In August 2019, Epstein died by “apparent suicide” in his Manhattan Metropolitan Correctional Center cell, according to Business Insider. The New York-based financier was arrested earlier that year on “suspicion of sex trafficking underage girls in the early 2000s,” the outlet continued. The Deutsche Bank civil case was filed on July 15 and assigned to Salas the following day, Global News Wire added. Global News Wire indicated that the lawsuit was filed on behalf anyone who purchased the bank’s securities between November 7, 2017 and July 6, 2020. The suit claims the bank did not inform...
    Deutsche Bank has been hit with a $150m (£120m) fine for failing to properly monitor its relationship with convicted sex offender Jeffrey Epstein. New York state regulators said the bank had suffered "significant compliance failures", processing hundreds of transactions for the late financier. Those included payments to Russian models and $800,000 in "suspicious" cash withdrawals. Deutsche said it "deeply" regretted its relationship with Epstein. It said it had spent almost $1bn to improve its training and controls and expand its anti-financial crime team to more than 1,500 people. "We acknowledge our error of onboarding Epstein in 2013 and the weaknesses in our processes, and have learnt from our mistakes and shortcomings," the bank said in a statement. "Our reputation is our most valuable asset and we deeply regret our association with Epstein." New York's Department of Financial Services said the bank, which worked with Epstein from 2013 to 2018, helped him transfer millions of dollars, including more than $7m to resolve legal issues and more than $2.6m in payments to women, covering tuition, rent and other payments, among other transactions....
    New York regulators slapped Deutsche Bank with $150 million in penalties over its relationship with pedophile financier Jeffrey Epstein, officials said Tuesday. The bank agreed to pay in a settlement with the state’s Department of Financial Services, which found it failed to probe transactions that should have raised red flags about Epstein’s sex-trafficking activity — including payments to his alleged accomplices, officials said. “Despite knowing Mr. Epstein’s terrible criminal history, the bank inexcusably failed to detect or prevent millions of dollars of suspicious transactions,” DFS Superintendent Linda Lacewell said in a statement. Deutsche Bank let those transactions go through even though it had plenty of information about the convicted sex offender’s criminal past, regulators said. Epstein pleaded guilty to Florida prostitution charges in 2008 before the feds accused him of sex trafficking last year. He killed himself in a Manhattan jail last August. State regulators also found “procedural failures, mistakes, and sloppiness” in how Deutsche Bank oversaw Epstein’s accounts, officials said. For instance, bank officials placed restrictions on the accounts that were not communicated to staffers handling them and were...
    New York regulators slapped Deutsche Bank with $150 million in penalties over its relationship with pedophile financier Jeffrey Epstein, officials said Tuesday. The bank agreed to pay in a settlement with the state’s Department of Financial Services, which found it failed to probe transactions that should have raised red flags about Epstein’s sex-trafficking activity — including payments to his alleged accomplices, officials said. “Despite knowing Mr. Epstein’s terrible criminal history, the bank inexcusably failed to detect or prevent millions of dollars of suspicious transactions,” DFS Superintendent Linda Lacewell said in a statement. Deutsche Bank let those transactions go through even though it had plenty of information about the convicted sex offender’s criminal past, regulators said. Epstein pleaded guilty to Florida prostitution charges in 2008 before the feds accused him of sex trafficking last year. He killed himself in a Manhattan jail last August. State regulators also found “procedural failures, mistakes, and sloppiness” in how Deutsche Bank oversaw Epstein’s accounts, officials said. For instance, bank officials placed restrictions on the accounts that were not communicated to staffers handling them and were...
    The long and murky relationship between Jeffrey Epstein and Deutsche Bank has caught the attention of New York regulators. Months of investigation by the New York’s financial watchdog agency, the Department of Financial Services, may spur a punishment of the German lender for its decision to keep the famous sex criminal as a client years after his first conviction, according to a report. Epstein maintained dozens of accounts at Deutsche Bank up until last summer and borrowed money from the bank after pleading guilty to paying underage girls for sex in 2009. The DFS probe is focused on why Deutsche allowed employees to acquire Epstein as a client after rival bank JPMorgan Chase dumped him as a client in 2013, according to the New York Times, which first reported the news. An enforcement action could come as soon as this month, and would be focused on the bank’s failure to comply with state regulations and its own policies and procedures, sources told Reuters on Tuesday. Deutsche Bank and the Department of Financial Services didn’t immediately respond to requests for comment....
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