1MDB: Ex-Goldman bankers and Jho Low face US charges

Two former Goldman Sachs bankers and Malaysian financier Jho Low have been hit with US criminal charges in connection with one of the world's biggest financial scandals.

The Department of Justice alleges the men participated in a scheme that stole billions of dollars from Malaysia's development fund, 1MDB.

One former Goldman banker pleaded guilty, the department said.

The other banker has been arrested, while Mr Low remains at large. read more »

Goldman Sachs and 1MDB: What We Learned From First U.S. Charges

The U.S. Justice Department’s first charges against individuals related to the pillaging of the Malaysia investment fund known as 1MDB offers several new insights into the global, multibillion-dollar scandal: read more »

Credit Union’s Employees Saw Anti-Money-Laundering Compliance Gaps

Pentagon Federal Credit Union staffers raised concerns about its reporting of suspicious activity, documents show; PenFed called the allegations false.

Employees at one of the largest and fastest-growing credit unions in the U.S. told executives and regulators that it had a flawed program to prevent money laundering, according to people familiar with the matter and internal credit-union documents.

The concerns raised about Pentagon Federal Credit Union in 2016 and 2017 included understaffing, gaps in reporting of potentially suspicious transactions to the government, insufficient monitoring of wire transfers, a lack of anti-money-laundering training for senior leaders and inadequate scrutiny of potentially high-risk customers, according to internal PenFed emails and reports. read more »

What you need to know about the largest Ponzi scheme in Mississippi history

Arthur Lamar Adams was sentenced to almost 20 years in prison Tuesday for operating the largest Ponzi scheme in Mississippi's history.

Now that he has been sentenced, here are some answers to your questions about the case: read more »