How the Danske Bank money-laundering scheme involving $230 billion unraveled

It could be the biggest money-laundering scheme in history, with suspicious money flowing from Russia and former Soviet republics

It involves nearly a quarter of a trillion dollars of very suspicious money from Russia and the former Soviet Union that was funneled into the western banking system right under the noses of major banks and regulators in the United States and Europe, who either facilitated it or turned a blind eye. At the heart of it is a whistleblower, who found one loose thread and decided to pull on it. read more »

Lyft is sued by investors over its initial public offering - court filing

Lawsuit also names Lyft executives and bank underwriters as defendants.

Lawsuit claims Lyft misled investors about its ridesharing position, bicycle safety issues, and labor matters.

Lawsuit filed in San Francisco federal court claims Lyft’s false and misleading statements inflated company’s share price, and that investors lost money when the price fell. read more »

FBI targets Johnson & Johnson, Siemens, GE, Philips in Brazil graft case

The U.S. FBI is investigating corporate giants Johnson & Johnson, Siemens AG, General Electric Co and Philips for allegedly paying kickbacks as part of a scheme involving medical equipment sales in Brazil, two Brazilian investigators have told Reuters.

Brazilian prosecutors suspect the companies channeled illegal payoffs to government officials to secure contracts with public health programs across the South American country over the past two decades. read more »

Uber rang in its IPO with champagne and mimosas. Then the hangover began.

One employee handed in her resignation. A party had to be shut down. Another employee was talked out of driving home.

Uber shut down a party at a satellite California office and at least one employee resigned after some celebrations marking its initial public offering last week got out of hand, according to current and former employees, a setback for the company’s efforts to change its corporate culture.

Those people said that the celebrations, which kicked off with company-provided mimosas on the day of one of the largest public offerings in recent history, made them feel uncomfortable and seemed immature — especially as Uber’s stock price plunged, erasing billions of dollars of value. read more »