WeWork: New York attorney general investigating founder's possible self-dealing

THE GUARDIAN

The New York State attorney general is investigating WeWork, according to two people familiar with the matter, adding to a mounting series of problems that have turned the workspace provider from a Wall Street darling to a pariah in a matter of weeks.

Among the issues the NYAG is examining is whether WeWork’s founder and former chief executive, Adam Neumann, indulged in self-dealing to enrich himself. read more »

Ex-CEO of Brazil's Braskem arrested on U.S. corruption charges

REUTERS

The former chief executive of Brazilian petrochemical company Braskem SA was arrested on Wednesday in New York on charges that he took part in a scheme to pay millions of dollars in bribes to officials to secure government contracts.

Jose Carlos Grubisich was charged with conspiracy to violate a U.S. foreign corruption law and with a money laundering conspiracy in a newly unsealed indictment in federal court in Brooklyn. read more »

Rethinking McKinsey - Disrupting the management priesthood

THE ECONOMIST

When businessmen talk to partners of McKinsey, the high priests of management consultancy, it is like Catholics going to confession. They reveal all. They expect confidentiality. And whether or not it changes behaviour, the act itself is good for the soul. In this era of corporate unease, over everything from the next recession to climate change, executives are lining up at the confessional. But McKinsey, too, has some soul-searching to do. Its industry, estimated to be worth $300bn, is, like those of its clients, being transformed. And as its most revered—and hermetic—standard bearer, it is under more scrutiny than ever before. read more »

Ex-Och-Ziff Manager Sentenced to 3 Months in Bribery Case

YAHOO FINANCE

The former European head of Och-Ziff Capital Management Group was sentenced to three months behind bars for his role in a bribery scandal involving more than $100 million that was paid to government officials across Africa.

Michael L. Cohen, an American living in London who was once a rising star at Och-Ziff, was sentenced Tuesday by U.S. District Judge Nicholas Garaufis in Brooklyn, New York. 

Ex-JPMorgan trader found guilty in U.S. currency-rigging trial

REUTERS

A former foreign exchange trader at JPMorgan Chase & Co was found guilty Wednesday of conspiring to rig trades for his own benefit.

Akshay Aiyer was convicted of one count of conspiracy by a jury in federal court in Manhattan, court records show. He is scheduled to be sentenced on April 3. read more »

Westpac bank 'breached anti-money laundering laws'

BBC

Australia's financial crime watchdog has accused Westpac bank of 23 million breaches of anti-money laundering and counter-terrorism financing laws.

The Australian Transaction Reports and Analysis Centre (Austrac) said each breach carries a maximum a penalty of A$21m ($7.5m; £11m). read more »