Paris court rules in favour of Cyprus in FBME case (updated)
The Paris-based arbitration court of the International Chamber of Commerce on Tuesday ruled in favour of the Republic of Cyprus in an appeal filed against
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Documents link Klyuev to FBME accounts of Altem and Zibar (Updated)
Dmitry Klyuev, the sanctioned Russian bank owner considered by the US as the mastermind of a tax fraud uncovered by Sergei Magnitsky, had indeed banked
Klyuev, Pavlov not among bank’s customers, FBME owners say
By Stelios Orphanides The former owners of FBME Bank, the Tanzanian lender branded by US authorities as a financial institution of primary money laundering concern, said
Japanese company, FBME hit by multi-million fraud lawsuit
A legal storm is brewing around several entities and individuals, based in various jurisdictions around the world, implicated in an alleged massive money-laundering case also
Curtain falls for FBME as court denies request for rehearing
A US appeals court rejected the application of the owners of Tanzania’s FBME Bank for a rehearing of their rejected appeal on Tuesday. “Upon consideration
FBME reinstate Cayman holding company, request rehearing
The owners of the Tanzania-based FBME Bank filed a petition at a US court requesting a fresh hearing of an appeal, which was rejected because the
US court rejects appeal as FBME was and is “a legal nullity”
A US appellant court ordered the dismissal of an appeal by FBME Ltd, the holding company of Tanzania’s FBME Bank Ltd, against an April court
Thai money laundering probe touches Cyprus
By Stelios Orphanides Thailand’s Securities and Exchange Commission (SEC) said that it notified Thai anti-money laundering bureau after filing a criminal complaint with Department of
Appeal against FBME US ban runs out of appellants
By Stelios Orphanides A US court denied an emergency joint motion filed by the lawyer of the dissolved Cayman Islands-based FBME Ltd on Thursday to
Bank of Tanzania instructs FBME Bank to withdraw from appeal against FinCEN
Tanzania’s FBME Bank Ltd, the lender US authorities banned from accessing the US financial system, has withdrawn from a joint appeal against the decision citing
FBME officer tasked to spot crooks had forged Harvard degree
By Stelios Orphanides FBME Bank, which effectively went out of business when the US branded it a financial institution of primarily money laundering concern, assigned
Report links FBME to Somali pirates as MEPs arrive on Panama Papers mission
A Hong Kong-based news website on Thursday made new allegations about illicit funds laundered by the Cyprus Branch of FBME Bank, just a day before
Judge recused from Tanzanian liquidator’s application case (Update 2)
(Rephrases first and second paragraph) Nicosia District Court judge Ioannis Ioannides decided to recuse himself from examining the application of Bank of Tanzania
FBME: Assad’s WMD front company implicated in Magnitsky case
A report drafted by the accounting firm Ernst & Young (EY) on FBME Bank (Cyprus) in 2014 appears to implicate Balec Ventures Inc, a front company linked
FBME ignored red flags linking shell companies to Assad’s WMD programme
By Stelios Orphanides The Cyprus branch of Tanzania’s FBME Bank Ltd may have assisted the Syrian regime in financing and developing its chemical weapons programme
Court of appeal sets June 26 deadline for cross appeal by FBME, depositors
The owners of FBME Bank Ltd as well as its depositors have a June 26 deadline to challenge by cross-appeal, certain parts of proceedings at
Bank of Tanzania appoints Saab lawyers to represent liquidator
The Cypriot judiciary will have to deal with two more cases concerning the Tanzanian FBME Bank Ltd, weeks after a US court in April dismissed
Georghadji says action against FBME necessary to protect system
Central Bank of Cyprus Governor Chrystalla Georghadji said the supervisory authority was compelled to take action against FBME in July 2014 in order to protect
JCC and eight banks fined €31 million for price-fixing
The Commission for the Protection of Competition (CPC) has slapped a collective €31 million fine on payment processing company JCC and eight commercial banks for
FBME owners triple claims, now demand €1.5bn from Cyprus
The owners of FBME Bank Ltd, which resorted to international arbitration after its Cyprus branch was placed in resolution, have tripled their claims against Cyprus,