Equifax Executives Sold $1.8M in Stock Before Disclosing Massive Data Breach

the credit reporting agency Equifax said Thursday that a software vulnerability left personal information for 143 million people exposed to hackers, in one of the largest data breaches in U.S. history. Equifax said the information included Social Security numbers, driver’s license information, credit card numbers and other data. Bloomberg reports that just days after learning [...]

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Galena Biopharma to Pay $7.5 Million to Settle False Claims Charge

Galena Biopharma will pay more than $7.55 million to resolve allegations that it paid kickbacks to doctors to induce them to prescribe its fentanyl-based drug Abstral. The allegations rose from a whistleblower suit filed under the False Claims Act. Federal officials alleged that Galena Biopharma paid multiple types of kickbacks to induce doctors to prescribe [...]

Edmond de Rothschild fined for alleged involvement in 1MDB scandal

The Luxembourg Financial Sector Supervisory Commission (CSSF) has ordered the private bank Edmond de Rothschild to pay a fine of almost €9 million as part of its alleged involvement in the Malaysian 1MDB misappropriation scandal. "The CSSF communicated the conclusion of the administrative procedure to Edmond de Rothschild (Europe) on 21 June," the private bank [...]

Ex-Banker Gets 7 Years in Prison for Taking Bribes While African Minister

A Guinea-born former Wall Street banker was sentenced to seven years in prison for laundering $8.5 million in bribes that he took while a government minister in the West African country. Mahmoud Thiam was convicted in May of taking illegal payments to help China International Fund Ltd. win exclusive rights to mine Guinea’s iron, gold, [...]

British Virgin Islands Responsible for worldwide tax losses of $37.5 billion a year

An extraordinary report by consultants Capital Economics, for BVI Finance, claims that the British Virgin Islands are responsible for $1.5 trillion of assets invested around the world, and that these result in 2.2 million jobs and $15 billion in tax revenue. A better approximation would be that the BVI imposes global tax losses of $37.5 [...]

Thousands Protest Corruption Amid Netanyahu Bribery Investigation

In Israel, thousands of protesters rallied outside the home of the Israeli attorney general to protest against corruption and President Benjamin Netanyahu, who is facing a criminal investigation into allegations of bribery, fraud and breach of trust. Netanyahu has been accused of trading political favors for $130,000 worth of luxury gifts, including cigars and champagne. [...]