The Malaysian financier, who is being investigated in connection with suspected fraud related to 1MDB, has said he was a victim of political infighting

U.S. authorities intend to file criminal charges against a financier in connection with an international scandal rooted in Malaysia that they believe could be one of the largest financial frauds ever, according to people familiar with the matter. read more »

Stink of Brazil meat corruption scandal puts off China and South Korea

The fallout from a corruption scandal in Brazil's massive meat industry is spreading, with China and South Korea suspending some imports and the European Union calling for a partial ban.

Meat has been one of Brazil's few thriving industries during its two year recession.

China, which accounted for nearly one-third of the Brazilian industry's $17.9 billion in exports last year, decided to suspend imports of all meat products from Brazil as a precautionary measure.jbs

Police named BRF, the world's largest poultry producer, its giant rival JBS SA, and dozens of smaller rivals in a two-year probe into how meatpackers allegedly paid off inspectors and politicians to overlook practices including processing rotten meat and shipping exports with traces of salmonella. read more »

US court slams binary options fraud, imposes $6.5m in penalties on Vision Financial Partners

Neil Pecker and his company Vision Financial Partners, LLC will have to pay restitution to defrauded investors of about $2.78 million and a $3.75 million civil monetary penalty.

Off-exchange binary options trading is prohibited in the United States and offering such services is against US laws. Violations of this type are treated seriously, with the latest piece of proof provided today by a Federal Court in Florida.

Today, the United States Commodity Futures Trading Commission (CFTC) announced that Judge James I. Cohn of the U.S. District Court for the Southern District of Florida entered a Consent Order against Neil Pecker of Florida and his company, Vision Financial Partners, LLC (Vision) of Deerfield Beach. The defendants were charged with fraudulent solicitation and misappropriation in connection with off-exchange binary options. read more »

Ousted S Korean President Park Geun-hye questioned for 14 hours

Ousted South Korean President Park Geun-hye is expected to be released by prosecutors after a 14-hour interrogation over a corruption scandal that brought her down.

Ms Park denied all charges on Tuesday, Yonhap news agency reported, citing sources.

She could be charged for allegedly allowing close friend Choi Soon-sil to extort money from large firms.

Ms Choi has been charged with bribery and corruption. read more »

China Medical Technologies Executives Charged in U.S. Fraud Case

The founder and a former executive of China Medical Technologies Inc. were charged in the U.S. with stealing more than $400 million from investors in the bankrupt maker of medical diagnostic tests as part of a seven-year scheme. read more »