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🎯 Standard Chartered loses bid to cut U.S. sanctions breach claims from UK lawsuit. 200 investors are suing Standard Chartered for untrue statements about its sanctions non-compliance between 2007 and 2019. Reuters
Top Stories
🌎 Russian Tycoon Usmanov Sues UBS Over Money Laundering Reports. In 2022, German authorities carried out nationwide raids of properties linked to Usmanov as part of a probe into his luxury compound in Bavaria. Bloomberg
🌎 Adidas is investigating allegations of embezzlement and kickbacks in China. A senior executive embezzled millions of euros and took huge kickbacks from external advertising and celebrity agencies. CNN
🌎 MS-13, Russian mobsters use migrants in elaborate injury scam — even getting spinal surgery to pull it off. Gangsters and a cadre of corrupt surgeons, lawyers and lenders are pulling off the latest big con in the city. NYP
🌎 Treasury Secretary Yellen says use of Russian assets from Ukraine is not 'theft'. The G7 told Moscow that the actual assets will remain frozen until Russia agrees to pay for the damages Ukraine has sustained. ABC
🌎 Between hollow rhetoric and war: how sanctions work – and why they often don’t. From ancient Greece to modern Russia, sanctions are now the go-to option for policy-makers – so why do they so rarely achieve their aims? Guardian
🌎 Dutch Businessman Helps Russia Import Western Brands Like Nike, Lego. Herinckx’s firm purchases products using intermediaries with no apparent connection to Russia, ships them to Russia, often via Turkey, and finally delivers them to retailers. Reuters
🌎 Treasury Targets Houthi Weapons Procurement and Funding Networks. Houthi leaders transfer weapons-grade materials purchased from PRC-based suppliers into Yemen using import-export firms in third countries. U.S. Treasury
🌎 Chinese state-owned firm faces multibillion-dollar judgment in US price-fixing lawsuit. Irico participated in a years-long conspiracy to overcharge purchasers of cathode ray tubes once widely used in tech products. Reuters
🌎 Fraud Police Probing Ex-Glencore Staff Plan to Press Charges. The commodity trading industry has been dogged by anti-corruption investigations for years, but few individuals have faced prosecution. Bloomberg
🌎 Venezuela Watchers Say Maduro Will Seek to Evade Latest Sanctions. The US reinstated gold and oil sanctions on May 31 after Maduro failed to honor an agreement to allow a fairer vote in upcoming elections. Bloomberg
🌎 Two Men Charged With Running Darknet Marketplace Empire Market. Thomas Pavey and Raheim Hamilton were previously charged with selling counterfeit currency on AlphaBay. CoinDesk
🌎 US imposes sanctions on Nordic Resistance Movement in fight against white supremacy. NRM is the largest neo-Nazi group in Sweden and has branches in Norway, Denmark, Iceland and Finland. Reuters
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