Hello! It’s June 13, and we’re tracking today’s top stories: VTB to sell one of Russia’s biggest grain traders, Umpqua Bank’s $350M Ponzi scheme, the Left takes notice of ESG oligarchy, Russia turns oil tap on for North Korea, and much more…

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Featured Story

🎯VTB to sell one of Russia's biggest grain traders, Demetra-Holding. Asked if buyer could be Chinese, Kostin said: "Why China? We have lots of friends, more than 100 countries did not support the anti-Russian sanctions, so we will choose one of them."

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Top Stories

🔸This Bay Area bank ignored $350 million Ponzi scheme despite ‘obvious’ fraud. Investors say Umpqua Bank’s Novato branch turned a blind eye to questionable transactions and helped protect the scam’s architects. [more]

🔸The Left takes notice of the ESG oligarchy. Progressives see that the ESG cartel is cartoonishly elite. And they are perpetrating a gross violation of antitrust law, a set of regulations revered as sacred by many on the Left. [more]

🔸Russia Turns Oil Tap for North Korea Back On as US Warns on Weapons. Russia has resumed sending oil to sanctions-hit North Korea for the first time since 2020, deepening cooperation between the two nations that the US claims also includes sending arms from Pyongyang. [more]

🔸Trump could face ‘terminal sentence’ if DOJ proves even one count. Jonathan Turley says former President Trump could die in prison if convicted on just one count after being indicted on dozens of charges. [more]

🔸Flight training for Chinese military pilots targeted in latest US export crackdown. The Biden administration on Monday added 43 entities to an export control list, including Frontier Services Group Ltd, a security and aviation company previously run by Erik Prince. [more]

🔸Little Sister Takes Charge as Kim Jong Un Morphs Into Vegas-Era Elvis Presley. Kim Yo Jong is becoming the dynasty’s voice of authority as intel reports claim her brother is spiraling into dependency on booze, sleeping pills and imported cheeses. [more]

🔸Iran, Venezuela eye trade increase, sign petrochemical deal. Maduro hailed Raisi's visit and the two countries' bilateral relationship and said further deals and investments were on the horizon. [more]

🔸Atomic Wallet Hackers Move Stolen Funds via OFAC-Sanctioned Exchange Garantex. The attackers are believed to be the infamous North Korean hacker group Lazarus. [more]

🔸Check fraud has gotten so rampant that postal officials are warning Americans to avoid mailing checks. Criminals are getting the checks or identification information by fishing mail out of U.S. postal boxes. [more]

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IN THE NEWS

Russia

🔸Could the ruble end Putin's reign? Chart maps Russian currency's staggering collapse [more]

🔸Russia Metal Boss Taps VW, Glencore on $1 Billion Mine SPAC Deal [more]

🔸Pakistan paid in Chinese currency for discounted Russian oil [more]

🔸US lawmakers call for South Africa to lose summit over Russia ties [more]

China

🔸Ex-Samsung exec charged with stealing trade secrets to create copycat chip factory in China [more]

🔸Bank of China’s BOCI Issues Tokenized Securities on Ethereum in Hong Kong [more]

🔸Shunned by US, China investors use Mexico to keep grip on North American market [more]

🔸Dutch government to screen foreign PhD tech students, denies targeting China [more]

Delve into terrorist financing case studies, ranging from how groups and organizations finance their activities to how specific attacks were funded.  Enroll today!

Corruption & Financial Crime

🔸Democrat Big Shot Raked in Millions Meant for NYC’s Poor [more]

🔸More companies setting ‘net-zero’ climate targets, but few have credible plans [more]

🔸Jordanian army says it downs drone carrying drugs from Syria [more]

🔸Top lawyer for Venezuela’s state oil company sentenced to 3 years for racket tied to Miami [more]

Industry Viewpoints

📍Why US DOJ Will File, Or Has Already Filed Under Seal, a Binance-Related Criminal Indictment [more]

📍AML Voices: Public-Private Partnerships [more]

📍DOJ's Corporate Crime Database: What is "Significant, Relevant"? [more]

📍On Fraud and How to Mitigate the Risks [more]

📍Preparing for Outbound Investment Review: Considerations for Financial Services [more]

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