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U.S. investigates Deutsche Boerse unit over Iran sanctions

By Jonathan Gould FRANKFURT (Reuters) - German exchange operator Deutsche Boerse has again become the target of U.S. authorities in an investigation over whether its Clearstream Banking unit violated U.S. money laundering and Iran sanction laws. Deutsche Boerse on Wednesday said Clearstream was cooperating in an investigation launched by the U.S. Attorney for the Southern District of New York, months after reaching a $152 million settlement with the U.S. Treasury's Office of Foreign Assets Control (OFAC) over the same issue.

Deutsche Boerse's Clearstream in money-laundering probe

German stock market operator Deutsche Boerse said Wednesday that its clearing and settlement unit Clearstream is the target of a money-laundering probe in the United States. "Clearstream Banking has been informed that the United States Attorney for the Southern District of New York has made Clearstream subject of criminal investigation in connection with alleged violations of US money laundering and Iran sanction laws," Deutsche Boerse said in a statement.

Deutsche Boerse's Clearstream in moneny-laundering probe

German stock market operator Deutsche Boerse said Wednesday that its clearing and settlement unit Clearstream is the target of a money-laundering probe in the United States. "Clearstream Banking has been informed that the United States Attorney for the Southern District of New York has made Clearstream subject of criminal investigation in connection with alleged violations of US money laundering and Iran sanction laws," Deutsche Boerse said in a statement. Clearstream was cooperating with the investigation which was still at a "very early stage," the statement added.

Listed firms' net drops 4.4 pct in 2013

SEOUL, April 1 (Yonhap) -- Earnings by South Korea's listed companies fell nearly 4.4 percent in 2013 from a year earlier amid the global economic slowdown, data showed Tuesday. The combined net profit of 494 firms listed on the main bourse came to 1,813 trillion won (US$1.71 trillion) on a consolidated basis last year, up 1.84 percent from 1,780 trillion won a year earlier, and their operating income advanced 3.4 percent on-year to reach 60.4 trillion won, according to data compiled by the Korea Exchange (KRX).

French minister suspected of lying about assets

France's minister in charge of relations with French-speaking countries, Yamina Benguigui, is suspected of lying about her assets, a state-appointed transparency watchdog said Monday. Francophonie Minister Benguigui has repeatedly and formally denied media allegations that she had failed to declare assets of up to 430,000 euros ($592,000). The High Authority for Transparency in Public Life said there was a "serious doubt on the comprehensiveness, accuracy and sincerity" of the minister's declaration regarding her assets.

Judiciary sets guidelines in prison labor system

SEOUL/GWANGJU, March 28 (Yonhap) -- The nation's top court set up general guidelines in the current prison labor system on Friday, officials said, in response to criticism that a convicted property developer had exploited legal loopholes to dodge levied fines. The Supreme Court established guidelines for determining the value of labor costs and sentences so that the daily cost of prison labor would not be fixed too high, they said.

Ex-tycoon appears before prosecution over massive unpaid fines

SEOUL/GWANGJU, March 28 (Yonhap) -- A convicted property mogul at the center of a controversy for being allowed to pay off massive fines with prison labor appeared before prosecutors Friday to face questioning over the unpaid fines. "I will pay the fines as soon as possible after persuading my family," Huh Jae-ho, the former chairman of the now-bankrupt Daeju Group, told reporters before entering the Gwangju District Prosecutors' Office in the southwestern city of Gwangju at about 1:30 p.m.

Ex-UBS employee-turned-witness avoids prison in bid rigging case

By Nate Raymond NEW YORK (Reuters) - A former UBS AG trader who became a cooperating witness in the U.S. government's sweeping probe of bid-rigging in the $3.7 trillion municipal bond market was sentenced to time served on Thursday. Mark Zaino, a former director on UBS' municipal bond and derivatives desk in New York, had pleaded guilty to conspiracy and wire fraud charges in 2010, becoming the fourth person to admit wrongdoing as part of the antitrust investigation.

S. Korean tycoon to pay fine after jail work overruled

South Korean prosecutors Wednesday overturned a controversial landmark ruling allowing a convicted property mogul to pay off a multi-million dollar fine with 49 days of prison labour, a report said. Seoul's Supreme Court sparked outrage in 2011 when it ruled that former Daeju group head Huh Jae-Ho would be able to undertake the jail work rather than paying 25.4 billion won ($23 million) following a conviction for embezzlement and tax evasion.

Ukraine crisis casts cloud over Moscow anti-money laundering meeting

By Mark Hosenball and Anna Yukhananov WASHINGTON (Reuters) - Russia's takeover of Crimea and the ensuing East-West crisis have cast a cloud over a meeting of top international anti-money laundering officials scheduled to take place in Moscow in June. The meeting of the Financial Action Task Force, bringing together chiefs of government "financial intelligence units" set up to spot and crack down on illicit financial transactions, is slated to be held in Moscow from June 16 to 20.
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