• Trafigura agrees to preserve email data of former executives charged in Brazil bribery case
    04 February 2019
    Multinational trading company Trafigura told Brazilian federal prosecutors it will preserve the e-mails of two former company executives implicated in a bribery scheme with state-controlled oil giant Petrobras, according to a court filing.

    The filing was submitted today by Trafigura’s legal team to federal judge Gabriela Hardt. Hardt oversees the bribery lawsuit against Mariano Marcondes Ferraz and Marcio Pinto de Magalhães, the two former executives of the multinational company.

    Documents attached to the filing show an exchange of letters between Trafigura do Brasil Consultoria and Trafigura Limited, based in London. On Jan. 30, Trafigura Limited replied to the Brazilian unit that “the e-mails currently on the Relevant Accounts are being preserved” — as federal prosecutors had requested after the data-protection matter was brought to their attention.

    By Rodrigo Russo.

    To request the full article please click here >

  • Trump's AG pick has pushed for, against big telecom deals for corporate employers
    10 January 2019
    President Donald Trump’s choice for his next attorney general, William Barr, has a track record of high-profile advocacy both for and against major telecommunications deals based on the interests of his corporate employers.

    Barr, who could take the helm at the Justice Department while T-Mobile and Sprint’s proposed merger is pending, was involved in several transactions as general counsel at GTE and its successor Verizon between 1994 and 2008. The work followed Barr’s previous stint as President George H.W. Bush’s attorney general.

    Barr’s appointment is not seen as likely to mark a major shift in antitrust enforcement under President Trump given that attorneys general are typically fairly removed from the department’s caseload. Still, they may involve themselves more in areas where they have past experience.

    By Jenna Ebersole.

    To request the full article please click here >

  • Ex-Deutsche Bank traders push to overturn Libor manipulation convictions, accusing prosecutors of misconduct
    11 December 2018
    ​Two former Deutsche Bank traders convicted of manipulating the interest benchmark Libor have asked a judge to throw out the guilty verdicts, accusing prosecutors of a "laundry list" of misconduct. The government, according to the traders' argument, ran Deutsche Bank's external investigation into the matter, effectively forcing a defendant to testify, and hid that Goldman Sachs, a supposed victim, didn't actually care to participate in the case.

    The two ex-traders, Matthew Connolly and Gavin Black, urged a judge to overturn guilty verdicts, outlining in court filings entered Monday what they characterized as widespread misconduct by prosecutors.

    The convictions should be vacated and the indictment dismissed as a result of the government’s systematic and pervasive misconduct throughout this case," lawyers for Black and Connolly wrote. "This misconduct infected each stage of this case — from indictment through conviction."

    By Richard Vanderford.

    To request the full article please click here >

  • Ex-JPMorgan trader to face foreign exchange rate-rigging trial in October
    11 December 2018
    Former JPMorgan trader Akshay Aiyer will go on trial in October on charges that he conspired to rig foreign exchange rates on several Middle Eastern and African currencies, a judge said, allowing both sides extensive preparation for what Aiyer's lawyers said will be a complicated three-week trial.

    The trial of Aiyer, who was indicted in May, is scheduled to begin Oct. 21, US District Judge John Koeltl said today at a hearing in New York federal court.

    Prosecutors alleged that Aiyer, who worked as an analyst on JPMorgan's Eastern European, Middle Eastern and Africa desk, rigged exchange rates from 2010 to 2013.

    By Richard Vanderford.

    To request the full article please click here >

  • 'Dark Web' intelligence firms skirt regulatory risk to search out stolen data
    12 November 2018
    No one really knows how big the Dark Web is — that expanse of cyberspace not indexed by mainstream search engines, a realm of websites, forums and messenger services where stolen data is bought and sold, hacking software is hawked and the proceeds of cybercrime are laundered.

    Increasingly, security online is tied to knowing the Dark Web. The nature of data breaches is that often the first sign a network has been breached is when its purloined data shows up for sale on the Dark Web. Through automated monitoring — and human intelligence — cyberdefenses are extending ever further into the Dark Web itself, operations that must operate with regulatory risk in mind due to rules like Europe’s General Data Protection Regulation.

    By Mike Swift.

    To request the full article please click here >