Tag: Germany

German Police Seize $2.1 Billion in Bitcoin From File Sharers – Bloomberg

German prosecutors provisionally seized nearly 50,000 Bitcoin worth about $2.1 billion as part of an investigation into what they see as an illegal file-sharing platform. It’s the largest amount of Bitcoin ever secured by law enforcement in Germany, Saxony prosecutors said Tuesday. Germany’s Federal Criminal Police Office and the US Federal Bureau of Investigation supported the investigation. Source: German Police…

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Prosecutors Charge German in €24 Million Insider Trading Probe – Bloomberg

German prosecutors charged a 48-year-old man accused of making €24 million ($25.3 million) as part of a wider insider trading scheme. The German citizen has been detained since January, the Frankfurt prosecutor’s office said in a statement. He was engaged in 20 insider transactions and revealed insider information on 10 occasions between 2017 and 2021, authorities allege. Source: Prosecutors Charge…

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EY gets banned from new audit business in Germany | The Economist

EY just can’t get a break. The accounting-and-consulting giant is being sued for $2.7bn by the administrators of nmc, a London-listed hospital operator it had audited and which went into administration after understating debts by $4bn. ey is being investigated by the Financial Reporting Council (frc), a British regulator; the firm denies the administrators’ claims of negligence. Its plan to…

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Perella London Banker Suspected in Insider Probe Dies by Suicide – Bloomberg

A London-based Perella Weinberg Partners banker died by suicide in the days after the firm’s UK headquarters were searched as part of a German investigation into insider trading, people familiar with the matter said. The deceased banker was one of the suspects in the probe, the people said, asking not to be identified discussing sensitive information. Source: Perella London Banker…

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Perella Weinberg London HQ Searched in Insider Trading Probe – Bloomberg

Perella Weinberg Partners LP London headquarters were searched this week as part of a German insider trading investigation. The investment bank was searched by officials on Jan. 25. Frankfurt prosecutors are looking into allegations that a London-based employee at the bank disclosed information on planned takeovers and other suspects traded on that, according to people familiar with the matter. Perella…

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Germany arrests man for suspected M&A insider trading; four other suspects | Reuters

A 47-year-old German man has been arrested on suspicion of insider trading on upcoming M&A deals, one of five suspects who generated millions of euros between 2017 and 2021, Frankfurt prosecutors and German regulators said on Thursday. The authorities said they had been conducting an investigation since November 2021, and that they carried out multiple searches this week and last…

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Ernst & Young’s Germany Branch Escapes Wirecard Fraud Lawsuit

A German accounting firm affiliated with, but distinct from, Ernst & Young Global Ltd. won’t remain in a US investors’ suit over the collapse of Wirecard AG, a finance company that allegedly invented fictional escrow accounts worth €1.9 billion. Ernst & Young GmbH Wirtschaftspruefungsgesellschaft lacks enough of a link to the US to be sued in federal court in Pennsylvania…

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