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A U.S. jury began deliberations on Tuesday in the trial of a former Goldman Sachs banker accused of helping loot billions of dollars from Malaysia's 1MDB sovereign wealth fund, Reuters reported. Prosecutors say Roger Ng, Goldman's former top investment banker for Malaysia, helped his former boss Tim Leissner embezzle money from 1MDB, launder the proceeds and bribe officials to win business for Goldman. The Malaysian fund had been founded to pursue development projects in the Southeast Asian country. Ng has pleaded not guilty to conspiring to launder money and violating an anti-corruption law.
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A former Goldman Sachs banker should be convicted of helping loot billions of dollars from Malaysia's 1MDB sovereign wealth fund and causing "immeasurable" harm, a U.S. prosecutor told jurors in her closing argument on Monday, Reuters reported. Roger Ng, Goldman's former top investment banker for Malaysia, faces charges he helped his former boss Tim Leissner embezzle hundreds of millions of dollars from the fund, launder the proceeds and bribe officials to win business for Goldman. Assistant U.S.
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The U.S. Treasury on Monday proposed a new mechanism to comply with and enforce a 15% global corporate minimum tax agreed to last year by 136 countries, partly by denying deductions for taxes paid in jurisdictions with lower rates, Reuters reported. The new Undertaxed Profits Rule proposed as part of President Joe Biden's fiscal 2023 budget plan would replace the current U.S.

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From the pandemic to Europe’s largest military conflict since World War II, it seems the world is moving from one extraordinary period to another. The conflict in Europe has generated a maze of rapid legal, political and economic responses from authorities around the globe. Those actions are rippling through capital, markets and boardrooms as businesses grapple with how to respond. Join ABI and a panel of experts to discuss where we are headed and what businesses should consider.

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The apartments typically go unused, instead acting as an investment vehicle to hold onto money, Africa Business Insider reported. They're often held through a trust or shell company to hide the identity of the true owner. In a small city in South Florida called Sunny Isles Beach, luxury condos tower over the Atlantic Ocean. But high above the busy streets, not all of the city's multi-million dollar apartments light up at night.

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Delta Air Lines Inc. said it’s working with Air France-KLM as the Paris-based airline considers joining in the bidding for a stake in Italy’s state-owned carrier, Bloomberg reported. Italia Tranporto Aereo would be a welcome recruit to the North Atlantic alliance led by Delta, according to Ed Bastian, the U.S. carrier’s chief executive officer. “Air France-KLM is in the lead in terms of actually making a potential investment,” Bastian said in a briefing in London on Tuesday.

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The American Bankruptcy Institute (ABI) and professionals from law firm Squire Patton Boggs and the Arab Gulf States Institute will be presenting a webinar on Tuesday, March 22, 2022, at 12:00 noon EDT (6:00 p.m. UTC, 7:00 p.m. CET) to discuss the financial repercussions of Europe’s largest military conflict since World War II. The conflict in Europe has generated a maze of rapid legal, political and economic responses from authorities around the globe. Those actions are rippling through capitals, markets and boardrooms as businesses grapple with how to respond.

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Gayle Killilea, former wife of bankrupt property baron Sean Dunne, this week appealed a 2019 U.S. jury verdict ordering her to pay nearly €20 million to the trustee of his US bankruptcy, the Irish Times reported. Killilea’s lawyer Patrick Fahey filed the appeal on Thursday with the US court of appeals for the second circuit in New York. She joined her ex-husband Mr Dunne who flied a separate appeal with the same court last year. Thomas Curran, a lawyer for the bankruptcy trustee, said on Friday he is confident the court will uphold the verdict.
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