Investigations Financial News

Toronto-Dominion Bank has now set aside a total of US$3 billion to cover a global settlement of criminal and civil investigations into shortcomings in anti-money laundering (AML) controls in the United States, which is likely to turn attention to a plan to replace chief executiveBharat Masrani.

CBI alleged in the Supreme Court on Thursday that there was an attempt to cover up the rape and killing of a post-graduate medic at Kolkata's RG Kar Medical College and Hospital by the local police as the crime scene was altered by the time the federal agency took over the probe. Appearing in the court on behalf of the Central Bureau of Investigation (CBI), Solicitor General Tushar Mehta told a bench headed by Chief Justice D Y Chandrachud that senior doctors of the hospital as well as the victim's colleagues had asked for videography, which means even they had felt that there was a cover-up. «We entered the probe on the fifth day. Before that, whatever was collected by the local police was given to us. The investigation itself was a challenge because the scene of offence was altered. The FIR was registered only after the (victim's) cremation at 11:45 pm. »First, the parents of the victim were informed by the deputy superintendent (of the hospital) that she was not well. When they reached the hospital, they were told that she had committed suicide… Fortunately, the colleagues of the deceased insisted for videography. This suggests that they were suspecting a cover-up," Mehta told the bench, also comprising Justices J B Pardiwala and Manoj Misra.

Toronto-Dominion Bank missed analysts’ estimates as wealth-management results underperformed expectations and the company took a restructuring charge related to job cuts, adding to the firm’s troubles as it also booked a new US$2.6 billion provision for fines tied to U.S. money-laundering investigations.

Siddaramaiah on Thursday urged Union Steel & Heavy Industries Minister HD Kumaraswamy to resign from the Cabinet over approving 550 acres of forest land to an ‘unregistered company’ and face trial. He “now sheds tears, claiming, the signature isn't mine; it was forged,” the CM posted on X in continuation of a bitter war of words between the two top political leaders in Karnataka. Siddaramaiah took potshots at Kumaraswamy demanding his resignation over the Mysore Urban Development Authority (MUDA) alternative site allotment case though there was neither a note from him nor his signature. And the allotment did not take place during his tenure either. “Yet you demand my resignation?”

The asset manager's shares slumped 12.5% yesterday after the firm said in a statement that Ken Leech, co-CIO of subsidiary Western Asset Management had taken a leave of absence.  Last month, Franklin Templeton said that the US Department of Justice and the Securities and Exchange Commission were launching an investigation into WAM's past trade allocations of treasury derivatives in a plethora of WAM-managed accounts.  WAM has said the company is «cooperating with the investigations». Based on the conclusion of the SEC's investigation, the firm said it will «take action as warranted». ...

An Arizona truck driver has been sentenced to 22 years and six months in prison after pleading guilty to killing five people while driving distracted on his phone.

«It’s not a matter of if, it’s a matter of when,» small business owner Payton Jones told Jason Rantz about when the public will become victims. (Credit: @jasonrantz via X)

National Highway Traffic Safety Administration said on Thursday it was closing its preliminary evaluation into hard braking and immobilization in autonomous ride-hailing vehicles operated by General Motors' Cruise unit. «In view of the recall action taken by Cruise and ODI's analysis of the available data, including data presented by Cruise demonstrating a reduced occurrence of hard braking incidents after the software updates, ODI (Office of Defects Investigation) is closing this Preliminary Evaluation,» NHTSA said in a letter. Cruise still faces investigations by the Justice Department and Securities and Exchange Commission following an accident last October in which one of its robotaxis struck a pedestrian and dragged her 20 feet (six meters).

chartered accountant from Vikhroli, Mumbai, after his car inadvertently splashed water on them from a deep pothole near Jan Seva Bank in Keshavnagar, Mundhwa, in Pune around 5.45 PM on Monday. The victim, Yash Manwani, sustained injuries and later lodged a complaint with the Mundhwa police. The incident took place when Yash Manwani, 29, was driving to Keshavnagar to pick up his siblings for Rakshabandhan. Manwani, who hails from Bhopal and lives in Vikhroli, works with a private firm. «I was going to Keshavnagar to pick up my brother and sister on the occasion of Rakshabandhan,» he told TOI. Near Janaseva Bank, his car drove through a deep pothole filled with water, splashing the duo on the bike and two passing pedestrians. The biker chased Manwani's car and kicked its driver's side, prompting him to stop and roll down his window to explain the situation. However, the biker and his pillion rider forced Manwani out of the car and started a quarrel. «I advised them to visit the nearby Keshavnagar police chowkey, but they refused,» said Manwani. The two pedestrians reached the scene, and the four men started to abuse and physically attack him.

Thawarchand Gehlot after he sanctioned prosecution against CM Siddaramaiah in the MUDA scam. The protest was led by the Leader of the Opposition in the Legislative Council Chalavadi Narayanaswamy. BJP leaders and BJP Party Workers including former Deputy Chief Minister Dr.CN Ashwath Narayan joined the protest. CN Ashwath Narayan said, «It is a fight against corruption, a fight for justice. Urging Congres to take action against its CM Siddaramaiah and ensure that he is immediately dismissed...»

Maharashtra, the Bombay High Court on Thursday questioned the investigating authorities on whether complaint has been filed against the school where the incident happened under provisions of POCSO. «Did you register any case against the school? There is a provision in POCSO to make the concerned officer of the school a party for not reporting the crime,» said Bombay HC. During the hearing, the High Court was told that the investigation has started from every angle, and there will be no mistake anywhere.

Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk and Bitcoin Magazine.

The Chinese Commerce Ministry said Wednesday that it would launch an investigation into subsidies given by the European Union and EU member countries for dairy products that could lead to tariffs on their export to China. The announcement came one day after the EU released a draft decision to finalise tariffs on electric vehicles made in China, in a follow-up to provisional tariffs announced last month. The tariffs have been denounced by the Chinese government and automakers and threaten to set back the industry's efforts to go global.

Professor Manas Kumar Bandopadhyay has been appointed the principal of RG Kar Medical College and Hospital in Kolkata. This development comes a week after Prof Suhrita Paul was appointed to the post. Paul has been appointed the principal of Barasat Government Medical College and Hospital, as per a notification issued by the West Bengal Health Department. Earlier, the Health Department cancelled the appointment of Prof Sandip Ghosh as the Principal of National Medical College & Hospital following the Calcutta High Court directive. Ghosh was the former principal of RG Kar Medical College and Hospital.

Western Asset Management co-chief investment officer Ken Leech faces a potential enforcement action from the Securities and Exchange Commission as part of a probe into whether some clients were favored over others in allocating gains and losses from derivatives trades.

Federal Reserve and the Bank of Japan that will help define the global rates trajectory. The MSCI Asia Pacific Index climbed 0.2% as benchmarks in Japan, Australia and South Korea rose. That came after the S&P 500 and Nasdaq 100 indexes advanced on further signs the Fed will cut interest rates.

Toronto-Dominion Bank is taking a provision of US$2.6 billion for fines it expects to pay for failures in its money-laundering controls, and has sold part of its stake in Charles Schwab Corp. to fund it.

U.S. officials say they referred 43 cases of unruly airline passengers to the FBI for possible prosecution in the last year

Police in multiple cities across Canada are responding to bomb threats that were sent to Jewish organizations, synagogues and some hospitals this morning.

Divers searching the wreck of a superyacht that sank off Sicily have found four bodies as the search for missing passengers persisted and questions intensified about why the sailboat sank so quickly

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...