Massive Bank and High Profile Resignations Across the World

[PathWalker]

Thanks to Sabrina for this great thread.

I follow it with great interest and awe.
I do believe massive arrest are to come. As part of war games, and disclosure.
I do not believe the justice system as we know it will work, since it is a reflection of world corrupted justice beliefs.

I believe a new system is in the process of creation. Once the mass public aligns its moral values it will be born.
So for now lets rejoice the destruction of the old system.

[Sabrina]

Well you wouldn't want to hang around at the moment really.... this is significant I imagine.

http://www.guardian.co.uk/business/2...ght-leaves-bba
2 April
British Bankers Association Angela Knight to leave
Former Tory MP represented industry during the Northern Rock crisis, the collapse of Lehman Brothers and the part-nationalisation of Lloyds Banking Group and RBS


The banking sector's chief advocate during a time of "extraordinary difficulty" for the industry is to step down after five years at the helm.

Angela Knight, 61, will leave her post as chief executive of the British Bankers' Association this summer after acting as a spokeswoman for the industry through a "crisis of a magnitude that few if any have seen before or expected".

The former Conservative MP, who took up the post on 1 April 2007, represented the industry during the biggest run on a British bank - Northern Rock - the collapse of Lehman Brothers and the part-nationalisation of Lloyds Banking Group and Royal Bank of Scotland.

Knight has more recently been dealing with the continuing bonus furore, fending off accusations of unbridled excess and a fat cat culture in the City.

The University of Bristol graduate said: "The UK banking industry has already undergone radical restructuring to make it fit for the future and I am pleased to have played a part in this." She will stay on while the search for her successor is completed, the BBA said.

Knight continued: "I have been at the British Bankers' Association at a time of extraordinary difficulty and during a crisis of a magnitude that few if any have seen before or expected.

"The BBA has played a strong part throughout this challenging period and has helped the industry it represents with the significant changes to regulation and legislation required."

She added: "I leave the BBA in good health and heart."


Interesting to note she has been described as:

The face of UK banking, Angela Knight, steps down



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http://business.financialpost.com/20...Top+Stories%29

RBC sued by U.S. regulators over trades worth hundreds of millions
Bloomberg News Apr 2, 2012


Royal Bank of Canada is being sued by U.S. regulators over claims that the Toronto-based lender engaged in a series of illegal futures trades worth hundreds of millions of dollars to garner tax benefits tied to equities.

Canada’s biggest bank made false and misleading statements about “wash trades” from 2007 to 2010 in which affiliates traded among themselves in a way that undermined competition and price discovery on the OneChicago LLC exchange, the Commodity Futures Trading Commission said in a statement today. The allegations will be laid out in a complaint set to be filed in U.S. District Court in New York, the CFTC said.


“A fundamental purpose of the futures markets is to provide an arm’s-length mechanism for market participants to discover prices and shift risks associated with products traded in those markets,” CFTC enforcement director David Meister said in an e-mail statement. “RBC not only designed and executed a wash sale scheme that undermined that purpose, it went a step further and misled the exchange into believing that its conduct was lawful.”

Royal Bank enlisted affiliates to help carry out hundreds of futures transactions that were done off-exchange and then reported to OneChicago as block trades between independent affiliates, according to the CFTC. A single group of RBC employees designed and managed the strategy, the agency said.



The trades, which resulted in Royal Bank not having a financial position in a market, were conducted for Canadian tax benefits tied to holding certain stocks, the CFTC said in its statement. The transactions, involving single-stock futures and narrow-based indexes, were used to hedge the risk of holding the equities, according to the statement.

Royal Bank responded to the allegations in a statement on Monday by saying the trades in question were carried out in an appropriate manner.

“These trades were fully documented, transparent, and reviewed by both the CFTC and the exchanges…. it is absurd to now claim these trades were either fictitious or wash sales,” the bank said in the statement.

The CFTC is seeking monetary penalties and an injunction against further violations, the agency said.

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http://www.cbc.ca/news/business/stor...h.html?cmp=rss
2 April
World Bank suspends SNC-Lavalin unit's bidding rights


Montreal-based engineering giant SNC-Lavalin said Monday the World Bank has temporarily suspended the right of one of its subsidiaries to bid on the bank's projects.

The bank is the world’s largest development organization.

In a release, SNC-Lavalin said the suspension was imposed based on allegations in a confidential report by the bank on bidding by the subsidiary relating to the Padma Bridge project in Bangladesh.

"The scope of the project, which was not awarded, was to act as the owner's engineer for the Bangladesh government in supervising the contractor responsible for the overall bridge construction project," the firm said.

The release came a week after former SNC-Lavalin CEO Pierre Duhaime resigned following an internal investigation that revealed that he signed off on payments to undisclosed agents, breaching the company's code of ethics.

At the time, the company said it planned to inform police and other authorities about the results of the internal investigation that failed to determine the use of $56 million US in payments.

[Sabrina]

Global Resignations Facebook site latest from 31 March (http://tinyurl.com/7fdhsxz)


(Totals for all three categories (since Jan 02):


Banking & Financing – 319
Governments – 173
Companies etc. – 268


Banking & Financing:
4/02/12 (UK) Chief executive of the British Bankers’ Association Angela Knight steps down
http://tinyurl.com/d3l6spa

Governments:

4/02/12 (HUNGARY) President Pal Schmitt resigns in plagiarism scandal
http://tinyurl.com/d2d32sd


4/02/12 (HUNGARY) University Head Tivadar Tulassay resigns over plagiarism scandal
http://tinyurl.com/clv7l86


4/02/12 (USA) General Services Administration (GSA) chief Martha Johnson resigns amid reports of excessive spending, two others fired
http://tinyurl.com/7npkp5y


(Week 13: 40 resignations)


4/01/12 (ITALY) Member of Parliament Massimo Calearo resigns
http://tinyurl.com/cynm42a


3/31/12 (CANADA) Prime Minister Stephen Harper’s communications director Angelo Persichilli resigns
http://tinyurl.com/bthcwkh


Companies & Businesses:

4/02/12 (RUSSIA) Polyus Gold (Russia’s largest gold producer) president and CEO Evgeny Ivanov steps down
http://tinyurl.com/7kx6ctx


4/02/12 (SAUDI ARABIA) Saudi Telecom CEO Saud al-Daweesh resigns (said to have submitted his resignation in January, but the board only just now accepted it)
http://tinyurl.com/cq3k6mh


4/02/12 (INDIA) Firstsource (intl business process services provider) CEO Matthew Vallance steps down
http://tinyurl.com/cfj45vk


(Week 13: 40 resignations)


3/31/12 (CANADA) Former premier of Ontario Mike Harris steps down from Magna International Inc. alongside two other controversial board members
http://tinyurl.com/7r89zw5

[Sabrina]

http://www.lasvegassun.com/news/2012...l-resignation/
2 April

GSA head resigns amid reports of lavish spending at conference near Las Vegas
Associated Press

Monday, April 2, 2012 | 1:57 p.m.


The head of the federal agency that oversees supplies, transportation and office space for the federal government has resigned following reports of lavish spending at a Nevada training conference in 2010.

Martha Johnson, who led the General Services Administration, has submitted her resignation as the agency's inspector general prepares to release a report on the training conference outside Las Vegas.

The Washington Post reports that organizers spent $835,000 on the event, which was attended by 300 employees. Some of the expenses included $3,200 for a mind reader, $6,300 on a commemorative coin set and $75,000 on a training exercise to build a bicycle.

White House chief of staff Jack Lew says the White House "acted quickly to determine who was responsible for such a gross misuse of taxpayer dollars."

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http://edition.cnn.com/2012/04/02/wo...gns/index.html
2 April

Hungary's president quits over alleged plagiarism

Budapest, Hungary (CNN) -- Hungarian President Pal Schmitt resigned Monday, days after vowing he would not quit over allegations that he plagiarized parts of his doctoral dissertation.

Protesters had called last week for him to step down over the accusation.
"In this situation, when my personal issue splits my beloved country instead of uniting it, I feel it is my duty to end my service, and to resign," he told parliament Monday.

Schmitt insisted Monday that his conscience was clear, repeating an assertion he made in an interview aired Friday on public access television station M1.
He said Monday that he was prepared to go to court to prove that he was right.

[Sabrina]

http://www.dailystar.com.lb/Business...#axzz1qvJa7zEn
2 April

Saudi Telecom chief executive resigns

RIYADH: Saudi Telecom Co (STC), the kingdom's largest telecoms operator, said on Monday its chief executive will step down in October, but did not give a reason for his departure or name a successor.

Saud al-Daweesh's resignation, which was accepted by the board on Monday, will not take effect until October 1, the former state-owned monopoly said in a statement posted on the Saudi bourse website.

"Saudi Telecom announces that its group chief executive Saud al-Daweesh submitted his resignation effective as of October 1 2012, and the board accepted it on April 2," said the statement, which praised Daweesh for growing the business to include 160 million customers.

In January the company reported a 19 percent drop in net profits to 7.67 billion riyals ($2.1 billion).

Daweesh was appointed chief executive in 2009, seven years after the company floated 30 percent of its shares on the local stock market.

An engineer by trade, Daweesh's departure may aid STC's attempts to become a more dynamic, marketing-led company in the face of stiffening domestic competition, analysts said.

Yet a new leader may still struggle to change the former monopoly's public sector, bureaucratic culture, they warned.

STC, which remains majority government-owned nearly a decade after its partial privatisation, has operations across the Muslim world from Turkey to Indonesia.

[Sabrina]

http://www.cfoinnovation.com/content...ason-nears-end
2 April
More Auditor Resignations Seen as Audit Season Nears End

As audit season draws to an end, auditors are expected to resign from Chinese companies in the coming weeks as problems are expected to surface. Among the first case is Deloitte's resignation as auditor of a Hong Kong-listed company.

Deloitte resigned from Boshiwa International Holdings because the audit firm was not satisfied at the company's response to questions about some of its transactions, according to Reuters.

"We continue to have concerns about matters pervasive to the financial statements, including, for example, the existence and commercial substance of recorded prepayments amounting to 392,000,000 yuan ($61.93 million) with a supplier of the group," the auditor wrote in its letter.

Reuters says Boshiwa is looking into forming a special investigation committee to look at the issues raised by its former auditor and that it would have to delay the publication of its results.

Deloitte also resigned as auditor of Daqing Dairy Holdings Limited.

“We continue to have concerns about matters pervasive to the financial statements, including unexplained differences between sales receipt notes sighted during audit work in February 2012 and documents purporting to be the same sales receipt notes returned to the company in March 2012 ostensibly following a tax bureau investigation," says Deloitte in its resignation letter.

"We have outlined the steps which we consider necessary to address these matters. However, we have concluded that the company is not committed to the proposed course of action.”

Daqing has announced that trading in the shares of the company on the Hong Kong Stock Exchange has been suspended until further notice. The company says publication of its annual results will also be delayed.

Deloitte's resignations follow last year's run of accounting scandals at U.S.-listed Chinese companies. Reuters says the incidents have made auditors more alert of the consequences of being negligent.

In his latest entry on the China Accounting Blog following Deloitte's resignation, Paul Gillis, visiting professor of Accounting at Peking University, noted that more resignations can be expected in the next few weeks.

Tom Fyfe, a partner at Hong Kong law firm Clyde & Co, said last year's run of scandals has likely made auditors working on Chinese companies doubly careful when signing off on their books.

"They are likely to be asking more difficult questions of their clients, and if they get to the stage where they don't get satisfactory answers, will issue a disclaimed opinion and eventually come off," said Fyfe, who specialises in auditor liability cases.

Reuters notes that most of last year's high-profile accounting problems were at Chinese companies listed in the United States, several of which resulted in auditors facing class-action lawsuits from angry investors.

[Sabrina]

https://jhaines6.wordpress.com/2012/...y-jim-zarroli/

Former MF Global Exec Takes 5th At Hearing – by Jim Zarroli

EnlargeSusan Walsh/APFormer MF Global Holdings Ltd. Chairman and CEO Jon Corzine testified on Capitol Hill in December. On Wednesday, a former executive at the company refused to answer lawmakers’ questions about events in the run-up to the firm’s collapse.

A former executive at the center of the meltdown of brokerage firm MF Global appeared before Congress on Wednesday to answer questions from lawmakers. Members of the House Financial Services Committee were hoping assistant treasurer Edith O’Brien would explain the actions of the firm’s CEO, ex-New Jersey Gov. Jon Corzine.

O’Brien has recently been at the center of the MF Global scandal because of the role she played in the transfer of $175 million to cover an overdraft. It happened during the hectic last few days before the firm’s bankruptcy; lawmakers are trying to determine whether the funds came from customer accounts.
full story at link

[Applecart]

tnx for all the reports sabrina

[Daozen]

Yep we all appreciate it. I log on the thread about 3 times a day.

[Sabrina]

http://news.sky.com/home/business/article/16201858
3 April

BSkyB Chairman James Murdoch Steps Down

James Murdoch has resigned as chairman of BSkyB, saying he did not want his position to become a "lightning rod" for the company.

Mr Murdoch stood aside from his role with immediate effect at a board meeting on Tuesday afternoon, but will remain a non-executive director of the company, which owns Sky News.

His departure comes despite receiving backing from BSkyB shareholders, who reappointed him at the company's annual general meeting last November.
Explaining his resignation, Mr Murdoch said he wanted to distance the television broadcaster from events at News International (NI).

n a letter to the board, he wrote he was "determined that the interests of BSkyB should not be undermined by matters outside the scope of the company".
Mr Murdoch leaves the position just weeks before an MPs' report is published into phone-hacking practices at the now-defunct News Of The World, which was published by NI.
He said in his letter: "I have been privileged to serve first as chief executive and then as chairman of this outstanding company and I am proud of what we have achieved over this period.

"As attention continues to be paid to past events at News International, I am determined that the interests of BSkyB should not be undermined by matters outside the scope of this company."

He added: "I am aware that my role as chairman could become a lightning rod for BSkyB and I believe that my resignation will help to ensure that there is no false conflation with events at a separate organisation."

Shares in BSkyB closed on Tuesday 0.8% or 5.5p lower on the day at 675.5p.
The company's deputy chairman, Nicholas Ferguson, will take over from Mr Murdoch.
Mr Ferguson said: "The board's support for James and belief in his integrity remain strong.
"We understand his decision to step aside at this time and we both welcome and look forward to his continued contribution as a non-executive director."
In a statement Rupert Murdoch, the chairman and CEO of News Corporation - the 39% controlling shareholder of BSkyB - paid tribute to his son's "successful leadership".

"He has played a major role in propelling the company into the market-leading position it enjoys today - and in the process has been instrumental in creating substantial value for News Corporation shareholders," the senior Mr Murdoch said.

The development follows Mr Murdoch junior's decision in February to leave his role as executive chairman of News International, the UK newspaper business of News Corporation, which has been hit by allegations of phone hacking.

News International publishes The Times, The Sunday Times and the Sun, and published the News Of The World before it was shut down last July.

Nicholas Ferguson will take over from Mr Murdoch as BSkyB chairman

Mr Murdoch junior said in a letter to the Department for Culture, Media and Sport (DCMS) select committee last month that he accepted his share of the blame for not uncovering phone hacking at the Sunday tabloid sooner, but denied he had turned a "blind eye" to allegations of criminal wrongdoing.
The cross-party MPs that make up the DCMS are due to publish a report following their inquiry into phone hacking towards the end of April.
John Whittingdale, chairman of the DCMS committee, said he was not wholly surprised by Mr Murdoch's decision.
"The name Murdoch is a powerful one and the fact he was in the chair at BSkyB was always going to continue to provoke controversy," he said.
Pressure on Mr Murdoch intensified last month when the media regulator Ofcom stepped up its inquiry into whether BSkyB is a "fit and proper" broadcaster given the circumstances surrounding News Corporation and Mr Murdoch.

[Maia Gabrial]

I'm not buying into it. Arrests mean nothing. Prosecution does.
And compared to all the global criminals and their accomplices, these few resignations mean nothing. But this is a good start....

[Sabrina]

http://www.telegraph.co.uk/finance/n...ket-abuse.html
3 April UK
Top JP Morgan banker Ian Hannam resigns over £450,000 fine for market abuse
Ian Hannam, one of the City's most enigmatic bankers, has resigned from JP Morgan after being fined £450,000 by the Financial Services Authority for market abuse related to passing on insider information.

The City watchdog said it chose to "punish" Mr Hannam, JP Morgan's global chairman of equity capital markets, for relaying inside information about his client Heritage Oil to another contact in 2008.

The FSA said that while Mr Hannam "did not act without honesty or integrity" he should have known better because he was "a very senior banker" and "a role model". The regulator said the fine was also intended as a deterrent for "him and others" against committing market abuse.

However, many in the City hit back at the FSA and backed Mr Hannam. Mick Davis, Xstrata chief executive, said Mr Hannam was "a great credit to his profession". Martin Gilbert of Aberdeen Asset Management said his company would not have survived or been in the FTSE without the banker named "king of the miners".

David Davis, the former Tory leadership candidate who has backed Mr Hannam in his efforts to fight the FSA charges, branded the regulator "dysfunctional" and said its case was "astonishing".

"I really can't find where the common sense charge is. There has been no benefit, no loss, no trade," said Mr Davis. "To destroy someone's career just to extend the law about what is considered insider information is beyond what is reasonable. You don't try to convict people and then make it law. The FSA... have turned to scalp-taking missions."

However, a source close the FSA said the allegations were "plain and simple" and part of a "significant area of interest" for the regulator.
"There are clear regulatory responsibilities that bankers have. The fact that no one traded on this information is by the by – they could have," the source said.
The case has already been heard by the Regulatory Decisions Committee – an independent body of City experts – whose findings Mr Hannam will now fight in a tribunal.
The RDC notice said: "Mr Hannam's behaviour was not in the proper course of his employment, profession or duties. He disclosed inside information where this was unnecessary, unwarranted and purely in the furtherence of his client's commercial interests. Doing so was not reasonable."

The FSA's charge centres on two emails sent by Mr Hannam to Mr A – thought to be a Kurdistani politician – and a third party, Mr B, about Heritage Oil. JP Morgan was trying to sell the oil company on behalf of its boss, Tony Buckingham.

In September 2008, Mr Hannam sent Mr A an email telling him there was an offer for Heritage priced at 350p to 400p a share. "I'm not trying to force your hand, just wanted to make you aware of what was happening," he said. The following month, another email drafted on Mr Hannam's behalf said: "PS - Tony, has just found oil and it is looking good."

Following Tuesday's move by the FSA, Mr Hannam said he would stay on at JP Morgan to oversee deals such as the planned £50bn merger of Glencore and Xstrata and then step down to avoid "unfair distraction to my clients and colleagues".
He added: "It is important to note that the FSA has not challenged my fit and proper status and has accepted that I acted with honesty and integrity. I strongly believe... the FSA's conclusions are wrong."

[Sabrina]

Posted by Maia Gabrial (here)
I'm not buying into it. Arrests mean nothing. Prosecution does.
And compared to all the global criminals and their accomplices, these few resignations mean nothing. But this is a good start....

Quite a few arrests and significant fines already posted here, plus resignations due to corruption charges. Kwok Brothers - Hong Kong - a very big recent one. And these already posted.
Updated 3/27/12

This is a new list I've started on banker arrests. This is preliminary and not complete. This research in progress. If you know of any additional arrests please send use the URL to americankabuki@yahoo.com
WORLDWIDE LIST OF ARRESTED BANKERS

10/06/11 (HONG KONG) Deutsche Bank Asia, senior banker Yan Shen, 43, who headed the North Asia institutional clients group escaped a prison sentence Thursday after he was found in possession of a gun at Hong Kong's international airport. Yan Shen, was discovered carrying the unlicensed pistol and ammunition during a search of his baggage in the departure lounge of Chek Lap Kok Airport. The offence carries a maximum jail sentence of 14 years, but Shen was spared jail after the court heard he suffered a personality disorder and liked to collect things. Sentencing him to 240 hours of community service and a fine of 50,000 Hong Kong dollars (6,400 US dollars), the judge said he did not accept Yan's excuse that he was unaware it was illegal to possess firearms. However, the judge said he had decided not to jail Yan because prison might interfere wih treatment for his disorder.
http://goo.gl/66aO4
10/11/11 (NIGERIA) Nigeria’s secret police (SSS) Tuesday confirmed the arrest of three persons including a Lagos banker it said facilitated the October 01, 2010, Independence Day bombing in Abuja that killed several persons and injured many others. Media reports had earlier identified the banker as Nonso Nnaemeka, while one of the suspects was identified as Jessica David, aka Segun.
http://goo.gl/ZXeWO
11/01/11 (IRAN) Bank Melli, Mr. Khavari, a dual Iranian-Canadian citizen, left Iran in September as prosecutors there announced they wanted to question him in connection with a $2.6-billion embezzlement scandal that has led to the arrest of several bankers. Tehran also wants an international warrant for Mr. Khavari’s arrest. Canada has no extradition treaty with Iran. Mr. Khavari could be stripped of his Canadian citizenship. The banker’s continuing freedom and apparent wealth – he and his family own several Toronto properties – have angered Iranian diaspora groups. It’s unclear how he could become a Canadian citizen while working in Iran as an elite banker. Khavari is indicative of a much larger wave of people who have slipped into Canada. The Globe and Mail reported Monday that one of several brothers whose family business is at the heart of the Iranian embezzlement scandal moved to Montreal this past summer.
http://goo.gl/otcvi
11/07/11 (UAE - DUBAI) HSBC Analyst, Toby Carroll, Arrested In Dubai With Two Girlfriends For Extramarital Sex
http://goo.gl/7MkTX
11/23/11 (LITHUANIA) Snoras Bank and Latvijas Krajbanka Bank, Lithuania issues Arrest warrant for Russian banker and Portsmouth Football Club (UK) Owner Vladimir Antonov. Antonov, 36, owned 68 percent of Snoras before it was nationalized and had controlled Latvijas Krajbanka through a 60 percent stake owned by Snoras. Antonov is believed to spend most of his time in England, while Baranauskas, who held just over 25 percent in Snoras, is also abroad.100 million lats ($200 million) siphoned from the bank were used to increase its charter capital and finance Antonov's investment projects — including the failed attempt to buy out Saab.
http://goo.gl/nu5p5
11/23/11 (RUSSIA) Bank of Moscow, Russian prosecutors asked Interpol to issue an international arrest warrant for Bank of Moscow’s former Chief Executive Officer Andrei Borodin. Wanted for fraud in the misappropriation of government funds.
http://goo.gl/znvhC
11/23/11 (RUSSIA) Bank of Moscow, Russian prosecutors asked Interpol to issue an international arrest warrant for Bank of Moscow’s former vice president Dmitry Akulinin, a former vice president at the lender. Wanted for fraud in the misappropriation of government funds.
http://goo.gl/znvhC
12/01/11 (ICELAND) Glitnir Bank, Iceland's special prosecutor has taken Larus Welding, the former head of the failed Glitnir Bank, into custody, Reuters reports.
http://goo.gl/KqUN9
2/08/12 (CHINA) Yantai Bank, Chinese police arrest runaway banker Liu Weining, for embezzlement. Liu Weining, a branch head of Yantai Bank, was caught by police near a railway station in eastern city of Jinhua, Zhejiang Province, police said. Liu fled Yantai city in east Shandong Province at the end of January. Liu allegedly stole 436 million yuan (69.76 million U.S. dollars) worth of bank notes between April 2011 and January 2012. He reportedly had 290,000 yuan cash on him when caught.
http://goo.gl/MRnlX
2/14/12 (USA FL) Credit Suisse, Banker Christos Bagios, under U.S. house arrest for 60 more days in the U.S. state of Florida, as the man tries to resolve allegations of aiding U.S. clients in evading taxes. He has to wear a tracking device. Bagios was arrested in New York in January 2011 and accused in a criminal complaint of helping about 150 U.S. clients hide as much as $500 million from the tax-collecting IRS when he worked at UBS. Bagios is a Greek citizen and Swiss resident, and is accused of helping 150 clients evade taxes on about $500 million. Credit Suisse acknowledged last July that it had received a target letter from the U.S. Department of Justice notifying it that it was formally under criminal investigation for selling tax-evasion services to wealthy Americans. The bank has said it is cooperating with the investigation. Bagios was arrested in New York in January of last year but moved to a Florida housing development on $650,000 bond. He has to wear a tracking device.
http://goo.gl/hRlAq
2/16/12 (UK) BTA bank, UK court issues arrest warrant for Mukhtar Ablyazov, Kazakh billionaire accused of massive fraud Britain's High Court has issued an arrest warrant for Mukhtar Ablyazov, the Kazakh billionaire and former BTA bank chairman accused of committing one of the world’s biggest ever frauds.
http://goo.gl/75o7E
2/29/12 (SWITZERLAND) Hyposwiss Privatbank AG, Prosecutors in Switzerland say a man has been arrested on suspicion of stealing confidential customer data from a Swiss private bank. The Federal Prosecutor's office in Bern says the former contractor of Hyposwiss Privatbank AG was arrested Feb. 16 and remains in custody. Prosecutors say a criminal investigation was launched Jan. 19 after the unidentified man approached a law firm and offered to sell the confidential data. They declined to provide further information. Swiss daily Tages-Anzeiger reported Wednesday that the data partly concerned the account of a wealthy Russian businessman. Recent cases of stolen Swiss bank data being bought by foreign tax authorities have added to pressure on Switzerland to give up its strict banking secrecy rules. NOTE: This arrest appears to be an attack on a whistleblower by Swiss authorities!
http://goo.gl/XzaES
3/05/12 (RUSSIA) Vnesheconombank, Moscow City’s Tverskoi district court placed Anatoly Ballo, the Deputy CEO of the Russian development and foreign economic transactions bank Vnesheconombank, under house arrest. He is suspected of embezzling $14 million, a spokeswoman for the court said.
http://goo.gl/czZC4
3/12/12 (USA CT) Morgan Stanley, co-head of fixed-income capital markets William Bryan Jennings, was arrested and charged with second-degree assault, larceny and intimidation by bias or bigotry .
http://goo.gl/6VHu8
3/14/12 (NIGERIA) First Bank Plc, An Abuja High Court on Tuesday issued a warrant for the arrest of the Head of Operations, First Bank Plc, Ikorodu branch, Lagos, Mrs. Ayodele Omolayo. The ICPC maintained that NPC had, in compliance with the directive of the late President Umaru Yar’Adua, issued a cheque of N60m to the Office of the Accountant-General of the Federation as unspent funds for 2007. But upon the receipt of the cheque, the four accused persons paid it into a private account in Ikorodu, Lagos, and later withdrew the money at another bank in Victoria Island, Lagos. Others charged were officials of the Office of the Accountant-General of the Federation; Mr. Johnson Kolawole and Mr. Kola Ajala, a dispatch rider with Finbank Plc, Victoria Garden City branch, Lagos.
http://goo.gl/p4kNY
3/16/12 (CHINA) Standard Charter Bank, China has arrested Wu Yidian Eden, an employee of Standard Chartered Bank, as a probe into one of her clients. On March 6, the police detained Ms Wu, yet the latter has not been accused for committing any crime. A client of Ms Wu has been accused of escaping from China after robbing almost $50m (£32m) from the bank. Standard Chartered Bank announced the detention of Ms Wu but said no investigation has taken place yet.
http://goo.gl/Hxqxs
3/24/12 (RUSSIA) Vladimir Putin issues arrest warrant for George Soros.
http://goo.gl/BP4Rr
3/26/12 (UK) UBS, Trader Kweku Adoboli, 31, arrested on suspicion of a staggering £1.3billion fraud at UBS is believed to have blown the whistle on himself about the unauthorised deals.
http://goo.gl/WSrPd
3/26/12 (CHINA) Agricultural Bank of China, China has launched an international hunt for a former bank chief accused of fleeing with more than 100 million yuan ($16 million) illegally raised from relatives and friends. The Ministry of Public Security has issued an arrest warrant for Sun Feng, the former head of the Yaosai branch of the Agricultural Bank of China in Jiangyin in East China's Jiangsu province.
http://goo.gl/imXmk
3/26/12 (SPAIN) Spanish Mortgage Broker Arrested
http://goo.gl/jASX9
3/26/12 (USA MO) Sun Security Bank, A former employee of Sun Security Bank in Ellington, Missouri, has been sentenced for embezzling $444,000 from a customer's bank account. Black pled guilty in December 2011 to two felony counts of bank embezzlement and was ordered to pay restitution of $451,000.
http://goo.gl/uHxpM
3/28/12 (PHILIPINES) Banker and Ponzi Scammer, Celso de los Angeles, under hospital arrest dies.
http://goo.gl/Vxala

[Sabrina]

Facebook's Global Resignations Site 3rd April:

Worldwide resignations for April 03/02 (direct link to The List: http://tinyurl.com/7fdhsxz )

-> Not a bad catch today, seems it hasn't completely ended!
As always, any suggestions/findings you might have - send them by personal message. Thanks!

- One of London's most prominent bankers for JP Morgan resigns - fined for passing on inside info

- (UK) Chairman of NYSE Euronext's Liffe to step down

- (US) Hampden Bancorp Inc chairman resigns

- (Austria) Raiffeisen Bank (largest Austrian bank) director steps down

- (US) Endurance Specialty Holdings (global insurance) CRO steps down

- (US) Two Goldman Sachs directors step down from board

- (Costa Rica) Finance Minister resigns over tax scandal

- (Serbia) Serbian President resigns

- (US) Northern Virginia Delegate resigns from politics after admitting to extramarital affair

- (UK) Shire Specialty Pharmaceuticals president resigns

- (UK) ECR Minerals (mining investment) chairman resigns

- (UK) *James Murdoch* quits as BSkyB chairman
http://tinyurl.com/c4wny9p

- (Canada) Canadian Natural Resources Ltd (oil & gas) director resigns
15

[Sabrina]

http://www.bizjournals.com/charlotte...-abruptly.html
3 April
Westinghouse CEO resigns abruptly

Our sister paper in Pittsburgh reports strange doings at Westinghouse headquarters where Chief Executive Jim Ferland has resigned just days after taking office April 1.

“The reason for the resignation wasn’t disclosed,” reports Paul Gough of the Pittsburgh Business Times. “But Ferland apparently is going to another job.”

Westinghouse is the developer of the AP1000 nuclear reactor, the first new generation nuclear reactor approved for use in U.S. nuclear plants in the United States in decades. The AP1000 is the reactor for two units being built at Southern Co.’s Plant Vogtle in Georgia and Scana’s V.C. Summer Nuclear Station in South Carolina. It is also the reactor Duke Energy plans to use at its proposed Lee Nuclear Station near Gaffney.

Westinghouse has a growing presence in Charlotte, where it has nuclear engineering facilities. Ferland had been slated to participate in the Charlotte Business Journal’s Energy Inc. conference later this month.

In a press release, Westinghouse says Board Chairman Shigenori Shiga would take over Ferland CEO duties, assisted by Chief Operating Officer Ricardo Perez.
Westinghouse is owned by Toshiba, where Shiga had been an executive.

[foreverfan]

Posted by Maia Gabrial (here)
I'm not buying into it. Arrests mean nothing. Prosecution does.
And compared to all the global criminals and their accomplices, these few resignations mean nothing. But this is a good start....

Err.. you must have arrests to have prosecution.

[Sabrina]

http://www.thisislondon.co.uk/busine...m-7618059.html
4 April
Chinese premier calls for banking reform


Chinese Premier Wen Jiabao took a leaf out of Vince Cable’s book today, calling for the monopoly of state-owned banks in the world’s second largest economy to be broken.

“Frankly, our banks make profits far too easily. Why? Because a small number of major banks occupy a monopoly position, meaning one can only go to them for loans and capital,” the country’s second highest ranking politician said, according to China National Radio. “That’s why right now, as we’re dealing with the issue of getting private capital into the finance sector, essentially, that means we have to break up their monopoly.”

There are some signs that reform is on the way. Last week the government approved reforms in the city of Wenzhou designed to encourage private investment in local banks. However, China’s leadership is set to change in October, when a new Communist Party general secretary and a new premier are due to be appointed. This has prompted some analysts to question whether the financial reforms, which threaten powerful vested interests, will be continued.

China’s banking sector is controlled by four large players, which pay extremely low interest rates on savings and make cheap loans to state-owned enterprises and local governments.

[Sabrina]

http://www.thenigerianvoice.com/nvne...riousness.html
Nigeria 4 April


LAGOS, April 03, (THEWILL) - Barely twenty four hours after a Federal High Court in Lagos discharged former chief executive officer of Intercontinental Bank, Erastus Akingbola on grounds of prosecution deficiencies, another judge of the court, Donatus Okorowo on Tuesday warned the prosecutor of the charges against former Speaker of the House of Representatives, Dimeji Bankole to handle the case with dispatch.

Bankole was charged by the Economic and Financial Crimes Commission (EFCC) on 16 counts of contract fraud.

At the resumed trial yesterday, Justice Okorowo gave the warning after counsel to the EFCC, Oghenovo Otemu, who stood in for Festus Keyamo, asked for an adjournment to enable him assemble witnesses. Otemu had earlier informed the court that lead counsel for EFCC, Keyamo was unwell and could not make it to court.

Opposing the application for adjournment, Bankole's Counsel, Olawale Akoni (SAN) argued that the prosecution had no urgent reason to seek an adjournment. He said that although his client was on bail, his freedom was still at stake, and conducting the trial in instalments would infringe on his liberty. He asked the court to limit the time within which prosecution could complete its case.

But Justice Okorowo said it would be wrong for the defence to stampede prosecution, as being hard on them would give an impression that they were not being denied the chance to present their case.

He however said it was not in the interest of justice for prosecution to hold the case for too long, and advised that they discuss with EFCC for appropriate prosecution of the matter. He also warned that he would not tolerate incessant adjournments. The case has been adjourned till May.

¤=[Post Update]=¤

Serbia president likely resign on Wednesday
04 April 2012 | 10:09 | FOCUS News Agency
Home / Southeast Europe and Balkans
Belgrade. It is possible for Serbian President Boris Tadic to hand in his resignation on Wednesday, The Echo of Moscow reports, citing Serbian B92 Radio.
Sources of the media announce that the president has informed his closest alleys about the move.
Analysts expect Boris Tadic to run for president again in order to boost the rating of his party – the Democratic Party, at the parliamentary elections.
If the president resigns now, the presidential and parliamentary elections in Serbia could be held on one day – May 6.

¤=[Post Update]=¤

Dost Muhammad Khosa submits resignation
- 4th April 2012 Pakistan
By Farrukh Shabbir
The Provincial minister of commerce and trade, Dost Muhammad Khosa has announced his resignation from the provincial ministry.

¤=[Post Update]=¤

IAM Global Long/Short Equity Strategy Fund Ltd. (the "Fund")
4 April London Stock exchange

Re: Resignation of Director

The Board of Directors of the Fund (the "Board") wishes to announce that Albert Fuss has resigned as a director of the Fund with effect from 30 March 2012.

[Sabrina]

http://www.zerohedge.com/news/hope-f...rader-arrested

Hope Fades As London 'Superstar' FX Trader Is Arrested

How the self-described 'mighty' have fallen. It was a month ago when we first heard of this mysterious British FX trader who dropped $300k in a Liverpudlian nightclub on a bottle of champagne that weighed more than the models he was 'dating' that night. The 'talented, charismatic, and likable' Alex Hope has been arrested by London's Financials Services Authority (FSA) in connection with an investigation into a suspected unauthorized FX trading scheme. As City A.M reports this morning, Hope's publicist confirms he is the 23 year old in question - though he 'obviously' denies all allegations. The schadenfreude on London's FX 'trading' desks (as opposed to bucket-shop retail-mauling FX 'brokerage' shops) is palpable from what we hear as 'it couldn't have happened to a nicer guy' echoes off the City's pub ceilings. As yet no charges have been filed - we await with baited breath for the sad truth to be outed.

[Sabrina]

http://www.thisislondon.co.uk/busine...r-7618653.html
4 April UK
Former Lloyds boss quits as BT director

Former Lloyds Banking Group boss Eric Daniels, who presided over the disastrous merger with HBOS, has quit as a non-executive director of telecoms giant BT.

Daniels leaves the £76,000-a-year post after just four years.

The American came under fire at Lloyds after it was bailed out by the taxpayer and some of his bonus was clawed back over payment protection insurance mis-selling.