Money, Wealth & Power—A Daily Look at the Financial World
The discovery of 890 Nazi-linked accounts at Credit Suisse has shattered long standing assurances that the bank’s role in the Third Reich’s finances was limited and well understood. Instead, a fresh probe has exposed a deeper, more troubling web of relationships that extended into the postwar era and helped key figures in the Nazi apparatus…
Immigration and Customs Enforcement has long relied on private companies to build its digital and physical infrastructure, but that relationship is starting to fray in ways that reach far beyond public boycotts. Under pressure from shareholders, employees, and foreign regulators, global firms are quietly restructuring, spinning off units, and rerouting investment to distance themselves from…
The French technology group Capgemini is moving to sell a U.S. subsidiary that helped Immigration and Customs Enforcement track migrants in real time, a divestment that lands at the intersection of European corporate ethics and American immigration enforcement. The decision follows mounting scrutiny of how commercial data brokers and analytics firms quietly power the federal…
Prosecutors in Upstate New York say a trusted finance executive turned a family electrical business into his personal bank account, siphoning off more than $4 million over five years. The former Chief Financial Officer of an Albany firm is now accused of orchestrating a sprawling embezzlement scheme that allegedly touched everything from company checks to…
A Detroit jurist entrusted with safeguarding people who could not care for themselves is now accused of looting their estates to bankroll liquor tabs and a luxury SUV. Federal prosecutors say nearly $300,000 meant for incapacitated and vulnerable individuals was siphoned off and spent on a bar, high-end car payments, and other personal indulgences. The…
Millions of low income households are bracing for a sweeping overhaul of food assistance that experts say could sharply cut off access to groceries and deepen hunger across the country. The Trump administration’s new work rules for the Supplemental Nutrition Assistance Program are arriving at the same time that a massive funding reduction is baked…
New York’s long running Bay Ridge condo scandal has reached a turning point, with a court ordering landlord Xi Hui “Steven” Wu to repay more than $4.2 M to the immigrant families he deceived. The ruling forces the man who “sold” nonexistent or illegal apartments to finally return $4.2 Million, plus interest, to buyers who…
President Donald Trump’s threat to restore tariffs on South Korean imports to 25 percent has collided head‑on with Seoul’s aggressive regulatory campaign against a major U.S. tech firm, turning a technical trade dispute into a broader test of political leverage. What began as a fight over delayed ratification of a trade deal and new digital…
President Donald Trump’s decision to seize and rapidly sell Venezuelan oil after the military capture of President Nicolás Maduro has detonated a political fight over who really controls the money and whose interests are being served. What began as a dramatic foreign policy move is now colliding with basic questions of transparency, legality, and personal…
Tiny firms that once chased down cheating spouses or missing relatives are now landing lucrative federal deals to help track undocumented immigrants. Under President Donald Trump, immigration enforcement has quietly opened the door to a new class of contractors, turning small private investigators and data brokers into key players in a national hunt for people…