Money, Wealth & Power—A Daily Look at the Financial World
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…
California Governor Gavin Newsom has escalated his clash with the Trump administration by filing a civil rights complaint accusing Dr. Mehmet Oz of targeting Armenian Americans in a video about alleged hospice and home health fraud. At the center of the dispute is a recording in Los Angeles that ties a neighborhood bakery and other…
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…
Minnesota is purging hundreds of Medicaid providers from its rolls in an aggressive attempt to root out fraud and waste, a campaign that now touches everything from home care agencies to disability supports. The state insists that most patients will not lose access to care, but the sheer scale of the crackdown has many Minnesotans…
The betrayal at the heart of the Colombian ATM laundering case is not measured in the size of the payoff but in the access it bought. A junior banker in Florida allegedly traded his integrity for modest bribes, and in doing so helped criminal groups move $5.5 Million out of a U.S. institution and into…
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…
Kazakhstan’s role in policing cross-border dirty money is under sharper scrutiny as regional financial flows shift around sanctions on Russia and long-standing laundering techniques. Reports of a $14 billion Russia-linked laundering ring being dismantled in a major operation remain unverified based on available sources, but the broader context is clear: the country sits at the…
German authorities have launched an aggressive money laundering investigation into Deutsche Bank, sending police and prosecutors into multiple offices of Germany’s largest lender and putting its compliance culture back under the spotlight. The coordinated searches, which hit key sites in Frankfurt and Berlin, mark the latest clash between the bank and regulators over how it…
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…