Switzerland’s attorney general opened a criminal probe of UBS AG after a complaint filed by Bruno Manser Fund, a rain-forest advocacy group, that alleged a Malaysian politician used UBS accounts to launder money.
Hreidar Mar Sigurdsson, the former chief executive officer of Kaupthing Bank hf, was arrested after an investigation into the collapse of Iceland’s largest bank, two people familiar with the probe said.
A U.S. investigation of possible insider-trading by Goldman Sachs Group Inc. employees expanded to include a managing director whose name emerged at the trial of convicted hedge fund manager Raj Rajaratnam, a person with knowledge of the probe said.
Switzerland so far has frozen almost $700 million belonging to former Egyptian President Hosni Mubarak and his family after discovering additional funds, 20 Minuten Online reported, citing Jeannette Balmer, spokeswoman for the Federal Attorney General’s office.
SNC-Lavalin Group Inc.’s biggest shareholder said directors provided inadequate oversight before a probe of incorrectly booked payments led to the chief executive officer’s resignation and a former vice president’s arrest at Canada’s largest engineering company.
Chancellor Angela Merkel’s government will seek to win approval for a German-Swiss tax treaty after Swiss prosecutors issued an arrest warrant for three German tax investigators on charges of economic espionage.