Category: Scandal
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THORChain Faces Crisis as Key Developer Steps Down Amid North Korean Scandal
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A developer of Thorsin, known as Pluto, has Declare His departure from the decentralized liquidity protocol following a controversial decision related to the transactions associated with North Korea. The controversy appeared after a vote by the network’s health to prevent these transactions, which was quickly transferred, raising concerns about the…
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Close Brothers sets aside £165m amid car loan commission scandal
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Close Brothers announced that it will allocate up to 165 million pounds in its accounts in the first half to cover the potential costs of the law and compensation related to the scandals of the growing car financing committee. The FTSE 250 Looring revealed the ruling on an unprecedented update,…
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South Korean Lawmaker Cleared in High-Profile Crypto Scandal
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The South Korean legislator, Kim Nam Cook, was recently cleared of allegations that he had “concealed” the descendants of encrypted currency. The issue focused on whether the South Korean laws at the time of the alleged concealment require him to declare his property. According to the latest a report One…
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Logan Paul’s New Crypto Scandal: Misleading Fans For Profit
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American YouTuber and boxer Logan Paul is facing backlash again after being accused of misleading his fans about cryptocurrency investments. New evidence shows that Paul apparently promoted the tokens without admitting that he had a financial interest in them, earning more than $100,000 in the process. YouTuber profits from misleading…
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Moody’s warns car finance scandal could cost lenders £30bn
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A growing scandal over mis-sold car financing could leave lenders facing compensation bills of up to £30bn, according to a warning from leading credit rating agency Moody’s. This estimate is the highest to date and raises concerns that the issue may mirror the Payment Protection Insurance (PPI) debacle, which ultimately…
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Could motor finance become the next PPI scandal?
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The UK car finance industry could be heading towards a financial storm reminiscent of the Payment Protection Insurance (PPI) scandal. A recent appeals court ruling held car dealerships and lenders liable for not disclosing commissions to customers, a precedent that could unleash billions in damages claims. For decades, the PPI…
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Doubts grow over release of long-awaited HBOS scandal report as Lloyds resists full disclosure
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An independent review into whether Lloyds Banking Group concealed a £1bn fraud linked to HBOS may not be fully disclosed, sparking accusations that the bank “cannot face the truth”. The review, led by Dame Linda Dobbs, examines Lloyd’s response to a fraud scandal at the Reading branch of HBOS. The…
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Ethereum Scandal? Buterin Denies Allegations Of ‘ETH Dumping’
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In an impassioned response to allegations that the Ethereum Foundation irresponsibly sold off its ETH holdings, co-founder Vitalik Buterin strongly denied the accusations against X. In an explanation, Buterin provided detailed insights into the foundation’s financial practices and contributions to the ecosystem. The controversy arose after User Buterin quickly turned…
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Trump to visit North Carolina as scandal swirls around Republican ally By Reuters
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By James Oliphant (Reuters) – Republican presidential nominee Donald Trump’s campaign said his party’s candidate for governor of North Carolina, who faces a tough race, will not join him when he visits the key electoral state on Saturday. Trump had previously endorsed Mark Robinson, the subject of an explosive CNN…
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Major corporations return to CBI as lobby group rebuilds after misconduct scandal
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The Confederation of British Industry, which faced a mass exodus of members and severe financial difficulties after the allegations emerged in April 2023, has taken major steps to restore its standing. The group has cut a third of its staff, closed its international offices and overhauled its management structure. These…
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Mozambique ex-finance minister convicted in US over ‘tuna bonds’ scandal By Reuters
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By Luke Cohen NEW YORK (Reuters) – Mozambique’s former finance minister was convicted on Thursday on U.S. criminal charges over his alleged involvement in a fraud involving $2 billion in loans to three state-owned companies to develop the African nation’s fishing industry. A jury convicted Manuel Chang of conspiracy to…
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Over 30 Chinese firms cut ties with PwC amid Beijing’s pressure over Evergrande scandal
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PricewaterhouseCoopers has seen a major loss of major clients in China after pressure from Beijing, which has urged state-owned companies to cut ties over the firm’s involvement with troubled property developer Evergrande. Over the past few months, China’s Ministry of Finance has issued “enforceable guidance” – informal verbal instructions –…
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How fertiliser imports fell 66 percent ahead of scandal
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Kenya has cut its fertilizer imports by about three-quarters ahead of this year’s main planting season, which has been marred by reports of fake inputs, official figures show, threatening to reverse the country’s gradual improvement in food security. It is estimated that nearly 143,569.5 tons of chemical fertilizers were shipped…
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Toyota shareholders demand vote against chairman Toyoda as automaker embroiled in testing scandal
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Breadcrumb links BMN Business Article writer: Associated Press Yuri Kageyama Posted on June 15, 2024 • 4 minutes read You can save this article by registering for free here. Or log in if you have an account. Article content TOKYO (AP) — Toyota Chairman Akio Toyoda will face some disgruntled…