Phoenix probed for fraud

Article Abstract:

Phoenix Kapitaldienst GmbH, a brokerage firm of Frankfurt, Germany is being investigated for securities fraud by German authorities. Assets may have been misstated by as much as $1.1 billion and could be one of the biggest cases of investment fund fraud in Europe.

Europe, Germany

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Russia renews pressure on Hermitage fund

Article Abstract:

Moscow police allege that a Russian employee of a Hermitage Capital Management Ltd. affiliate did not withhold $44.2 mil in taxes that were owned on dividends paid to the affiliate's Cyprus parent.

Taxes, Russia, Parent-to-subsidiary activities, Subsidiary-to-parent activities, Capital funds & cash flow, Taxation, Accounting and auditing, Tax evasion, Subsidiaries, divisions and units, Hermitage Capital Management

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Eurex identifies unusual trading in some futures

Article Abstract:

Eurex of Germany through an internal audit has realized some unusual futures trading activity last month. Details of the derivative trades will be sent to Bafin, the German regulator.

Switzerland, Eurex Frankfurt AG

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