#Banking and Financial Criminal Law:
Money laundering: new fine for online bank N26
The German banking supervisor, Bafin, has imposed a fine of €9.2 million on N26, the neo-bank created in 2013. The latter is accused of having made in 2022 several late declarations of suspicion of money laundering. N26 states that corrective measures have since been put in place to improve the declarations process. The bank was already under supervision since 2021 when it was fined €4.25 million for defaults in its anti-money laundering system. N26, which has ambitions to be listed on the stock market, is also limited to 50.000 new customers per month to limit the risks associated with its growth. > Read article
#White collar crime:
Suspicions of favoritism: EDF and its former CEO Henri Proglio on trial
French public electricity company EDF, its former CEO Henri Proglio and twelve other persons are on trial in Paris for favoritism. The former executive is accused of having concluded privately over 40 consulting contracts between 2010 and 2016, on behalf of EDF, for a total amount of 22 million euros, while the National Financial Prosecutor (Parquet National Financier) considers these contracts, concluded with communicants, lawyers, journalists, former political figures or head of companies, should have been the subject of a call for tender. Henri Proglio says he acted as in his former functions in private companies and that EDF’s legal department did not alert him on the necessity of a call for tender. He faces two years of prison and a fine of 200.000 euros. > Read article
Soccer: Messi, Piqué and Rubiales suspected of attempting to embezzle UEFA funds
A Spanish media declared being in possession of documents demonstrating the involvement of football players Lionel Messi and Gérard Piqué in a potential case of embezzlement. During the covid crisis, the two former FC Barcelona team-mates are said to have shared their concerns about the club’s wage cuts with the president of the Spanish Football Federation. The latter is said to have suggested to the president of UEFA, that he should use the European football organization’s funds to compensate the two players for their financial losses. It is however not indicated if the operation was completed. > Read article
#Criminal tax law:
Marseille: an LR municipal councilor tried in September in a fraud case
The former vice-president of the departmental council and municipal councilor Sylvie Carrega and her husband will appear next September before the Marseille Criminal Court on charges of fraud and forgery. The case was initiated by a member of their political party which filed a complaint against them, accusing the couple of asking him to get a 52.000 euros loan in his name, for their own use, but claims he was never reimbursed. > Read article
