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Tag: case

HSBC to pay $765m to settle toxic mortgage case

HSBC to pay $765m to settle toxic mortgage case

Business
HSBC has agreed to pay $ 765m (£588m) to the US Department of Justice (DoJ) to settle a probe into the sale of mortgage-backed securities in the run-up to the financial crisis. It is the latest bank to settle claims of mis-selling toxic debt before the financial crisis.HSBC has paid a lot less than the Royal Bank of Scotland, which agreed to pay $ 4.9bn in May and Barclays' $ 2bn settlement with the DoJ in March.It had already set aside $ 897m in the first quarter for any potential settlements.The bank warned the "settlement-in-principle is subject to negotiation" and there was no "assurance that HSBC and the DoJ will agree on the final documentation".Europe's biggest bank made the announcement as it delivered a 4.6% rise in pretax profit for the first six months of t...
Harvey Weinstein seeks to dismiss case based on accuser's emails

Harvey Weinstein seeks to dismiss case based on accuser's emails

World
Hollywood producer Harvey Weinstein is seeking to get the criminal case against him thrown out of court. On Friday, his lawyers filed a defence motion citing dozens of "warm" emails they say Mr Weinstein received from one of his accusers after an alleged rape.His team argue prosecutors should have shared the evidence with the Grand Jury that indicted him. Mr Weinstein has pleaded not guilty to six charges involving three different women. The accuser in question has retained her anonymity. Mr Weinstein's lawyers say the case should be dismissed in its pre-trial stage, saying there had been a series of failings. Other objections included a lack of details on the timeline of an alleged assault in 2004, and the lack of advance warning from the District Attor...
Mallya case: ED using fugitive law may hit lenders' prospects

Mallya case: ED using fugitive law may hit lenders' prospects

Finance
The Enforcement Directorate (ED) may use the latest weapon in its armoury — the Fugitive Economic Offenders Ordinance — to deal with Vijay Mallya, a move that could hurt lenders’ efforts to recover dues from the businessman who fled the country more than two years ago. ED sources said the new fugitive law gives precedence to state dues over any claims under civil cases, including Mallya’s application to the Karnataka High Court seeking permission to repay banks by selling his assets seized by the agency that probes money-laundering cases. Indian banks are working closely with UK authorities to recover the maximum out of the assets owned by Mallya, after a British court allowed them to search and seize his properties. They are worried because the ED could stake claim on Mallya’s
Graham Spanier, ex-Penn State president, loses appeal in Jerry Sandusky case

Graham Spanier, ex-Penn State president, loses appeal in Jerry Sandusky case

Sports
Graham Spanier, former president at Penn State University, lost an appeal of his misdemeanor conviction for child endangerment over his handling of a 2001 complaint about Jerry Sandusky showering with a boy in the football team locker room. Sandusky was a long-time Penn State football assistant who is serving a 30-to-60-year sentence for 45-count child sexual abuse conviction. A Superior Court in Harrisburg, Pa., rejected Spanier's claims that too much time had passed to charge him, that he was not legally obligated to care for the boy and should not have been charged because he did not supervise children directly. "To hold that (he) was not supervising a child's welfare when he oversaw PSU's response to the Sandusky allegations, or to hold that he owed no duty of care in his exercise...
Lawyers: Case against 2 in murder of N. Korean scion feeble

Lawyers: Case against 2 in murder of N. Korean scion feeble

World
Circumstantial evidence against two women accused of poisoning to death the estranged half brother of North Korea's leader is feeble, the women's lawyers told a court on Wednesday, as they urged the judge to acquit their clients. Siti Aisyah, 25, of Indonesia and Doan Thi Huong, 29, of Vietnam are accused of smearing the banned VX nerve agent on Kim Jong Nam's face in a crowded airport terminal in Kuala Lumpur on Feb. 13, 2017. The women, who face the death penalty if convicted, have pleaded not guilty, saying they thought they were taking part in a harmless prank for a hidden-camera show. They were charged with colluding to murder Kim with four North Koreans who fled the country on the day of the incident. The crux of the case revolves around whether the women intended to kill Kim or if...