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Coinbase, Nawaz Sharif, and Uber (again)

Katherine O'Hara | August 11, 2017

In case you missed it this week, Uber's former CEO is going to have a hard time paving his way back to his old job, former PM Nawaz Sharif is under fire for lying about his income, and Coinbase reaches unicorn status.



Mexico is taking the sanctions and soccer spotlight. This week OFAC sanctioned Mexican soccer legend and all-around hero, Rafael Márquez, for allegedly fronting a money-laundering scheme for the drug cartel run by Raúl Flores Hernández. A multi-year investigation involving several U.S. and Mexican agencies linked Márquez and 21 others to the vast network run by Hernández.

FW: FW: RE: Fraud. E-mails are a sore spot for people, with things like cyber attacks in the news and leaks about controversial email chains. But this week a sketchy subject line tipped off investigators to an alleged fraud scheme linked to hundreds of millions in unpaid loans. The like: ““VERY CAREFUL -- DO NOT FAT FINGER FORWARD.” Subtle.

Sue-ber. Uber and Travis Kalanick can’t seem to stay out of the limelight. The former ride-share CEO is being sued by one of their largest (and longest-standing) investors for fraud. Apparently they aren’t crazy about how Kalanick padded his boardroom with people who’d keep things like sexual harassment suits under the radar while he “increased his power over Uber for his own selfish ends."

Risky business. An ex-investment bank VP has pled guilty to insider trading. 42-year-old Avaneesh Krishnamoorthy got the inside scoop about an advertising tech company being acquired by a private equity firm, and decided to dabble with their stocks. Prosecutors say he made about $48,000 from the trades.

Sextuple dipping. Recently-ousted PM Nawaz Sharif has been avidly protesting claims that he took any cash money from his son’s company. But that doesn’t seem to be 100%—new documents recently emerged, and it looks like Sharif may have taken 6 different salaries in 2013.

All your Coinbase are belong to us. This week Coinbase, an exchange for digital currencies like Bitcoin, raised a cool $100m in funding. Now company's value is more than $1 billion, giving it unicorn status. Get that money.



Thanks for reading! Keep your eyes glued to this column for another roundup of the latest news from the wider world of compliance. And as always, please send any questions, comments, or leads to katherine.ohara@complianceweek.com.