By Jeff Dale2023-08-15T20:59:00
Freedom Holding Corp. was accused of “brazen sanctions evasion,” along with openly flouting anti-money laundering and know your customer regulations, as part of an investigative report published by short seller Hindenburg Research on Tuesday.
Founded in 2008, Freedom was previously based in Russia until it moved its headquarters to Kazakhstan. Following Russia’s invasion of Ukraine, the financial services firm in October 2022 sold its Russian business to Maxim Povalishin, its deputy general counsel and member of the board, for approximately $140 million.
However, Freedom’s founder and chief executive, Russian-born billionaire Timur Turlov, still secretly controlled its Russian entities, according to Hindenburg’s report.
2024-03-25T19:48:00Z By Jeff Dale
Data center owner Equinix disclosed it launched an independent investigation to review matters referenced in a recent short seller report that also caught the attention of the Department of Justice.
2023-09-19T20:42:00Z By Jeff Dale
The Securities and Exchange Commission announced charges against New York-based Concord Management and its owner for operating as an unregistered investment adviser to a lone client: a sanctioned Russian oligarch.
2023-08-31T15:09:00Z By Kyle Brasseur
U.K.-based foreign exchange service Wise Payments was cited for breaching the country’s sanctions levied against Russia as part of the Office of Financial Sanctions Implementation’s first use of its disclosure enforcement powers acquired last year.
2025-07-18T16:33:00Z By Aaron Nicodemus
A brokerage and investment firm will pay $11.8 million for providing services to individuals under U.S. sanctions, as well as people located in countries sanctioned by the U.S.
2025-07-09T14:31:00Z By Aaron Nicodemus
A Connecticut-based audio electronics company will pay a $1.4 million fine for violating U.S. sanctions, after middle managers at a foreign distributor knowingly diverted the company’s products to Iran.
2025-07-02T20:31:00Z By Aaron Nicodemus
A Delaware logistics company paid a $608,825 fine for violating U.S. sanctions on Cuba, a breach that the company self-disclosed to the U.S. Treasury’s Office of Foreign Assets Control (OFAC).
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