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asset seizure

Alleged fraud on serviceman's fund is said to have netted USD11m

A man who, through a corporate entity, operated off-street parking schemes on premises owned by a fund to raise money for former servicemen has been arrested after an investigation discovered that he, allegedly, failed to account to the fund for as much as USD11 million over a period of years.

AML / CFT: US reclaims USD230 million from offshore fund

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The USA's Securities and Exchange Commission is, understandably, delighted: yesterday, it told a Court that USD230 million held in an offshore account in the name of a fund under investigation as a possible ponzi scheme has been transferred to the SEC pending the conclusion of investigations against Highview Point Partners and the operators of the fund.

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Asset freezing: Libya's Gadhafi and related parties

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Authorities in the UK and Switzerland are taking steps to freeze bank accounts and other assets owned or controlled by or connected to Libya's Colonel Gadhafi, his relatives and associates.

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