According to Bloomberg, the fines recommended by a Miami jury on 87 year-old Carl Zwerner, which is 150% of his Swiss bank account for failing to file a Report of Foreign Bank and Financial Accounts,was excessive considering that it was a civil case.
Former chairman of American International Group Inc Maurice "Hank" Greenberg has lost a bid to dismiss the case filed by the state of New York against him and another ex-officer of the insurance company when a state Supreme Court judge allowed the lawsuit to proceed yesterday.
Assistant US Attorney Arlo Devlin-Brown said in a letter to judge Brenda P. Murray yesterday that the administrative proceeding of SAC Capital Advisors LP founder Steven A. Cohen should be on hold until all criminal cases of his employees have been resolved.
In what seemed to be yet another form of censorship of free speech, the official Xinhua News Agency said that the Chinese government has launched a crackdown on mobile messaging platforms like WeChat to curb rumors and other information related to terrorism, violence and pornography.
