October 23, 2021

Endowments boom as [US] colleges bury earnings overseas

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By STEPHANIE SAUL From New York Times American universities are using offshore strategies to swell their coffers, skirt taxes and obscure investments that could spark campus protests. In 2006, the endowments of Indiana University and Texas Christian University invested millions of dollars in a partnership, hoping to mint riches from oil, gas and coal. The […]

US Treasury rules FBME ‘still a money laundering concern’

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BY THE GUARDIAN REPORTER From IPP media The US Treasury`s Financial Crimes Enforcement Network (FinCEN) has issued a final ruling confirming the Tanzanian-headquartered Federal Bank of the Middle East (FBME) as an institution of “primary money laundering concern.” The Bank of Tanzania (BoT) placed FBME under statutory management in 2014 after the United States Treasury […]