FinCEN Files: Investigation into Dirty Money Transfers from Major Global Banks

At least $ 2 trillion in suspicious transactions were carried out between 2000 and 2017 by several major global banks. This is what an investigation by the International Consortium of Investigative Journalists, made up of 400 journalists from the media in 88 countries, including the investigation units of Radio France and the newspaper Le Monde, reveals.
For their investigation, ICIJ journalists were able to obtain "suspicious activity reports". These are top-secret documents that US bank internal compliance officials send to US financial intelligence agencies when they detect questionable money transfers.

According to these documents, 2,000 billion dollars in suspicious transactions may have been carried out. It is dirty money linked to drugs, corruption, organized crime and terrorism.

Large banks are singled out like JP Morgan, Deutsche Bank, Bank of New York Mellon or HSBC. They ensure, however, that they make significant efforts to combat financial crime an…

Elon Musk authorized to pocket $ 775 million in pay

In light of Tesla’s good financial performance, the American financial market authorities authorize the firm to grant its chief executive a first batch of stock options, which will allow Elon Musk to pocket nearly $ 775 million. The compensation plan, started in 2019, plans to allocate 20.3 million Tesla shares to Musk over the next ten years.

Elon Musk authorized to pocket $ 775 million in pay

The eccentric boss of Tesla (and SpaceX) may soon add nearly $ 775 million to his personal fortune. It is not a salary per se - Musk does not receive any - but rather a compensation program indexed to the automaker’s financial performance. As Le Monde notes, the American financial markets authority, the SEC, has just authorized Tesla to access a new package of stock options given the firm's good performance. "One of the milestones in (annual) revenues of $ 20 billion and market capitalization of $ 100 billion (over a given period) has been reached and authenticated by the board of directors," said Tesla.

As a result, Elon Musk can ask to pocket a first package of 1.69 million Tesla shares, at a favorable price of $ 350.02 per share. With the share price rising to $ 805.81 a unit at the latest Wall Street close, this will allow the firm’s boss to pocket nearly $ 774.84 million in profit. This stock option compensation plan, announced in 2018, plans to grant 20.3 million Tesla shares to Musk over the next ten years, which represents approximately $ 56 billion. The firm’s co-founder also benefits from 18.5 percent of Tesla’s capital, which would represent more than $ 24 billion, according to FactSet.




In addition to Tesla's good financial performance, Elon Musk is literally in the middle of the storm with SpaceX. The firm unfortunately had to cancel its historic launch of American astronauts to the ISS, originally scheduled for Wednesday, due to bad weather. Given the conditions, the aerospace engineers and NASA preferred not to risk it, and postponed the launch to Saturday May 30 at 9:22 p.m. French time.

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