More on Commonsenseja due diligence on EWC

Energy World Corporation (EWC) the parent company of Energy World International (EWI) is doing business with another bank known as Standards Chartered bank, which has operations in Singapore, South Korea, Britain, New York, China among other countries.

 

In 2012 however Standard Chartered Bank has found itself with Bank Regulators in New York USA over a secret deal it had with Iran, which allowed billions of dollars of tainted funds to flow thorough the bank.

Standard Chartered reaches $340 million settlement over Iran

(Reuters) – Standard Chartered Plc will pay $340 million to New York’s bank regulator over transactions linked to Iran, in a speedily arranged deal likely to cheer its shareholders.

The deal with New York Superintendent of Financial ServicesBenjamin Lawsky still left the British bank facing a separate probe of Iran-linked transactions by other U.S. authorities.

http://www.reuters.com/article/2012/08/14/us-standard-chartered-probe-idUSBRE87D0B520120814

 

More

South Korean financial regulators will investigate the Seoul branches of Standard Chartered and HSBC in light of money laundering allegations against both banks by regulators in the US.

http://www.ft.com/cms/s/0/a1f6d2b4-e1ed-11e1-b3ff-00144feab49a.html#axzz2sJQhtA7y

 

Now I am not suggesting any wrong doing on the part of EWC, but it’s two main banks seem to get involved in deals, which are now always above board.

 

 

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