Barclays Pulled Into Major Money Laundering Probe, BlackRock's Fink Sells $15m in Stock

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Barclays has been dragged into an international money laundering investigation after U.S. prosecutors discovered that Arthur Budovsky, the founder of digital currency exchange Liberty Reserve, held an account with the bank.

Reuters reports that U.S. prosecutors have filed an indictment against the operators of Liberty Reserve, accusing the Costa Rica-based company of helping criminals around the world launder more than $6bn in illicit funds linked to everything from child pornography to software for hacking into banks.

'Barclays can confirm it is co-operating with the investigation, following the notification it received from the authorities', a spokesman for the bank said on Sunday.

Barclays pulled into U.S. money laundering investigation

In the meantime, Bloomberg reports that BlackRock's CEO Larry Fink has sold 52,616 shares of the firm, according to a regulatory filing.

Fink, who co-founded BlackRock in 1988, sold 3,666 shares on average valued at $286.08 and 48,950 shares valued at $285, the New York-based firm said in a filing with the U.S. Securities and Exchange Commission. He still holds 1.28 million shares.

BlackRock's Fink Sells More Than 52,000 Shares of Firm

image: © Dick Johnson

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