Dubai-Based wall street exchange agrees to pay more than $9.2 million to resolve bank fraud investigation

Jan. 22, 2025 — John J. Durham, United States Attorney for the Eastern District of New York and Harry T. Chavis, Jr., Special Agent in Charge, Internal Revenue Service Criminal Investigation, New York (IRS-CI) announced today that Dubai-based Wall Street Exchange (WSE) entered into a non-prosecution agreement (the NPA) on Jan.19, 2025 with the United States Attorney’s Office for the Eastern District of New York (the Office) and the Department of Justice’s Money Laundering and Asset Recovery Section (MLARS), and has agreed to pay more than $9 million to resolve a bank fraud investigation into false statements that it made to a U.S. financial institution concerning the anti-money laundering compliance of WSE and its United Kingdom (U.K.)-based subsidiary, Wall Street Forex London Limited (Forex).  Read More