FINCOMTECH

  US federal prosecutors are calling for ex-Binance chief Changpeng Zhao to be sent to prison when he appears Tuesday for sentencing on money laundering charges. Zhao, a Canadian, resigned from his post at the world’s largest cryptocurrency exchange platform late last year as part of a deal with US authorities. In investigations by two Treasury agencies, Binance failed to prevent transactions by movements such as the Islamic State group, al-Qaeda or the armed wing of Hamas. Zhao pleaded guilty to violating US anti-money laundering laws and Binance agreed in February to pay $4.3 billion to settle charges. Prosecutors want a judge to make Zhao pay a $50 million fine and spend three years behind bars for a crime that typically results in probation, according to a court filing. “He made a business decision that violating US law was the best way to attract users, build his company, and line his pockets,” Justice Department lawyers said of Zhao in a sentencing memorandum. “Th...

    Fast Credit Limited Fast Credit Limited (FCL) is licensed by the CBN to provide financial services. FCL commenced its operations in August 2014, offering various investment and loan products to both public and private sector employees and small and medium-sized enterprises. The company recently launched digital banking channels such as its mobile app and USSD service, through which it offers micro and nano loans to Nigerians. Baines Credit Microfinance Bank Limited Baines Credit Microfinance Bank is a financial institution licensed by the CBN. The company says it is committed to solving all the financial needs of salary earners, micro, small, and medium-scale enterprises (MSMEs), and other corporate sectors. The company offers quick digital loans and salary advances for salary earners. Greenbond Finance Company Limited GreenBond Finance Company Limited is a CBN-licensed finance company whose core objective is to provide permissible financial services to individ...