
Trader Fighting Insider Dealing Blocks US Extradition at UK Top Court
A trader accused by the US of making nearly $2 million from insider dealing won a last ditch attempt at the UK Supreme Court to block his extradition, after the country's top judges ruled that the alleged wrongdoing took place outside the US.
Joseph El Khouri, who holds dual Lebanese-British citizenship and lives in London, was facing criminal charges that he traded on inside information. US prosecutors alleged that the trader, and avid poker player, gave lavish gifts to middlemen, including expensive hotel stays in New York, and a charter yacht in Greece, in exchange for tips as part of an international insider trading conspiracy.

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37 minutes ago
- Yahoo
French ad giant threatens to sue British rival over ‘falsehoods'
A French advertising giant has threatened to sue WPP after accusing the British company of spreading 'falsehoods' about its business. The Telegraph has learnt that Publicis Groupe wrote to Mark Read, the WPP chief executive, last week threatening legal action in an escalating row over advertising quality. One source described the letter, which was also sent to Philip Jansen, the WPP chairman, and Brian Lesser, the WPP Media boss, as 'aggressive'. It was sent days before WPP lost its $1.7bn (£1.3bn) Mars contract to Publicis and before the London advertising giant announced Mr Read would step down as chief executive at the end of the year. The row relates to a research report commissioned by WPP that accused Epsilon, a marketing technology company owned by Publicis, of selling low-quality advertising spots. The report, which WPP distributed among clients, including Mars, found that more than a quarter of 500,000 sample impressions came from so-called 'made for advertising sites', which are built primarily to drive advertising clicks. The research, first reported by Ad Age, prompted a furious response from Publicis, which branded the results 'fake'. The company said: 'We don't normally respond to [WPP's] desperate moves, as it doesn't help our industry ... But in the face of such obvious falsehoods, we can't stay silent. 'WPP continues to claim innovation, this time by inventing their own 'audits' of their competitors. They're doing it in a domain where they've recently excelled – throwing mud at their peers rather than focusing on their clients and their people.' WPP said: 'WPP Media is committed to quality and accuracy in everything we do. Our analysis was used to brief client leaders in response to client questions. 'We used a robust methodology grounded in established industry principles and designed to provide an objective assessment of inventory quality. We stand by the integrity of our methods and the findings presented.' WPP and Publicis both declined to comment on the letter. The row underscores the increasingly bitter rivalry between the two groups as the advertising industry grapples with an uncertain future in an era dominated by technology giants such as Meta and Google, as well as the rise of artificial intelligence. Tom Denford, the chief executive of ID Comms, said the row was 'indicative of the state of the industry and the pressure on these organisations'. Paris-based Publicis, which owns agencies including Saatchi & Saatchi, last year overtook WPP as the world's largest advertising company by revenues. Two other major advertising groups – Omnicom Group and Interpublic Group – have agreed to merge in a $30bn deal that will create a major new player in the market. WPP on Monday confirmed that Mr Read will step down at the end of the year after more than three decades in the business. The announcement came amid growing scrutiny over client losses, though sources close to Mr Read said he wanted to announce his departure ahead of Cannes Lions, the annual industry conference that begins next week.
Yahoo
38 minutes ago
- Yahoo
Air India Flight Makes Emergency Landing Due to Bomb Threat 1 Day After Fatal Plane Crash
An Air India flight had to circle back to Phuket, Thailand to make an emergency landing on Friday, June 13, following reports of a bomb threat A note was found in the aircraft's bathroom, per a post on the airport's Facebook page Authorities have since confirmed that no explosives or suspicious objects had been discovered and the emergency has now been called offAn Air India flight has had to be diverted following reports of a bomb threat, one day after hundreds of people died in a tragedy involving one of the airline's planes. On Friday, June 13, flight AI 379 was heading from Phuket to New Delhi in India when it had to make an emergency landing back on the Thai island, per a Phuket International Airport - HKT Facebook post, which was reshared on the Airports of Thailand (AOT) page. AOT is a public company that manages multiple international airports in the country. The Facebook post stated that the pilot had been "informed to bring the aircraft back to Phuket Airport" after a bomb threat note was found inside a bathroom on the aircraft, which had been carrying 156 passengers and eight crew members. "Authorities have confirmed that no explosives or suspicious objects were found," the post stated. Monchai Tanode, director of Phuket International Airport, said of the incident, "We received a report of a bomb threat written inside the aircraft's bathroom, so the pilot informed the control tower and decided to divert the flight to Phuket International Airport after circling to burn off fuel," per the BBC. Tanode added during a press conference, "Police took suspects for questioning but could not clearly say who wrote the note," Reuters reported. There were initially three suspects, who have all since been cleared, the news agency noted, citing Air India official Debasish Choudhury. According to data from flight tracker Flightradar24, the aircraft had taken off from Phuket at 9:30 a.m. local time, before being diverted back to the airport, and later taking off for New Delhi at 4:28 p.m. Air India and Phuket International Airport didn't immediately respond when contacted by PEOPLE for comment. The incident came a day after Air India Flight AI171 crashed on the afternoon of Thursday, June 12, just after takeoff from Ahmedabad in India. The jet had been bound for London's Gatwick airport. Citing health officials, CNN reported that at least 290 people have now been pronounced dead. The outlet noted that the plane crashed into a hostel for doctors. The airline confirmed in a statement on X that there was a "sole survivor" out of the 230 passengers and 12 crew on board. The airline did not identify the living passenger beyond saying they are a British citizen "of Indian origin" who is being "treated in a hospital." However, multiple local reports have since identified the man as 40-year-old Vishwash Kumar Ramesh. After the crash, the airline shared a post on X confirming "the passengers comprised 169 Indian nationals, 53 British nationals, 7 Portuguese nationals and 1 Canadian national." Never miss a story — sign up for to stay up-to-date on the best of what PEOPLE has to offer, from celebrity news to compelling human interest stories. Video footage that emerged online showed the plane descending quickly to the ground right after it took off. It was then seemingly consumed by a large fireball. The cause of the crash is under investigation. Read the original article on People
Yahoo
41 minutes ago
- Yahoo
West Ham $10M transfer payment to CSKA Moscow held up by UK sanctions
GENEVA (AP) — Millions of dollars due to soccer club CSKA Moscow from West Ham will stay unpaid while financial sanctions are imposed by the British government during the Russian invasion of Ukraine. CSKA said on Friday it could file an appeal with Switzerland's supreme court in the three-year financial dispute over the 26.7 million euros ($30.8 million) transfer deal for Croatia midfielder Nikola Vlašić. Advertisement A Court of Arbitration for Sport ruling in the case, further stalling payments owed by West Ham, is 'essentially an indefinite deferment plan for the English club,' CSKA Moscow said in a statement. West Ham must pay the outstanding money only when it can get a license from the British government or the sanctions regime is amended, the CAS judges ruled. They also overturned a FIFA order that West Ham should be liable for 5% interest since 2022 on the money. West Ham appealed to CAS challenging a FIFA order in 2023 to pay CSKA a second contracted part of the transfer fee or face a ban on registering newly signed players. The Premier League club signed Vlašić in 2021 and a second payment of 8.55 million euros ($9.9 million) was due in July 2022. Advertisement That was five months after Russia's full invasion of Ukraine led the British government to impose financial sanctions including against CSKA's then-owner, the VEB bank, and the club's account holder. West Ham has argued since 2022 it was 'faced with the impossibility' of sending money to Russia without committing a crime. However, FIFA judges ruled in 2023 that West Ham did not prove it was impossible to make the payment. At the CAS hearing, FIFA told the panel of three judges it was unable to create and oversee an escrow account that West Ham could pay into. The CAS panel ruled by a 2-1 majority for West Ham that 'no alternative legal routes were available to pay CSKA at that time.' Advertisement The 27-year-old Vlašić played one season for West Ham which later sold him to Torino for almost 13 million euros ($15 million). ___ AP soccer: Graham Dunbar, The Associated Press