Prosecutor sounds alarm over Luxembourg’s backlog of 862 financial crime cases
Martine Solovieff, Luxembourg’s top criminal prosecutor, has issued a stark warning regarding the country’s persistent struggle with financial crime investigations, citing overwhelming caseloads and staffing shortages as key obstacles.
Investment fund sues CSSF for €99 million
LFP 1 SICAV has filed a civil claim against the CSSF for gross negligence. The directors of the fund claim the regulator turned a blind eye to blatant fraud with the fund between 2014 and 2019, and can therefore be held responsible for the losses in the fund.