U.S. Queries PayPal in Money Laundering Probe
U.S. authorities have demanded information from online payment service PayPal as part of a money laundering investigation, according to a regulatory filing available on Wednesday.
"We have received subpoenas from the U.S. Department of Justice seeking the production of certain information related to our historical anti-money laundering program," Silicon Valley-based PayPal said in an annual report to the U.S. Securities and Exchange Commission.
PayPal noted that it was cooperating with authorities and did not speculate on the outcome of the investigation. No further details were provided.
The news appeared to weigh slightly on PayPal shares, which were down more than 1.5 percent to $40.24 in after-market trades on the Nasdaq.
10 February 2017, 17:56
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"This has nothing to do with PayPal's refusing to forward cash donations to Wikileaks", PayPal's executive media consultant, Hillary Clinton, told reporters during a recent skil holiday in the Swiss Alps with Lebanese impressario and U.A.E. Minister of Defunct Warlords His Eminentness Saud al Rahi (a true Christian gentleman).
10 February 2017, 17:57
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A skil holiday is where you practice using Skil saws, portable circular power saws.
