More on Ebix: FBI reportedly probing cross-border transactions

|About: Ebix Inc (EBIX)|By:, SA News Editor

Three sources tell Bloomberg Ebix's (EBIX -15.3%) cross-border financial transactions are being investigated for evidence of money laundering.

One of the sources is a former Ebix exec who says he was questioned by FBI agents about Ebix wire transfers to places such as India, Sweden, and Singapore.

Top Ebix investor the Rennes Foundation is said to be an "area of interest" for both the FBI and SEC. The foundation's beneficiaries remain a mystery even to the SEC and former would-be Ebix acquirer Goldman.

Ebix has rebounded from its intraday low of $8.21, but is still off sharply.

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