Tweet According to a report in the Wall Street Journal, prosecutors in the U.S. and UK are investigating the role of prominent Canadian businessman, Victor Dahdaleh as part of a bribery and money laundering investigation of Alcoa Inc. under the Foreign Corrupt Practices Act. Mr. Dahdaleh’s London premises were raided and documents seized as part of the […]
Tweet Thomas Petters, a Missouri businessman, was sentenced to 50 years in jail today for carrying out a Ponzi scheme that netted about US$3.7 billion over a 16-year period. In December 2009, Petters was convicted of several charges including conspiracy to commit money laundering, and money laundering. Petters’ company, Petters Worldwide Group, once owned Polaroid. […]
Tweet The RCMP have charged four people from Alberta with fraud and money laundering in connection with a $60 million Ponzi scheme in which about 1,000 investors from Canada and the U.S. were allegedly defrauded. Garth Bailey, Murray Stark and Robert Fly were charged with conspiracy to commit fraud and money laundering. A fourth person, […]
Tweet Scott Rothstein, a Florida lawyer who co-founded the now-defunct firm, Rothstein Rosenfeldt Adler, pleaded guilty to running a US$1.2 billion Ponzi scheme and five counts of RICO conspiracy, fraud and money laundering in the biggest investment fraud case in South Florida history. Rothstein, 47, is expected to receive a 30 to 50 year sentence […]
Tweet Government official had assets worth 57 times his salary The Collegial Bench of the Court of First Instance of Macau today sentenced a whole family for money laundering in connection with bribes over a government infrastructure project. The family members are related to Macau’s former Secretary for Transport and Public Works, Ao Man Long. […]
Tweet Ran Prostitution Service Disguised as Escort Service A Washington woman was sentenced today to two years in prison after pleading guilty to laundering the proceeds of crime derived from running an organized prostitution service disguised as an escort service at a tribal casino. Cheryl Larson pleaded guilty to prostitution, money laundering and possession of […]
Tweet $485 Million Laundered to Vancouver and Elsewhere In a fascinating series of judgments from Hong Kong, six wealthy immigrants to Vancouver from China, who laundered over US$485 million through casinos in Macau and Las Vegas, and banks in Canada and Hong Kong, were ordered to repay stolen funds to the Bank of China. The […]