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 Oksana Yang, a Vancouver resident, was convicted this week of attempting to leave Canada with more than $10,000 cash and not reporting it. The Proceeds of Crime (Money Laundering) and Terrorist Financing Act requires that every person report when they import to Canada or export from Canada cash (or other monetary instrument) equal to […]
Tweet Dozens of people were arrested across Europe in a major crackdown on Eastern European mafia led by Spanish authorities and dubbed “Operation Java”. At least 24 were detained in Spain and another 50 arrested in Germany, Austria, Switzerland, France and Italy for suspected ties to Georgian and Russian crime gangs. Various of the suspects […]
Tweet Spain’s largest money laundering trial, dubbed the “ballena blanca” (white whale) case, started in Malaga, Spain today. Fernando del Valle, a Chilean-born lawyer, and 18 others are on trial charged with money laundering, forgery, false testimony and crimes against the Spanish Treasury for laundering over 12 million euros from drug trafficking, prostitution, and tax […]
Tweet Wachovia Corp. has agreed to pay a US$160 million settlement with the Department of Justice in the U.S. over allegations that it failed to implement anti-money laundering controls that enabled drug traffickers to launder money by transferring funds from Mexican currency exchange houses, known as casas de cambio, to Wachovia. Prosecutors said the bank […]
Tweet According to a report in the South China Morning Post, police arrested Lin Chiu, an investor in the Neptune Group Limited for allegedly money laundering. The Neptune Group, a publicly traded company, is said to own 70% of the Hong Kong-based gambling cruise ship called “Neptune” and operates VIP junkets to casinos in Macau, […]
Tweet A German national, Michael Olaf Schuett, residing in Florida, was arrested today in connection with operating an unlicensed money transmitting business that received and disbursed funds to Canadians and Americans on behalf of Internet gambling sites operating offshore. According to a criminal complaint filed on February 17, 2010 in the United States District Court, […]
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 The housing boom in Kenya and dramatic increases in housing prices in Nairobi has prompted the Kenyan government to launch an investigation into property owned by foreigners according to a report by the Associated Press. The investigation is the result of allegations that Somali pirates are buying real estate in Kenya in record numbers […]
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 […]