Reported by: Victoria Moore Wine fraud is still prevalent today and it’s not just a collectors’ problem, restricted to rare and valuable bottles sold at auction. The trade in bulk wine has often been accused of covering up cases of passing-off, with riper grapes from sunnier countries or regions adding stuffing to thin vintages from […]
Reported by: Todd Spangler Former Green Bay Packers QB Brett Favre’s weekly NFL show for SiriusXM has been put on hold, a company spokesman confirmed to Variety. It’s the latest business deal in jeopardy over the pro QB’s involvement in a welfare fraud case in Mississippi. Favre allegedly conspired with former Mississippi Gov. Phil Bryant […]
Reported by: JARED GANS SpaceX CEO Elon Musk announced on Friday that he is activating the company’s Starlink satellite internet service in Iran after U.S. officials eased sanctions to allow the Iranian people greater access to the internet. The Treasury Department announced the policy change earlier on Friday to let companies provide additional online services as […]
Reported by: LILA MACLELLAN Last week, U.S. Deputy Attorney General Lisa Monaco outlined the Department of Justice’s plan to increase the number of corporate criminals it prosecutes. The most forceful way the revised policies will influence corporate behavior is by targeting executive pay structures such as golden parachutes, says Susan Divers, a lawyer and the […]
Reported by: VIKRAM BARHAT Cybercriminals pilfered roughly $4.5 billion worth of digital currency in 2021, more than twice the 2020 total. In the first half of this year alone, nearly $2 billion worth of crypto has been lost to hacking, clocking a 60% jump in such instances. Whether your coins are held privately or on […]
Reported by: Rodrigo Tolotti As part of Operation Colossus executed in conjunction with the Brazilian tax authority, the Federal Police is carrying out 101 ordered the freezing of roughly $238 million in assets and securities held by those under investigation, and they also seized an undisclosed amount of virtual assets held by 28 exchanges under […]
Reported by: CHLOE TAYLOR Cryptocurrencies are dangerous “Ponzi schemes” that put billions of dollars at risk every year, JPMorgan CEO Jamie Dimon declared in a scathing review of the volatile digital assets. In congressional testimony on Wednesday, Dimon referred to himself as “a major skeptic” on cryptocurrencies like Bitcoin. “They are decentralized Ponzi schemes, and […]
Reported by: LEXY PEREZ and LULU GARCIA-NAVARRO Shakira is facing a legal battle after being charged with tax evasion, as prosecutors in Spain alleged she failed to pay the Spanish government 14.5 million euros ($15 million) in taxes between 2012 and 2014. Prosecutors also said if she’s convicted, they would ask a court to sentence […]
Reported by: Kirstin Ridley and Sinead Cruise The government is likely to introduce a new Economic Crime and Corporate Transparency Bill to parliament on Thursday to tackle problems such as the abuse of UK registered companies by international money laundering networks and fraudsters, the source said, speaking on condition of anonymity. Under the latest planned […]
Reported by: Eleanor Olcott The US Securities and Exchange Commission had charged Cheetah Mobile chief executive Sheng Fu and its former president and chief technology officer Ming Xu. Its action came 10 months after a Financial Times investigation found that in 2016, Fu initiated share sales worth as much as $31mn a few weeks before […]
Financial Crime News Briefs 