Reported by GABRIELLE HERZIG According to a new excerpt of Billy Walters’s autobiography, Gambler: Secrets From a Life at Risk, Walters writes that Phil Mickelson not only escaped the insider trading investigations that ultimately put Walters in prison, but also a separate money-laundering probe that originated in the spring of 2010. In an excerpt released last week, Walters […]
Reported by Dylan Tokar Allianz last year agreed to pay about $6 billion to resolved its own liability for the market meltdown. PHOTO: BENJAMIN GIRETTE/BLOOMBERG NEWS A federal judge in New York declined to throw out fraud charges against a former Allianzfund manager who claimed he was double-crossed by his lawyers, citing the terms of a joint […]
Reported by Robert Johnston Jr., Jimmy Kang, Paula Ladd, and Samantha Sigelakis-Minski (Originally appeared on JD Supra’s site) On August 1, a bipartisan bill was introduced to modify the Corporate Transparency Act (CTA).1The Protect Small Businesses and Prevent Illicit Financial Activity Act (H.R. 5119)2 was introduced in the U.S. House of Representatives by Zachary Nunn, R-Iowa, […]
Reported by Huw Jones Britain’s Financial Conduct Authority said on Monday it will ask lawmakers to report any problems they have opening or maintaining a bank account ahead of a formal investigation. The review is part of a wider look at “debanking”, which recently became a political issue after former Brexit Party leader Nigel Farage […]
Reported by Michelle Nichols North Korea continued developing nuclear weapons and producing nuclear fissile material in 2023 and evading United Nations sanctions that aim to cut off funding for Pyongyang’s nuclear and ballistic missile programs, according to an unpublished United Nations report seen by Reuters on Thursday. “After a record-breaking level of cyber thefts in […]
Reported by Buck Wargo New proposed regulations by the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of Treasury might put more pressure on U.S. commercial real estate professionals, including fund managers, to address money laundering in the industry. Starting in December 2021, FinCEN solicited input from industry professionals on how best to address […]
Reported by Madeleine Ngo Summary of original article shown below Federal prosecutors are working to recover pandemic aid funds obtained through fraudulent means. Many schemes involved false claims for relief funds intended to support the economy during Covid shutdowns. Some prosecutors are examining violent crime suspects for potential links to pandemic fraud, while others are […]
Reported by Daniel Boffey Art pieces known to have been recently owned by Russian nationals under western sanctions have been entered into a searchable database set up by Ukraine’s National Agency on Corruption Prevention (NACP). The agency’s “war and sanctions portal” lists paintings and sculptures thought to have been bought and sold in recent years […]
Reported by Max Colchester Over a year ago the West launched a new foreign-policy weapon to pressure the Kremlin to halt its war in Ukraine: It sanctioned more than a hundred leading Russian businessmen and their families, hoping that they would prod Russian President Vladimir Putin to give up his expansionist plans. So far the strategy hasn’t worked. The […]
Reported by Ari Redbord A recent tweet by venture capitalist and Coinbase board member Kathryn Haun, responding to Senator Elizabeth Warren’s AML bill, called out the ineffectiveness of AML in traditional finance. Haun, a former federal prosecutor, wrote: “We need something better. Senators that genuinely care about national security will work collaboratively with TradFi and crypto to […]
Financial Crime News Briefs 