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Financial Crime News Briefs

Snapshots of money laundering, insider trading, financial fraud, sanctions evasion, regulations, and AI technology developments for educational purposes only.

Day: January 23, 2024

Written by FinCrimeJanuary 23, 2024

Pastor Charged With Cryptocurrency Fraud Said God Told Him to Do It

Reported by Jesus Jiménez A pastor in Denver who said that God told him to sell cryptocurrency that could not be cashed is facing civil charges, along with his wife, for marketing a digital coin that prosecutors said was “practically worthless” and using the proceeds to support a “lavish lifestyle.” The pastor, Eligio Regalado, and […]

Written by FinCrimeJanuary 23, 2024

Over 2,000 shell companies have directors aged 123 years or older, Moody’s found

Reported by GIULIA MORPURGO and BLOOMBERG Moody’s Analytics has found 21 million “red flags” associated with shell companies that could be used to enable financial crimes, from ancient directors to dubious addresses. For instance, more than 2,200 companies have directors aged 123 years and above, despite the fact that the oldest known human lived to […]

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