Day: February 2, 2024

Written by FinCrime

Brit hedge fund trader, 54, accused of being ‘central mastermind’ behind £36million ‘cum-ex’ tax fraud is jailed for six years in Denmark

Reported by Perkin Amalaraj and Reuters A Briton charged with defrauding Danish tax authorities of more than 320 million Danish crowns (£36.6 million) in a sham trading scheme to make double tax reclaims has been sentenced to six years in prison. Danish prosecutors in 2021 brought preliminary criminal charges against Guenther Klar, 54, along with […]

Written by FinCrime

China Does It Again: Italian Tax Police Uncovers $2 Billion Money Laundering Operation

Reported by MASSIMO INTROVIGNE More of the same. In March 2023, “Bitter Winter” published the only detailed English-language account of the “Operation Belt and Road,” a large-scale investigation of the Italian Tax Police that uncovered how mainline Chinese banks cooperated with the Italian Mafia, Colombia’s drug cartels, and Russian oligarchs close to Putin to launder at least […]