Reported by Abiodun Sanusi The Economic and Financial Crimes Commission will on Thursday arraign Binance Holdings Limited and two of its senior executives, Tigran Gambaryan and Nadeem Anjarwalla, who recently escaped from custody and fled Nigeria, over an alleged $35,400,000 money laundering case. The EFCC had on Thursday, March 28, charged Binance Holdings Limited, Gambaryan, […]
Reported by CHINEDU ASADU Associated Press An executive of cryptocurrency exchange Binance has escaped custody in Nigeria, where a criminal investigation has been launched against the platform accused of being used for money laundering, authorities said Monday. Nadeem Anjarwalla, the regional manager for Binance in Africa, “fled Nigeria using a smuggled passport,” the office of Nigeria’s […]
Reported by Kelly Phillips Erb IRS-Criminal Investigation (CI) has investigated 1,644 COVID-related tax and money laundering cases potentially totaling $8.9 billion, with well over half that amount coming from cases opened in the last year. Fraud As of February 29, 2024, 795 people have been indicted for their alleged COVID-related crimes, and 373 individuals have been sentenced […]
Reported by Alex Koller Andy Bechtolsheim, the co-founder of Sun Microsystems and Arista Networks, has reached a settlement with the U.S. Securities and Exchange Commission on insider trading charges that will cost him almost $1 million and bar him from serving as a public company officer or director for five years. The civil charges announced Tuesday […]
Reported by U.S. Department of the Treasury Today, the Financial Action Task Force (FATF)—the global standard-setting body for anti-money laundering, countering the financing of terrorism, and countering proliferation financing (AML/CFT/CPF)—announced that the United States has been upgraded to “largely compliant” with FATF Recommendation 24, which relates to beneficial ownership transparency for legal persons. The FATF […]
Reported by Reuters Russian oil firms face delays of up to several months to be paid for crude and fuel as banks in China, Turkey and the United Arab Emirates (UAE) become more wary of U.S. secondary sanctions, eight sources familiar with the matter said. Payment delays reduce revenue to the Kremlin and make them […]
Reported by Kyle Jaeger The Internal Revenue Service (IRS) has issued a new memo clarifying the rules for reporting large cash payments between marijuana businesses, which the agency says should not automatically be considered “suspicious” just because of the federally prohibited nature of the industry. In the memo, IRS says it is responding to a […]
Reported by Sam Jones in Berlin and Raya Jalabi in Beirut Swiss authorities have censured Lebanon’s largest bank for serious money laundering violations, after uncovering millions of francs in unexplained payments to senior political figures routed through the wealthy alpine country. The investigation into Bank Audi by Finma, Switzerland’s market regulator, was triggered by a […]
Reported by RICHARD WINTON Homeland Security agents conducted searches of Holmby Hills and Miami mansions owned by Sean “Diddy” Combs on Monday as part of a federal inquiry into sex trafficking allegations involving the hip-hop and liquor mogul, law enforcement sources said. The 17,000-square-foot mansion where Combs debuted his last album a year ago was […]
Reported by Simon Sharwood If you dine out at an Asian restaurant on your next holiday, the United Nations thinks your meal could help North Korea to launder money. That bitter tidbit is detailed by the United Nations Panel of Experts dedicated to assessing the Security Council’s sanctions against The Democratic People’s Republic of Korea […]
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