Reported by Walter Sanchez Silva/ACI Prensa/CNA Matagalpa, Nicaragua The Nicaraguan National Police, controlled by the dictatorship of President Daniel Ortega and his wife, Vice President Rosario Murillo, published a statement May 27 accusing the Catholic Church of various crimes such as money laundering, a baseless charge, according to human-rights defenders. The statement says that the […]
Reported by Reuters Bank of Queensland Ltd (BOQ.AX) said on Wednesday it had entered into separate undertakings with the country’s financial crime and prudential regulators to comply with anti-money laundering and counter-terrorism financing laws and address risk governance practices. The court-enforceable undertaking accepted by the Australian Prudential Regulation Authority (APRA) follows several breaches of prudential […]
Reported by ROSS DELLENGER Texas A&M’s fundraising arm is believed to be the first distribution model that allows a school’s booster to be heavily involved in the NIL space. Maria Lysaker/USA TODAY Sports (Summary of original article is featured below.) In the landscape of college athletics, the distribution of compensation to student-athletes has become a pressing […]
Reported by Tom McGinty, Shane Shifflett and Amrith Ramkumar (Summary of original report featured below) The SPAC boom has resulted in significant losses for investors, while insiders in the companies that went public through SPACs made profitable trades. Executives and early investors sold shares worth $22 billion at opportune moments before share prices plummeted. Among […]
Reported by Maya Gebeily Once celebrated as a financial wizard, Lebanese central bank governor Riad Salameh is spending his final weeks in office a wanted man, faced with French and German arrest warrants that have been prompted by long-running corruption probes. The warrants are the latest twist in cross-border investigations into whether Salameh, the governor for three […]
Reported by Reuters France’s ACPR financial regulator’s sanctions commission has decided to fine BMW Finance 500,000 euros ($550,400) for shortcomings in its money-laundering and terror-financing controls, the ACPR said on Friday. “BMW Finance took too long to devote sufficient human resources to these controls and comply with regulation, especially since it is part of a […]
Reported by Sue Dehnam Two individuals behind the company WeedGenics are accused of running a Ponzi scheme and spending tens of millions of dollars on luxury cars, residential upgrades, and adult entertainment. The U.S. Securities and Exchange Commission (SEC) obtained an emergency order on May 23 to suspend what they allege is an ongoing fraud and Ponzi-like […]
Reported by Grace Schepis When President Biden signed the Anti-Money Laundering (AML) Whistleblower Improvement Act on December 29th, 2022, the Treasury Department had its work cut out for them. In the shadow of the highly successful Securities and Exchange (SEC) and Commodity Futures Trading Commissions (CFTC), the new program is expected to process money laundering, sanctions busting, and Bank Secrecy Act […]
Reported by The Associated Press Former Panamanian President Ricardo Martinelli was among some 20 people who went to trial Tuesday on money laundering charges as he tries to mount a political comeback ahead of next year’s national elections. The case, known locally as “New Business,” dates back to 2017 and concerns the purchase of a publishing […]
Reported by David Yaffe-Bellany and Matthew Goldstein (Summary of original article featured below) Federal prosecutors in Manhattan have amassed a vast and diverse array of evidence in the criminal case against Sam Bankman-Fried, the former cryptocurrency executive. The evidence includes computer code, millions of pages of emails, Slack messages, and a handwritten diary belonging to […]
Financial Crime News Briefs 