Author: FinCrime

I don’t write the articles here. I just share what I read to like minded professionals and enthusiasts. Copyright is owned by the authors and/or publishers.
Written by FinCrime

Brought home $340k cash in trash bag: Kim Kardashian tells FBI she gambled with Jho Low in 1MDB investigation

Instagram/Kim Kardashian, Screengrab/Instagram/Leonardo DiCaprio Reported by: DRIMA CHAKRABORTY Choose your friends wisely. Kim Kardashian and Leonardo DiCaprio rediscovered the saying when they were caught up in the 1Malaysia Development Berhad (1MDB) scandal due to their connections with Malaysian fugitive Jho Low, as recently-uncovered Federal Bureau of Investigation (FBI) documents revealed. The 2019 documents, reported by Bloomberg […]

Written by FinCrime

Swiss prosecutors charge four bankers with helping to hide Putin’s millions

Despite widespread public reporting about the cellist’s connections to Vladimir Putin (pictured), the bankers signed off on declarations that Sergei Roldugin was not a ‘politically exposed person’ © Sergei Bobylyov/AFP/Getty Images Reported by: Sam Jones in Zurich Prosecutors in Switzerland have charged four bankers with helping to hide tens of millions of Swiss francs on […]

Written by FinCrime

Part of Kinahan cartel’s €1 billion fortune ‘laundered through British and American film industries’

Reported by: John Mooney, Crime and Security Correspondent, The Sunday Times A high-profile financier based in Dubai is suspected of laundering part of the Kinahan cartel’s €1 billion fortune through the British and American film industries. An international police investigation into the crime gang’s financial structure has uncovered a network of professionals in Dubai, London, […]

Written by FinCrime

Healthcare CEO Faces Charges of Making Illicit Stock Sales in Prearranged Trades

Reported by Dave Michaels The founder of telehealth provider Ontrak Inc. was charged in a first-of-its-kind criminal insider-trading case, with prosecutors alleging he sold millions of dollars worth of stock while misusing a trading plan that executives normally deploy to shield themselves from such suspicions. Ontrak chief executive Terren Peizer set up the prearranged trading […]

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Close Ally of FTX Founder Sam Bankman-Fried Pleads Guilty to Fraud

Reported by: Corinne Ramey and Alexander Osipovich FTX co-founder and former director of engineering Nishad Singh pleaded guilty to fraud charges and agreed to cooperate against his former boss, Sam Bankman-Fried, making him the third person in the FTX founder’s orbit to do so. Mr. Singh, 27 years old, pleaded guilty to six criminal counts, including conspiring […]

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How the Biggest Fraud in German History Unravelled

Reported by: Ben Taub In August, 2018, Wirecard had a market capitalization of twenty-eight billion dollars. The company displaced Commerzbank from the DAX 30, Germany’s most prestigious stock index. Markus Braun—who owned eight per cent of the company and was now a billionaire, on paper—had taken out a personal loan of a hundred and fifty million euros […]

Written by FinCrime

How the Biggest Fraud in German History Unravelled

Reported by: Ben Taub In August, 2018, Wirecard had a market capitalization of twenty-eight billion dollars. The company displaced Commerzbank from the DAX 30, Germany’s most prestigious stock index. Markus Braun—who owned eight per cent of the company and was now a billionaire, on paper—had taken out a personal loan of a hundred and fifty million euros […]

Written by FinCrime

‘Embezzled’ Lebanese Cash In Swiss Banks: Media Report

Reported by: AFP – Agence France Presse Banks in Switzerland are holding a substantial amount of the millions of dollars Lebanese central bank chief Riad Salameh is accused of embezzling, Swiss media reported on Sunday. Salameh, 72, faces investigations related to suspicions of money laundering and illicit enrichment in Lebanon and abroad after he amassed […]

Written by FinCrime

Corporate Transparency Act: What You Need to Know Before 2024

Reported by: Robert Hamor With a stated goal of countering money laundering, the financing of terrorism and other illicit activities (including those of Russian oligarchs currently under U.S. sanctions), Congress passed the Corporate Transparency Act (CTA) in January 2021 as part of the National Defense Authorization Act. In 2022, the Department of Treasury’s Financial Crimes […]