Reported by Solomon Oladipupo US prosecutors are mulling over whether to initiate criminal charges against Binance, thereby turning the heat on 13 civil chargesfiled by the securities watchdog against the top crypto exchange earlier in June, Semafor reported today (Wednesday), citing insider sources. However, the Department of Justice (DOJ) is worried that such action could lead […]
Reported by Riah Pryor The recent sentencing of the Palm Beach art dealer Daniel Elie Bouaziz, after he pled guilty to laundering money from the sale of counterfeit works by artists such as Andy Warhol and Jean-Michel Basquiat, raised eyebrows in May. Not because of the crime (it is hardly the first time a Warhol has been faked) […]
Reported by Lauren Ohnesorge A man charged with misdirecting millions of dollars meant for Bibles into diamonds and real estate used a North Carolina shell company to launder the proceeds of his scheme, according to an unsealed federal indictment. Jason Gerald Shenk, a former resident of Dublin, Georgia, is now being sought on multiple federal […]
Reported by Kenneth Corbin The agency has issued a risk alert detailing the findings of a series of exams focusing on brokers’ AML programs, identifying a number of failures in a compliance area regulators see as important in preventing the illicit movement of money. “[S]ome registrants did not appear to devote sufficient resources, including staffing, to AML […]
Reported by Robert Johnston Jr., Jimmy Kang, Paula Ladd, Scott Moss, and Samantha Sigelakis-Minski of Lowenstein Sandler LLP U.S. hedge funds, private equity funds, and venture capital funds (collectively, the Private Funds)2 and their U.S. general partners, sponsors, and managers (Advisers) are not directly subject to the Bank Secrecy Act of 1970 and its amendments (BSA), […]
Reported by Marjorie Hernandez The “Breaking Bad” grandma accused of running an international drug ring out of her California home is living life “as if nothing has happened,” and doesn’t even have an ankle monitor, pictures taken by The Post show. Joanne Segovia, 64, has been out on bail since charged with allegedly leading a double life […]
Reported by Matt Levine Last August, Ryan Cohen did a very funny joke. Cohen — founder of online pet-food retailer Chewy, chairman of the board at GameStop Corp. and general meme-stock influencer and activist — had spent about $121 million to buy about 9.8% of Bed Bath & Beyond Inc.’s stock in early 2022, and […]
Reported by Miles Brignall Banks are closing more than 1,000 accounts every working day, according to new data that has fuelled the growing row over so-called “debanking” and prompted Nigel Farage to call for a royal commission to investigate what he said was a scandal. The figures, obtained through a freedom of information (FoI) request made to […]
Reported by DAVID J. NEAL CEO Carl Ruderman’s part in the 1 Global Capital fraud already has cost him money — a $15 million civil penalty, another $750,000 cash dunning — and real estate, as in 50% of the equity in a five-bedroom, 12-bathroom Aventura condominum. But, Wednesday, the Justice Department came for something else […]
Reported by Genevieve Glatsky The son of Gustavo Petro, the president of Colombia, was arrested on charges of money laundering and illicit enrichment, the attorney general’s office announcedearly Saturday morning. Nicolás Petro was arrested along with his ex-wife, Daysuris Vásquez, who was also charged with money laundering, as well as personal data violations. They were taken […]
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