Reported by Michelle Graff Two diamond companies and a Wagner Group official in the Central African Republic with ties to the gold trade are among the entities included in the latest round of Russian sanctions. In a member alert issued last week, the Jewelers Vigilance Committee noted that two more diamond companies are among the […]
Reported by Holly Barker A New York lawyer admitted Monday to money laundering and orchestrating an $18.8 million Ponzi scheme using his Forest Hills-based law firms, Wisnicki & Associates LLP and Wisnicki Neuhauser LLP. Robert Wisnicki, who was indicted along with seven others in January 2022, pleaded guilty in the US District Court for Southern District of […]
Reported by Charles Gasparino When you think of a “banana republic,” you think of corrupt dictators someplace distant, where the people in power control the economy and jail their political opponents. Places like this still exist in the world — and believe it or not, right here in the good ’ol US of A. Securities […]
Reported by Jordan Stutts A Puerto Rico bank seized earlier this year by regulators will pay a $15 million fine in the first enforcement action under a two-year-old federal rule aimed at closing gaps in anti-money-laundering enforcement. Bancrédito International Bank and Trust Corp. — which was placed in receivership this year by banking regulators in […]
Reported by EMMA BURROWS The United States said Thursday that it was sanctioning more than 150 businesses and people from Russia to Turkey, the United Arab Emirates and Georgia to try to crack down on evasion and deny the Kremlin access to technology, money and financial channels that fuel President Vladimir Putin’s war in Ukraine. The […]
Reported by Francisco Alvarado A week after he was accused of shaking down a city marina operator in a civil lawsuit, Miami city commissioner Alex Diaz de la Portilla was arrested on Thursday and criminally charged for a laundry list of allegedly corrupt actions in connection with his younger brother’s failed judicial campaign last year. […]
Reported by Chris Prentice Christy Goldsmith Romero, a commissioner of the Commodity Futures Trading Commission (CFTC), said in remarks at a conference that she is pushing for U.S. regulators to create a searchable, centralized database of financial misconduct that could make it easier for the public to arm themselves against fraudsters. While some regulators compile […]
Reported by Jack Adamović Davies At least two people arrested in Singapore last month for their alleged involvement in a billion-dollar Chinese money-laundering syndicate have ties to London real estate worth more than $56 million, company and land records reviewed by Radio Free Asia and Organized Crime and Corruption Reporting Project (OCCRP) reveal. The previously unreported assets […]
Reported by Jennifer Sor Decentralized crypto exchanges are a hotbed for a certain type of fraud known as wash trading, according to a new report from Solidus Labs. The blockchain research firm found that at least $2 billion worth of cryptocurrency on ethereum-based decentralized exchanges have been wash traded since September 2020. The fraudulent practice […]
Reported by Sam Cavanaugh Earlier today, the Department of Justiceannounced that Jin Hua Zhang, a 36-year-old man from Staten Island, New York, plead guilty to charges related to his role as the leader of an international money laundering conspiracy. The intricate operation involved not only money laundering, but also the distribution of large quantities of […]
