Reported by Heidi Groover The FBI appears to have launched an investigation into a Bellevue-based real estate investment firm, the first indication that the company’s former executives could face criminal charges connected to allegations they ran a Ponzi scheme. For at least the last decade, iCap raised money from investors in Washington state and elsewhere, […]
Reported by Pravda As of July 2023, Russia had imported at least 3,600 luxury cars since the beginning of the full-scale invasion, even though the G7 countries imposed restrictions on exporting such goods to the Russian Federation in early March 2022. Ukrainska Pravdaʼs investigation has shown that Russian billionaires are overpaying for “logistical inconveniences”. However, […]
Reported by AMANDA GERUT The U.S. Attorney unsealed an indictment yesterday charging three current and former minor league baseball players with insider trading in Del Taco stock ahead of the fast food chain’s $585 million acquisition by Jack in the Box in 2022. The three players, Austin Bernard, Jordan Qsar and Grant Witherspoon are connected because Qsar, 28, and Bernard, 27, attended […]
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 […]
Financial Crime News Briefs 