Reported by Alistair Gray and Richard Milne Denmark’s tax authority accused trader Sanjay Shah’s hedge fund of masterminding a “meticulously pre-planned” tax fraud on Monday, at the opening of a trial described by an English judge as one of the most complex to hit London’s courts. Lawyers acting for the Danish Customs and Tax Administration (Skat) told […]
Reported by FinCEN WASHINGTON—Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), in close coordination with the Department of State’s Diplomatic Security Service (DSS), issued a Notice to financial institutions on fraud schemes related to the use of counterfeit U.S. passport cards. The Notice provides an overview of typologies associated with U.S. passport card […]
Reported by Efe Bravo The Nigerian government is currently working with Interpol and Kenyan authorities to extradite Nadeem Arjarwalla, a Binance executive who was found in Kenya after escaping custody in Nigeria. This operation aims to have Arjarwalla answer charges related to allegations of financial misconduct. Arjarwalla, who initially arrived in Nigeria in February, faced accusations that the cryptocurrency exchange he represented was involved in […]
Reported by Craig Silverman and Peter Elkind Federal authorities are investigating the involvement of Chinese organized crime rings in gift card fraud schemes that have stolen hundreds of millions of dollars or more from American consumers. The U.S. Department of Homeland Security has launched a task force, whose existence has not previously been reported, to combat a […]
Reported by Albert Torres After the Oct. 7 attacks on Israel by Iran-backed Hamas, the Biden administration proudly touted its retaliatory crackdown on Iran’s oil revenue. Since 2023, however, Iran has made billions of dollars from its oil industry, using U.S. services and evading U.S. sanctions. And it’s not alone. The methods used to avoid detection and […]
Reported by Daniel Flatley and Jack Farchy The US and UK imposed new restrictions on trading Russian aluminum, copper and nickel that will reverberate across global metal markets, in the latest bid to curb President Vladimir Putin’s ability to fund his war machine. The rules prohibit delivery of new supplies from Russia to the London Metal Exchange […]
Reported by U.S. Attorney’s Office, Central District of California LOS ANGELES – A Japanese-language translator was charged today via federal criminal complaint with unlawfully transferring more than $16 million from a Major League Baseball (MLB) player’s bank account – without the player’s knowledge or permission – to pay off his own substantial gambling debts incurred with […]
Reported by CHARLIE CAMPBELL It’s Southeast Asia’s biggest ever fraud, amounting to $12.5 billion and embroiling some of Vietnam’s top bankers and officials. And on Thursday, a Ho Chi Minh City court reached its verdict: a death sentence for Truong My Lan, a highflying 67-year-old businesswoman who began life hawking cosmetics from a market stall […]
Reported by Sridhar Natarajan Morgan Stanley shares fell the most in five months after a report that a cadre of US regulators are scrutinizing the firm’s efforts to prevent potential money laundering by wealthy clients. The Securities and Exchange Commission, the Office of the Comptroller of the Currency and other Treasury Department offices are digging into […]
Reported by Pjotr Sauer Two Russian oligarchs have won a surprise victory against EU sanctions over Moscow’s war against Ukraine but remain under punitive measures for the time being. The European court of justice ruled that the European Council had not presented enough evidence to establish that Petr Aven and Mikhail Fridman were involved in […]
Financial Crime News Briefs 