Reported by Reuters The Commodity Futures Trading Commission (CFTC) on Tuesday filed a civil enforcement action against Fisher Capital and its owner, Alexander Spellane, alleging it perpetrated a precious metals investment fraud targeting older adults. The Los Angeles-based dealer of precious metals defrauded “hundreds of elderly persons into investing more than $30 million in gold […]
Reported by TOM KEATINGE In February 2022, I compared the UK’s first round of sanctions against Russia and the Putin regime to taking a peashooter to a gunfight. The threat of sanctions failed to deter Vladimir Putin’s full-scale invasion of Ukraine and their early imposition was slow and lacked bite. Western leaders were initially poor at articulating […]
Reported by Kris Holt A former Apple employee who pled guilty to defrauding the company out of over $17 million has been sentenced to three years in prison and ordered to repay his ill-gotten gains. Dhirendra Prasad, who primarily worked as a buyer in Apple’s Global Service Supply Chain department during his time at the […]
Reported by Jennifer Sor Russia is relying on its “dark fleet” of oil tankers to skirt Western sanctions, but that’s raising the risk of ship collisions out at sea, according to industry experts, who have flagged concerns as Russia attempts to evade trade restrictions. Executives from maritime shipping and insurance firms have said Russia’s growing […]
Reported by U.S. Department of Justice, U.S. Attorney’s Office, Southern District of New York Cooper Morgenthau Embezzled More Than $5 Million and Caused False Statements to be Made to Accountant and Auditor and in SEC Filings Damian Williams, the United States Attorney for the Southern District of New York, announced today that COOPER MORGENTHAU, the […]
Reported by Alex Young Fugees co-founding member Pras Michel has been convicted for his involvement in a brazen billion-dollar Malaysian money laundering scheme. On Wednesday, a jury found Pras guilty of 10 federal counts, including campaign finance violations, money laundering, illegal lobbying, witness tampering, and lying to banks. He faces up to 20 years in prison. The case […]
Reported by Breck Dumas Cryptocurrency crimes like hacking heists reached an all-time high in 2022, but new technologies using AI are cracking dow Cryptocurrency crimes hit an all-time high last year as digital tokens’ popularity with criminals soared to a record, but the meteoric rise of artificial intelligence means there’s a new sheriff in town, and its […]
Reported by The Associated Press Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian Nelson, with U.S. Attorney Matthew Graves for the District of Columbia, speaks during a news conference on Tuesday at the Department of Justice in Washington. Manuel Balce Ceneta/AP WASHINGTON — A British tobacco company has agreed to pay more […]
Reported by Torey Akers The first-ever insider trading trial in the US involving digital assets is getting underway, and the focus is on art, not stocks. A former product manager at OpenSea, the largest NFT(non-fungible token) marketplace, has been accused by the Manhattan District Attorney’s office of violating confidentiality procedures in order to sell his […]
Reported by Glenn Thrush WASHINGTON — The Justice Department said on Monday that it had indicted four men on charges of laundering virtual currency stolen by an infamous North Korean online criminal syndicate as part of a far-reaching scheme to buy goods with U.S. dollars and evade international sanctions. The charges, filed in three cases […]
Financial Crime News Briefs 