Reported by Sophie Mann For Dailymail.Com and Associated Press Hollywood star Leonardo DiCaprio gave bombshell testimony in court for the prosecution in federal court on Monday morning as part of hip-hop star Pras Michel’s money laundering trial with the 1Malaysia Development Berhad (1MDB) DiCaprio’s involvement in the case stems from the money behind his film ‘The Wolf of […]
Reported by CIARAN LYONS DeFi execs at the World of Web3 (WOW) Summit in Hong Kong argued that implementing “Know Your Customer” (KYC) measures will tackle the “biggest issue” in decentralized finance (DeFi), which is hackers laundering millions of stolen funds into “clean money.” During a panel session at the summit on March 29, titled […]
Reported by Cyrus Farivar Roblox, the wildly popular children’s video game platform, may have a money laundering problem. According to a new court filing, more than 300 Roblox users are purportedly laundering money by using in-game currency to purchase fake in-game goods, according to a proposed settlement filed in San Francisco federal court Tuesday. “They appear to […]
Reported by Leo Schwartz At a Manhattan courthouse on Thursday, FTX founder Sam Bankman-Fried pleaded not guilty to five additional charges brought by U.S. prosecutors related to November’s collapse of FTX. The charges included conspiracy to commit money laundering, unlawful political contributions, and bribing a Chinese official, a new allegation filed by prosecutors earlier this […]
Reported by Mengqi Sun The suit by U.S. regulators against Binance Holdings Ltd. focuses in large part on the work of the cryptocurrency exchange’s former chief compliance officer, alleging he willfully aided and abetted the firm in evading U.S. laws. Samuel Lim, Binance’s compliance chief between 2018 and 2022, faces civil charges of undermining Binance’s […]
Reported by U.S. Department of Justice, U.S. Attorney’s Office, Southern District of New York Damian Williams, the United States Attorney for the Southern District of New York, announced today that AMIT BHARDWAJ, the former Chief Information Security Officer (“CISO”) at Lumentum Holdings Inc. (“Lumentum”), pled guilty to 13 counts arising from his participation in a […]
Reported by Dorota KOLINSKA On Tuesday, MEPs from the Economic and Monetary Affairs and Civil Liberties, Justice and Home Affairs committees adopted their position on three pieces of draft legislation on the financing provisions of EU Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) policy. The package consists of: Read full report: https://www.europarl.europa.eu/news/pt/press-room/20230327IPR78511/new-eu-measures-against-money-laundering-and-terrorist-financing
Reported by Annabelle Spranklen So why has art become such a worthwhile investment? Last year we saw technology stocks dwindling, ailing blue-chip stocks and crypto plummeting. The art market, however, was alive and kicking. Annual returns received from UHNWs art investments in 2022 were at 29 per cent and the top item purchased by UHNIs in 2022 was […]
Reported by Angela Berkowitz, Brendan Blake, Benjamin Halper, Jennifer Burns Luz, Jonathan Shapiro, and Marco Wong On February 3, 2023, in the matter In re Tesla Inc. Securities Litigation, Case No. 3:18-cv-04865, a California federal jury cleared Tesla, Inc. (Tesla), and CEO Elon Musk of claims that they committed securities fraud, causing investors to suffer losses […]
Reported by Joseph Menn An exiled Chinese tycoon indicted in New York earlier this month in a billion-dollar fraud case controls the conservative social media platform Gettr and used it to promote cryptocurrencies and propaganda, former employees have told The Washington Post. They said the arrested expatriate, Guo Wengui, and his longtime money manager, William […]
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