Reported by Song Jung-a A top executive at Kakao has been arrested for alleged stock price manipulation during the South Korean internet giant’s heated acquisition battle for K-pop agency SM Entertainment this year. The Seoul Southern District Court issued an arrest warrant for Kakao’s chief investment officer Bae Jae-hyun on Thursday. Financial regulators have accused […]
Reported by Johnny Harris Is your “Extra Virgin Olive Oil” a lie concocted by the Italian mafia? Olive oil has been adored by people for millennia. It’s like the perfect food, it’s healthy and delicious. But there is also a darker side to it, a side that involves widespread corruption and Italian Mafia bosses. Watch […]
Reported by Market Screener The Securities and Exchange Commission today charged Exelon Corporation, electric utility company Commonwealth Edison Company (ComEd), which is Exelon’s subsidiary, and former ComEd CEO Anne Pramaggiore with fraud in connection with a multi-year scheme to corruptly influence and reward then-Speaker of the Illinois House of Representatives Michael Madigan. Exelon and ComEd agreed to settle the charges, with Exelon paying a […]
Reported by HELEN PARTZ AirBit Club co-founder Dos Santos is now the last AirBit defendant not yet sentenced but is scheduled to learn his fate on Oct. 4, 2023. The United States District Court for the Southern District of New York is progressing with the sentencing procedure for key individuals behind the cryptocurrency Ponzi scheme […]
Reported by Eve Sampson Criminal networks in Europe are increasingly mixing illicit finances with seemingly legal businesses, and exploiting new technology to grow their operations and launder money faster than authorities can keep up, a new Europol report revealed. Nearly 70% of criminal elements operating in the European Union use money-laundering techniques to garner revenue […]
Reported by Low De Wei, Chanyaporn Chanjaroen, and Andrea Tan Singapore banks are increasing scrutiny of some Chinese-born clients with other citizenships, following last month’s crackdown on money laundering involving more than S$2.4 billion ($1.8 billion) worth of assets that has rattled the Asian financial hub. Some lenders have been reviewing new account openings and transactions with […]
Reported by Aurelien Breeden Guy Wildenstein, the international art dealer, is scheduled to return to court in Paris this week to face accusations of massive tax fraud and money laundering in a lengthy legal battle that has slowly chipped away at the prestige and secrecy of a family dynasty that once dominated the global art […]
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 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. […]
Financial Crime News Briefs 