Reported by Crystal Kim, author of Axios Crypto A jury found Avraham “Avi” Eisenberg guilty on all three counts of fraud and manipulation in a $110 million crypto trade scheme using the Mango Markets platform. Why it matters: The case was the first known test for a jury to decide whether existing U.S. laws governing fraud and […]
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 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 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 Darby Sparks A lawsuit against the Bank of Utah alleging they aided in a multimillion dollar Ponzi scheme has added a new name to the list. The suit claims Vice President and Senior Trust Officer Jodi Buckner was directly responsible for aiding Stephen Swensen in his theft by not reporting her suspicions of fraud. A […]
Reported by Jamey Keaten Two managers of a Saudi oil exploration company went on trial in Switzerland on Tuesday for alleged fraud and money laundering over a scandal years ago linked to a Malaysian sovereign wealth fund that the U.S. Justice Department once described as the “biggest kleptocracy case” ever. The defendants from PetroSaudi — […]
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 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 […]
Financial Crime News Briefs 