Reported by Alex Wickham The UK government suspects Russian nationals have exploited lax checks by the companies register in attempts to launder war profits stolen from Ukraine, according to people familiar with the matter. British law enforcement agencies have identified large numbers of sham companies incorporated in the UK by nationals from a range of […]
Reported by: U.S. Department of Justice A former managing director of The Goldman Sachs Group Inc. (Goldman Sachs) was sentenced today to 10 years in prison for his role in a multibillion-dollar bribery and money laundering scheme involving Malaysia’s state-owned investment and development fund, 1Malaysia Development Berhad (1MDB). “Today, Roger Ng was sentenced for his […]
Reported by JOEL KHALILI When the US government announced sanctions against Tornado Cash last August, the warning seemed to be aimed at all crypto mixers. Alleging that Tornado Cash had been used to launder $7 billion in digital currency—including half a billion dollars tied to Lazarus, a hacking group sponsored by North Korea—the US Treasury’s Office […]
Reported by Reuters OSLO, March 8 (Reuters) – The ethics watchdog of Norway’s $1.3 trillion sovereign wealth fund said on Wednesday it is investigating whether three companies in which the fund has invested are involved in financial crime. The Council on Ethics for the Government Pension Fund Global in its annual report said two European […]
Reported by: Matthew Horwood Federal regulators yesterday fined a Toronto-based bank $676,500 for breach of regulations under the Proceeds Of Crime And Terrorist Financing Act. According to Blacklock’s Reporter, the penalty for Wealth One Bank of Canada was the steepest levied in two years. “We will be firm in ensuring businesses continue to do their part,” Sarah Paquet, […]
Instagram/Kim Kardashian, Screengrab/Instagram/Leonardo DiCaprio Reported by: DRIMA CHAKRABORTY Choose your friends wisely. Kim Kardashian and Leonardo DiCaprio rediscovered the saying when they were caught up in the 1Malaysia Development Berhad (1MDB) scandal due to their connections with Malaysian fugitive Jho Low, as recently-uncovered Federal Bureau of Investigation (FBI) documents revealed. The 2019 documents, reported by Bloomberg […]
Despite widespread public reporting about the cellist’s connections to Vladimir Putin (pictured), the bankers signed off on declarations that Sergei Roldugin was not a ‘politically exposed person’ © Sergei Bobylyov/AFP/Getty Images Reported by: Sam Jones in Zurich Prosecutors in Switzerland have charged four bankers with helping to hide tens of millions of Swiss francs on […]
Reported by: John Mooney, Crime and Security Correspondent, The Sunday Times A high-profile financier based in Dubai is suspected of laundering part of the Kinahan cartel’s €1 billion fortune through the British and American film industries. An international police investigation into the crime gang’s financial structure has uncovered a network of professionals in Dubai, London, […]
Reported by: Corinne Ramey and Alexander Osipovich FTX co-founder and former director of engineering Nishad Singh pleaded guilty to fraud charges and agreed to cooperate against his former boss, Sam Bankman-Fried, making him the third person in the FTX founder’s orbit to do so. Mr. Singh, 27 years old, pleaded guilty to six criminal counts, including conspiring […]
Reported by: Ben Taub In August, 2018, Wirecard had a market capitalization of twenty-eight billion dollars. The company displaced Commerzbank from the DAX 30, Germany’s most prestigious stock index. Markus Braun—who owned eight per cent of the company and was now a billionaire, on paper—had taken out a personal loan of a hundred and fifty million euros […]
Financial Crime News Briefs 