Reported by: Andy Mukherjee | Bloomberg Accusations of stock-market manipulation by the Adani Group, strenuously denied by the conglomerate, have shone the spotlight on a festering global problem loosely estimated to amount to between 2% to 5% of the world’s output: Money-laundering. Obscure funds based in Cyprus and Mauritius, one of whom is linked to an intermediary that’s also alleged to have played a […]
Reported by: JON SHAZAR Given just how often banks get in trouble for fucking them up, over and over and over again, it seems like a real pain-in-the-ass to have to file suspicious activity reports. I mean, really, is it all that suspicious when a future president and his family have money pouring in from—let’s just say […]
Reported by: U.S. Department of Justice VLADIMIR VORONCHENKO, who resided at various times in New York, New York, Southampton, New York, Fisher Island, Florida, and Russia, held himself out as a successful businessman, art collector, and art dealer, and as a close friend and business associate of Viktor Vekselberg. On April 6, 2018, the U.S. […]
Reported by: Daniel Van Boom Before his precipitous fall from grace, Sam Bankman-Fried was crypto’s friendly face. His persona wasn’t just for customer consumption, but was also aimed at lawmakers. He lobbied politicians across both parties with his air of technocratic competence, and tens of millions of dollars in donations. Now, months after the company […]
Reported by: JACK DUTTON Ukrainian “anti-oligarch” President Volodymyr Zelensky and his inner circle’s network of offshore companies were not exposed in Panama Papers but can be found in the Pandora Papers, another tranche of files leaked by journalists that revealed the clandestine financial affairs of the elite and super rich. The Pandora Papers, published in […]
Reported by: NICHOLAS SAY The United States Department of Justice (DoJ) are scrutinizing Silvergate’s relationship with embattled crypto firms FTX and Alameda Research. The DoJ fraud unit is looking into Silvergate’s hosting of accounts connected to FTX and Alameda Research, according to a source familiar with the matter quoted by Bloomberg. The crypto-friendly bank plays a […]
Reported by: ZDRAVKO LJUBAS Almost 40 percent of all offshore companies that own property in the United Kingdom have failed to declare their real owners and could now face hefty fines, a suspension of their ownership rights and prison. Foreign corporations were obliged to register their beneficial owners with the Register of Overseas Entities (ROE) […]
Reported by: BOB AARON, LESLIE RUBIN The West Virginia Senate Finance Committee questioned Gov. Jim Justice’s chief counsel Friday about how $10 million in COVID-19 relief money ended up going toward construction of Marshall University’s new baseball stadium. State Auditor J.B. McCuskey, whose office raised questions via email regarding the transfer, also testified that the […]
Reported by: Níamh Curran Criminals will always evolve and find new ways to commit the same crimes. This is something which Jodie Wilkinson, head of strategic partnerships at takepayments warns of: “Scammers are constantly updating their technology and techniques, and it’s likely that fraud will continue to become more sophisticated, meaning consumers and businesses need […]
Reported by: ZOLTAN LUCAS Manhattan District Attorney Alvin Bragg announced on Tuesday the indictment of a woman living on the Upper East Side in Manhattan, New York for using cryptocurrency to finance terrorism groups in Syria. Victoria Jacobs, also known as Bakhrom Talipov, has been indicted on charges that include soliciting or providing support for an act […]
Financial Crime News Briefs 