Friday, October 23, 2020

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Florida rapper Diamond Blue Smith accused of using COVID-19 relief fund to buy Ferrari

Federal prosecutors have charged a South Florida rapper of conspiring with others to steal tens of millions of dollars in federal relief funds meant to aid small businesses amid the coronavirus pandemic. The Justice Department in a release said Diamond Blue Smith,...

U.S. DoJ indicts John McAfee for tax evasion

Federal prosecutors unsealed an indictment on Monday against John McAfee, creator of the eponymous anti-virus software, over charges that he evaded taxes and willfully failed to file tax returns. The U.S. Justice Department announced the charges shortly after the Securities...

U.S. SEC sues John McAfee over promotion of “worthless” cryptocurrency ICO

The U.S. Securities and Exchange Commission (SEC) on Monday sued John McAfee, creator of the eponymous anti-virus software, alleging that he made over $23.1 million in undisclosed compensation from recommending seven cryptocurrency offerings on Twitter that were materially false...

Explainer: All both leaked FinCEN Files

Leaked documents involving about $2tn of transactions have revealed how some of the world's biggest banks have allowed criminals to move dirty money around the world. They also show how Russian oligarchs have used banks to avoid sanctions that were...

U.S. judge rules Turkey’s state-run Halkbank must face Iran sanctions case

A U.S. judge on Thursday refused to dismiss an indictment accusing state-owned Turkish lender Halkbank of helping Iran evade American sanctions. U.S. District Judge Richard Berman in Manhattan rejected Halkbank’s claim that the Foreign Sovereign Immunities Act shielded it from...

Former CFO of Boston Grand Prix charged in fraud scheme

The former chief financial officer of the Boston Grand Prix has been charged in a scheme to defraud financing companies who gave him money for ice rink he owned, federal authorities said Tuesday. The U.S. attorney’s office said John F....

Verizon, AT&T to pay $116 million for allegedly overcharging government agencies

Verizon and AT&T have agreed to pay $116 million to settle a lawsuit claiming that both carriers have overcharged government agencies for over a decade. The announcement, made on Thursday, relates to a lawsuit in which 30 government entities and a...

Head of Vatican’s saint-making Cardinal Becciu resigns amid financial scandal

The powerful head of the Vatican's saint-making office Cardinal Angelo Becciu, resigned Thursday from the post and renounced his rights as a cardinal amid a financial scandal that has reportedly implicated him indirectly. The Vatican provided no details on why Pope Francis accepted Becciu's resignation in a statement late Thursday....

FinCen Files: Banking Winds of Change

Authors: Álvaro Ruiz Ostos, Gustavo Fideney THE END OF AN ERA - IS IT? Yet again, we are writing about Financial Crime. Four years ago, the world turned upside down after the INTERNATIONAL CONSORTIUM OF INVESTIGATIVE JOURNALISTS (“ICIJ”) uncovered more than...

FinCEN and US Federal Banking Agencies Clarify Risk-Based Obligations on Politically Exposed Persons

Authors White & Case partner Michael Garcia, counsel Jeremy Kuester, associate Max Bonici and financial regulatory analyst Christen Boas Hayes   The US Financial Crimes Enforcement Network (FinCEN) and the federal banking agencies (Agencies)1 issued a joint statement on August 21, 2020, regarding Bank Secrecy...

Latest News

Former Blue Bell Creameries CEO indicted for fraud linked to 2015 listeria outbreak

The former president and CEO of Blue Bell Creameries L.P., a Texas ice cream company, was indicted Tuesday on wire fraud charges in connection with a scheme...

Judge opposed dismissal of bribery charge against former Portage mayor Synder

A judge denied Thursday two motions to dismiss a soliciting bribes charge former Portage Mayor James Snyder will be retried on, according to court...

Bribery trial of former San Angelo police chief Tim Vasquez delayed until 2021

The trial of former San Angelo police chief Tim Vasquez will not happen until 2021, according to court documents. The trial, originally set for...

Texas AG Ken Paxton fires second whistleblower who accused him of bribery

A second whistleblower has been fired from the Texas attorney general’s office after reporting his boss, Texas Attorney General Ken Paxton, to law enforcement for...

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