Friday, August 19, 2022

financial crime

Former New York Supreme Court Justice Sentenced for Bribery Scheme

A former state Supreme Court justice and a former Democratic power broker from western New York were sentenced to prison on Thursday for their roles in a bribery scheme, which authorities say influenced judicial decisions and official appointments. G. Steven...

Money Laundering Seen a High Risk Threat for South African Banks

South Africa’s banking regulator said there is a high risk of money laundering and terrorist financing activity in the industry, citing the extensive use of cash and exposure to overseas lenders. The Prudential Authority of the South African Reserve Bank in a...

Review of U.K.’s Serious Fraud Office Details Missteps in Unaoil Bribery Case

An independent review of how the U.K.’s Serious Fraud Office handled a bribery case linked to Unaoil Group that has led to three acquittals has shed light on gaps in the white-collar-crime prosecuting agency’s operations and culture. The review was...

Former Tokyo Olympic executive’s home raided on suspicion of bribery

Tokyo prosecutors on Tuesday raided the home of a former executive of the Tokyo Olympic organizing committee on suspicion he may have received bribes from a sponsor, according to local media reports. The prosecutors searched the residence, the headquarters of...

Deutsche Bank Settles Money-Laundering Case for $7.1 Million

Deutsche Bank AG settled a probe by Frankfurt prosecutors looking into whether the bank violated money-laundering prevention rules for 7.01 million euros ($7.1 million). The bank agreed to pay the amount and accepted an administrative penalty notice, the lender said in...

Producer Jason Van Eman Sentenced to 21 Years in Prison Over $60M Fraud Scheme

Jason Van Eman, a producer and former actor, has been sentenced to 21 years in prison for defrauding investors out of more than $60 million. A federal judge in Florida delivered the sentence on Thursday after a jury found Van...

US places former Paraguayan president on corruption list

A former president of Paraguay who has been investigated for his alleged participation in money laundering operations was included on Friday on a U.S. corruption list. The Department of State announced the designation of former President Horacio Manuel Cartes “for...

Guatemala’s former economics minister pleads guilty to using Miami bank accounts to pay bribes

A former high-ranking government official in Guatemala has pleaded guilty in Miami federal court to conspiring to commit money laundering while paying hundreds of thousands of dollars in bribes to Guatemalan politicians through the U.S. banking system.  Acisclo Valladares Urruela,...

Film producer pleads guilty in fraud investment scams

A movie producer has pleaded guilty to several counts of fraud and money laundering arising from his fraudulent promotion of two cryptocurrency investment schemes, federal prosecutors said. Ryan Felton, 48, entered the plea on the fourth day of his jury...

South Africa: President Ramaphosa to face subpoena over Phala Phala farm scandal

South Africa’s corruption watchdog has said it will invoke subpoena powers to get answers from President Cyril Ramaphosa over the alleged concealment of a theft at his luxury farmhouse. On Tuesday, the Public Protector’s Office said a deadline for Ramaphosa...

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India seizes $46 million from crypto exchange Vauld in money-laundering probe

India’s anti-money laundering agency has frozen assets worth $46.4 million from the local entity of Vauld for facilitating “crime-derived”...