Friday, September 17, 2021

Money Laundering

Victims of Madoff Ponzi scheme to get additional $568M payout

The Justice Department announced Thursday that additional funds totaling more than $568 million have been distributed to nearly 31,000 victims of the Bernard L. Madoff Investment Securities LLC (BLMIS) fraud scheme. The agency said the Madoff Victim Fund's (MVF) seventh distribution in funds forfeited...

Mexico sentenced drug lord Vicente Carrillo Fuentes to 28 years for money laundering, organized crime

A judge in Mexico has sentenced drug lord Vicente Carrillo Fuentes to 28 years in prison for organized crime, money laundering and weapons violations, prosecutors announced Tuesday. Carillo Fuentes was a former leader of the Juarez drug cartel, based in...

Actor Zachary Horwitz set to plead guilty in $650 million Ponzi scheme

Zachary Horwitz, an actor in low-budget horror and science-fiction movies, has agreed to plead guilty to running a massive Hollywood Ponzi scheme. Horwitz, 34, admitted in court papers that he duped investors into giving him more than $650 million for...

German prosecutors raided finance, justice ministries in money laundering probe

German prosecutors raided the finance and justice ministries on Thursday as part of an investigation into the government’s anti-money laundering agency, putting a spotlight on Germany's failings in tackling financial crime. The probe into the Financial Intelligence Unit, an agency...

Armenia ex-Prosecutor General accused of bribery, embezzlement

The Special Investigation Service of Armenia has detained ex-Prosecutor General and the former head of the Investigative Committee Aghvan Hovsepyan. According to evidence obtained by the Special Investigation Service, Hovsepyan, while holding the position of the Prosecutor General from March 18,...

Former Rio Rico bank manager gets 30 months in prison for money laundering

A former Rio Rico bank manager was sentenced to 30 months in prison after pleading guilty to conspiracy to commit money laundering. According to the U.S. Department of Justice, 41-year-old Carlos Antonio Vasquez of Nogales took part in a scheme...

Former Front Royal EDA executive director indicted on fraud, money laundering charges

The former executive director of the Front Royal-Warren County Economic Development Authority now faces federal fraud and money laundering charges. A grand jury in the U.S. District Court for the Western District of Virginia in Harrisonburg handed up a 34-count...

Maltese business tycoon Yorgen Fenech charged with money laundering

Yorgen Fenech has been charged with money laundering and the misappropriation of funds from a company he owns with his uncle Ray Fenech. Fenech, who is facing separate charges in which he is accused of masterminding the murder of journalist Daphne...

Malta fines Pilatus Bank €5m over ‘total disregard’ of money laundering rules

The Financial Intelligence Analysis Unit has imposed an administrative penalty of €4,975,500 on Pilatus Bank in view of the notorious – and now defunct – bank’s ‘total disregard’ towards the necessary safeguards against money laundering or the financing of...

Former Manchester United player charged for role in crypto money-laundering scheme

Anderson, a former Brazilian football team and Manchester United Player, has been charged for allegedly being involved in a crypto money-laundering scheme. According to Globo, the retired midfielder was investigated by a court in Brazil after suspicions of his...

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Kenyan court sentenced former sports minister to six years for corruption

A Kenyan court on Thursday sentenced a former sports minister to six years in prison after finding him guilty...