Monday, July 26, 2021

Money Laundering

Former Georgia insurance commissioner Jim Beck convicted in $2.5m embezzlement case

It took less than two hours Thursday for jurors to decide that Georgia’s suspended insurance commissioner was indeed a “fraudster” and not an innovator, as they convicted Jim Beck on 37 criminal counts relating to more than $2.5 million...

El Salvador orders arrest of ex-President Sanchez Ceren in corruption probe

El Salvador has ordered the arrest of former president Salvador Sanchez Ceren and nine top officials from a past administration as part of a money laundering and corruption probe, the Attorney General's office said on Thursday. The office said Sanchez...

Reserve Bank of New Zealand fines TSB $3.85m for money-laundering failures

TSB has agreed to pay $3.85 million in penalties after acknowledging it failed to comply with rules designed to prevent the bank being used for money-laundering. TSB and the Reserve Bank, which polices anti-money laundering (AML) rules, presented the settlement...

Italy probes Lombard International Assurance over allegations of tax evasion, money laundering

Milan prosecutors are investigating Lombard International Assurance (LIA), a Luxembourg-based insurer owned by U.S. fund Blackstone (BX.N), due to allegations of tax evasion and money laundering, two judicial sources said. Newspaper Sole 24 Ore had reported the investigation on Wednesday and...

EU signals new watchdog to fight money laundering

EU policymakers proposed a new agency on Tuesday to stop financial firms from aiding criminals and terrorists after a scandal at a Danish bank highlighted the inadequacy of the bloc's defences. Europe came under pressure to step up enforcement of...

Movie producer Jordan Dillon accused of running international prostitution ring and money laundering

Federal authorities have accused movie producer Dillon Jordan of money laundering and operating a prostitution ring throughout the United States and abroad. According to a statement from Manhattan U.S. Attorney Audrey Strauss, Jordan has been charged with one count of conspiracy...

Bosnia’s intelligence chief detained over money laundering allegations

The Bosnian police have arrested the country’s intelligence chief on accusations of money laundering and abusing his office to forge university diplomas. Osman Mehmedagic, the head of the Intelligence-Security Agency (OSA), was arrested on Wednesday at the request of state...

Portugal ex-minister Armando Vara sentenced to two years in prison for money laundering

The former minister and former director of Caixa Geral de Depósitos bank, Armando Vara has been sentenced on Tuesday to an effective sentence of two years in prison for the crime of money laundering. Reading the judgment at the Lisbon...

Head of Kiryas Joel religious charity gets 6 months in jail for laundering illicit money

Arnold Klein, the head of a religious charity that laundered illicit money has been sentenced to six months in federal prison. U.S. District Judge Kenneth M. Karas also sentenced Klein, of Kiryas Joel, Orange County, to two years of supervised...

Robinhood crypto unit expects $10m fine from New York regulators over cyber, anti-money laundering breaches

The cryptocurrency brokerage of Robinhood Markets Inc. expects to pay New York regulators a penalty of at least $10 million for allegedly violating state rules on cybersecurity and anti-money-laundering practices, the company said in filings last week. The unit, Robinhood...

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Former Richardson Mayor and developer husband convicted for bribery and tax evasion

Former Richardson Mayor Laura Maczka, now Laura Jordan, and her developer husband Mark Jordan, were found guilty Friday, July...