Friday, January 21, 2022

Money Laundering

1MDB scandal may involve money laundering to China companies

A senior Ministry of Finance (MOF) official suspects that deals made with certain Chinese firms for certain projects were a mere façade used to siphon off 1MDB funds. This was revealed by Tony Pua, who is a special officer to...

Ex-Spanish king accused of money laundering

Spain’s former king Juan Carlos is once again in the spotlight after his former mistress claimed he was involved in money laundering, sparking calls for an investigation. The scandal broke after two Spanish websites published recordings attributed to Corinna zu...

Greek court rules to extradite Alexander Vinnik in $4 billion bitcoin laundering

A Greek court has ruled to extradite the alleged former operator of crypto exchange BTC-e, Alexander Vinnik, to France, local news outlet CNN Greece reported Friday, July 13. The 39-year old Russian national Vinnik, also known colloquially as “Mr. Bitcoin,” was indicted by U.S. authorities...

Switzerland releases $60 million seized in Angola money laundering scheme

Swiss authorities have released around $60 million of funds seized in an investigation into the suspected laundering of money diverted from Angola’s sovereign wealth fund and its central bank, federal prosecutors said on Friday. Switzerland’s Office of the Attorney General...

Malta’s FIAU breached anti-money laundering rules over Pilatus Bank

The European Banking Authority has issued a number of recommendations to Malta’s Financial Intelligence Analysis Unit, after it found that the Authority had breached money-laundering rules in relation to its supervision of Pilatus Bank. The recommendations came following a preliminary enquiry...

Puerto Rico mayor indicted for fraud and money laundering

The mayor of Sabana Grande, Puerto Rico, Miguel Ortiz, has been indicted and arrested for his participation in a conspiracy to “steal federal funds involving fraudulently obtained contracts” from the island’s Education Department, U.S. Attorney Rosa Emilia Rodríguez Vélez,...

Timeline: Danske Bank Money Laundering Scandal

Danske Bank DANSKE.CO is embroiled in a money laundering scandal that has triggered criminal investigations, forced out its CEO and chairman and rattled investors in Denmark's largest bank. An internal investigation, published in September, charted how 200 billion euro ($229 billion) flowed...

Former Piatra Neamt mayor gets new jail conviction

Former Piatra Neamt mayor Gheroghe Stefan was sentenced on Friday, June 29, to three years and three months in jail for money laundering, financial operations incompatible with his public position and using his influence and authority for getting undue...

FATF Gives Iran until October to Complete ‘Reforms’

The Financial Action Task Force (FATF) said Iran had until October to complete reforms that would “bring it into line with global norms or face consequences” that could further deter investors from the country. “The FATF is disappointed with Iran’s...

Latest News

Ex-Detroit Councilman Andre Spivey Sentenced To Two Years In Prison For Bribery

A federal judge sentenced former Detroit City Councilman Andre Spivey on Wednesday to two years in prison for bribery, capping the first case...