Friday, January 21, 2022

Money Laundering

U.S. bans Angolan billionaire Isabel dos Santos for corruption

The US will deny entry to Isabel dos Santos, once said to be Africa's richest woman, for "involvement in significant corruption". Her name appears on a list released by the State Department of people accused of corruption and who are...

Former D.E.A. agent gets 12 years in prison for role in drug money scheme

A former special agent with the Drug Enforcement Administration was sentenced to more than 12 years in prison on Thursday after he pleaded guilty to taking part in a wide-ranging conspiracy that used cash seized in undercover drug operations...

South African authorities arrest fugitive Portuguese banker

South African authorities have arrested a convicted Portuguese banker that had fled from the country in mid-September. "We first want to thank South African police authorities," Portugal's Judiciary Police director Luís Neves said, as he announced that banker João Rendeiro...

Finra Fines Wells Fargo $2 Million Over Record-Keeping Lapses

Over a 17-year period, two of the bank’s wealth management units—Wells Fargo Clearing Services and Wells Fargo Advisors Financial Network—failed to store approximately 13 million records for their customer identification program in the required format. The records pertained to...

Former Malaysian Prime Minister Loses Appeal of 1MDB Conviction

A Malaysian court on Wednesday upheld former premier Najib Razak's conviction on corruption charges over a multi-billion dollar scandal at state fund 1Malaysia Development Bhd (1MDB), dealing a blow to his hopes of a political comeback. Najib was appealing a...

Maldives’ top court overturns money-laundering conviction of ex-president Abdulla Yameen

Maldives' former president Abdulla Yameen was freed from house arrest on Tuesday after a top court overturned a money-laundering and embezzlement conviction, allowing him to potentially make a return to politics. Yameen was sentenced to five years in jail and...

Wife of Mexican drug lord ‘El Chapo’ gets 3 years in prison on US charges

The wife of Mexican drug kingpin Joaquin “El Chapo” Guzman was sentenced Tuesday to three years in prison after pleading guilty to helping her husband run his multibillion-dollar criminal empire. Emma Coronel Aispuro also helped her husband plan a dramatic...

Hong Kong watchdog charged former lawmaker Chim Pui-chung with fraud, money laundering

Hong Kong’s anti-corruption watchdog on Friday charged former lawmaker Chim Pui-chung and his son conspiracy to defraud the Hong Kong Stock Exchange and a listed company over an alleged “backdoor listing” agreement and money laundering. The ICAC said that Chim,...

Hong Kong fines ICBC, UBS units, others $5.7m for violating anti-money laundering rules

Hong Kong's banking regulator has fined four banks, including local units of Industrial and Commercial Bank of China (601398.SS) and UBS (UBSG.S), a combined HK$44.2 million ($5.67 million) for breaches of anti-money laundering rules. The four banks had failed to...

Montenegro President Milo Djukanovic faces probes over alleged involvement in money-laundering ring

Montenegro’s specialised prosecution has launched a probe into allegations by Albanian oil businessman Rezart Taci that President Milo Djukanovic has been participating in an international money laundering scheme, public broadcaster RTCG reported on November 17. Earlier in November, BIRN published...

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...