Featured Embezzlement

El Salvador Protects Accounts of Suspected Money Launderers

By Shane Sullivan, InSight Crime, 13 January 2021 InSight Crime – The head of El Salvador’s financial regulatory agency has instructed banks not to close the accounts of suspected or formally accused money launderers, the latest in a long line of incidents that expose the country’s hollow fight… Read More

AUSTRAC reviewing data on Vatican money transfers

The Australian government’s financial intelligence agency is reviewing its data after questions were raised about its report that $US1.8 billion ($2.3 billion) were transferred from the Vatican to Australia over six years. The agency, AUSTRAC, said it was working with the Vatican to get to the bottom of the… Read More

Salvadoran court orders ex-president to return $4.4 million in stolen funds

A civil court in El Salvador on Tuesday found former President Elias Antonio Saca and his wife Ana Mixco guilty of “illicit enrichment” and ordered them to return $4.4 million to state coffers, authorities said. Prosecutors had found irregularities in the couple’s wealth declaration and accused both of transferring public… Read More
6th January 2021
The trial of entrepreneur Tiiu Jarviste and her two fellow accused in a large-scale money laundering case began at the Harju County Court on Tuesday with all of the accused pleading not guilty to the charges. Facing trial in addition to Jarviste, 56, are also Aleksei Dremov, 40, and Andrii… Read More
4th January 2021
The Federal Board of Revenue (FBR) has begun investigating incumbent National Bank of Pakistan (NBP) President, Arif Usmani, for his alleged offshore assets worth billions of rupees. Sources privy to the information told Profit that the incumbent NBP president has stashed assets worth $11,481,440, equivalent to Rs1.8 billion, in Citi… Read More
1st January 2021
“Meet Tal Dilian, one of the oldest hands in the often murky world of cyber surveillance. The ex-Israeli intelligence officer is showing us one of his new toys, a 9 million dollar van full of NSA level surveillance kit that he claims can hack a smartphone and snoop on all… Read More
31st December 2020
Police and prosecutors will be forced to retreat to decades-old tools for cooperation despite a last-minute Brexit trade deal, raising the risk of fumbles. The pact between Britain and the European Union allows cooperation between the U.K. and member states, particularly as part of investigations into terrorism and serious crime,… Read More
31st December 2020
U.S. prosecutors on Wednesday accused Ukrainian tycoon Ihor Kolomoisky and another Ukrainian businessman of using misappropriated funds to buy real estate in Ohio, following earlier similar U.S. allegations involving property in Kentucky and Texas. Kolomoisky, one of the most prominent tycoons in Ukraine and regarded as a key political backer… Read More
30th December 2020
The Kremlin critic Alexei Navalny will face arrest if he returns to Russia after investigators charged him yesterday with large-scale fraud. Mr Navalny, 44, was accused of embezzling 588 million roubles (£5.8 million) in public donations to his FBK anti-corruption group. Investigators said he had spent the money on foreign… Read More
21st December 2020
A woman who spent £16 million in Harrods has lost her legal battle against the UK’s first Unexplained Wealth Order (UWO). Zamira Hajiyeva, the wife of an Azerbaijani banker, was targeted by the National Crime Agency (NCA) in 2018 after details of her lavish spending habits were revealed and it… Read More
21st December 2020
Illicit funds from Azerbaijan were used by a London couple to fly female models to Ibiza by private jet and pay school fees, a court has been told in a case being conducted under a veil of secrecy. The National Crime Agency alleges that the spending came from nearly £14 million of corrupt… Read More
17th December 2020
A former Venezuelan national treasurer and her husband were indicted by a Miami federal grand jury Tuesday on charges of accepting millions in bribes from a billionaire businessman who paid them through U.S. bank accounts so he could make a fortune off the Venezuelan government’s lucrative currency exchange system. Former… Read More
15th December 2020
A “star” bank manager from Beijing has been jailed for life for stealing the equivalent of US$400 million from clients and using the money to finance her lavish lifestyle. Zhang Ying, the former head of the Hangtianqiao branch of China Minsheng Bank in Beijing, was found guilty of using fake… Read More