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Prosecutors seek sale of luxury homes linked to stepson of Malaysian ex-PM

U.S. prosecutors are seeking to sell three luxury homes linked to the stepson of former Malaysian prime minister Najib Razak, court documents showed, in the latest effort to recover money allegedly stolen from Malaysian fund 1MDB. Malaysian and U.S. authorities allege that about $4.5 billion was misappropriated from 1Malaysia Development… Read More

NCA freezes £100m suspected to be from corruption overseas

More than £100m suspected to have been imported to the UK from bribery and corruption overseas has been frozen following a court order obtained by the National Crime Agency. Westminster magistrates’ court granted account freezing orders covering eight bank accounts holding in excess of £100m which is “suspected to have… Read More

B.C. gov’t seeks to seize properties allegedly linked to $165 million stock fraud

The B.C. government is suing to seize properties in the B.C. Interior that it alleges were linked to a $200-million-plus international stock fraud. In a lawsuit filed in B.C. Supreme Court this month, the B.C. Civil Forfeiture Office alleges a $1.6-million house on Mission Ridge Road in Kelowna and a… Read More

12th August 2019

Estonian prosecutor seizes 2 million euros from former Danske Bank employee

Estonian prosecutors said on Friday that last month they had ordered a local court to seize around 2 million euros ($2.24 million) from a bank account belonging to a former Danske Bank employee as part of an investigation into alleged money laundering. The money was sitting in a Latvian bank… Read More

12th August 2019

Latin America was making progress fighting corruption. Now impunity is roaring back.

Five years ago, everything changed in Latin America—or so it seemed. Investigations into a money-laundering operation in Brazil beginning in 2014 revealed a massive bribery scheme involving energy and construction companies. The “Car Wash” scandal saw dozens jailed and billions of dollars in fines—and implicated politicians in Argentina, Colombia, Peru and… Read More

8th August 2019

Ex-HSBC Banker Pleads Guilty in $1.8 Billion French Tax Case

The former chief executive officer of HSBC Holdings Plc’s Swiss private bank pleaded guilty to helping wealthy clients hide assets worth at least 1.6 billion euros ($1.8 billion) as French prosecutors flex their muscles to tackle white-collar crime. Peter Braunwalder was fined 500,000 euros and given a one-year suspended… Read More

5th August 2019

Serious Fraud Office prosecutes just four money laundering cases since 2014

The Serious Fraud Office (SFO) has received 153 reports concerning an allegation of money laundering since 2014, but prosecuted just four cases. The SFO figures, which were a response to a freedom of information request by law firm Greenberg Traurig, show the SFO received 41 reports containing money laundering allegations… Read More

1st August 2019

Key witness against DEA agent sentenced in conspiracy case

AP — The star witness in a U.S. investigation of a once-standout Drug Enforcement Administration agent was sentenced Wednesday to nearly four years in prison after implicating his longtime handler in a multimillion-dollar money-laundering conspiracy with the very Colombian cartel criminals he was supposed to be fighting. The 46-month sentence… Read More

1st August 2019

Dirty Money Spotlights Role of Family Offices as Enablers

The signs were there. Jahangir Hajiyev, chairman of the biggest bank in Azerbaijan, and his wife, Zamira, appeared to be living on dirty money. Between 2003 and 2015, the couple spent a fortune in the U.K. They dished out 11.5 million pounds ($14.3 million) for a townhouse in the ritzy… Read More

25th July 2019

Bernie Madoff asks Trump to reduce his prison sentence for massive Ponzi scheme

Notorious Ponzi schemer Bernie Madoff is asking that President Donald Trump reduce his 150-year prison sentence — a request that Madoff’s prosecutor promptly called “the very definition of chutzpah.” Madoff, 81, is currently locked up in a federal prison in Butner, North Carolina, for… Read More

24th July 2019

Turkish banker released from US prison in sanctions case

AP — A Turkish banker convicted of helping Iran evade economic sanctions has been released from a U.S. prison, his defense attorney said Tuesday. Mehmet Hakan Atilla was released from prison Friday and surrendered to U.S. immigration officials to await deportation, attorney Victor Rocco said. It was not immediately clear… Read More

22nd July 2019

Ex-Credit Suisse Banker Admits Kickbacks in Mozambique Scam

A former Credit Suisse Group AG banker admitted taking millions of dollars in kickbacks as part of a scam that involved as much as $2 billion in loans to Mozambique state-owned companies. Andrew Pearse, 49, a former managing director, made the admission Friday as he pleaded guilty… Read More

19th July 2019

Drugs, Guns and Robberies Lead to Freezes on 8 U.K. Properties

A U.K. court froze 10 million pounds ($12.5 million) of property that authorities suspect was bought with money from drug trafficking, armed robberies and supplying firearms. On July 12, the National Crime Agency secured a so-called Unexplained Wealth Order against eight properties owned by an unidentified businessman in the north… Read More

Must Read

Austrac flags tough action after being ‘flooded’ with money laundering breaches

Standard Chartered faces Treasury fine over sanctions breaches

Danske wields risk axe after Estonia money laundering scandal

Humanitarian Groups Face Banking Challenges as Venezuelan Sanctions Escalate

Malaysia set to begin biggest 1MDB trial involving ex-PM Najib