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Money laundering: UK Lawyer helped fraudsters, gangsters in 80 property deals

A solicitor who provided conveyancing services for a gang of drug dealers and fraudsters and helped launder their dirty cash has been jailed for seven years. Police discovered the Handforth-based professional’s activities while investigating the operation of an organised crime gang that had been laundering the proceeds of their criminal… Read More

Third former Tesco director cleared of fraud over 2014 scandal

The last of three former senior directors of Tesco (TSCO.L) accused of fraud at Britain’s biggest retailer in 2014 has been formally acquitted, leaving the Serious Fraud Office without a conviction for the accounting scandal. Carl Rogberg, 52, a former Tesco UK finance director, was tried last year along with… Read More

China demands US drop Huawei extradition request with Canada

AP — China on Tuesday demanded the U.S. drop a request that Canada extradite a top executive of the tech giant Huawei, shifting blame to Washington in a case that has severely damaged Beijing’s relations with Ottawa. Foreign Ministry spokeswoman Hua Chunying said Meng Wanzhou’s case… Read More

22nd January 2019

UK: Firm laundered cocaine dealers’ cash through buying property; assets seized

Britain’s National Crime Agency (NCA) has seized a property worth £1.7 million from a Staffordshire-based woman who, with her firm, used money from drug dealers to purchase a number of properties. A Civil Recovery Order by Consent was made at the High Court in London on 14 January, leading to… Read More

18th January 2019

UK: HMRC announces Top 10 prosecutions of 2018

The United Kingdom’s tax authority HM Revenue and Customs (HMRC) has published a list of its top cases of 2018, which features money launderers, smugglers and a globe-trotting tax fugitive. HMRC said its fraud investigations have led to 671 individuals being convicted in over the last 12 months for their… Read More

18th January 2019

Old money: Belgium fines 92-year-old fraudster

A 92-year-old woman who defrauded the Belgian tax authorities of millions of euros over many decades was spared jail on Wednesday but must pay over 4 million euros in fines and back taxes. Branded by prosecutors as “maniacal” about managing her money, the woman named only as Betty W., won… Read More

15th January 2019

Money laundering: UK govt, banks in new taskforce

The United Kingdom is set to launch a new initiative aimed at tackling financial crime such as money laundering, fraud and bribery. The new taskforce, to be known as the Economic Crime Strategic Board, will comprise government ministers, law enforcement figures and the bosses of Barclays, Santander and Lloyds… Read More

11th January 2019

EU anti-fraud system is ineffective, auditors say

The European Union is failing to stem misuse of EU funds worth hundreds of millions of euros each year, and manages to recoup only about 15 percent of this sum, auditors said on Thursday. Fraudulent use of EU funds amounted to 391 million euros($451 million) in 2017, fairly typical of… Read More

9th January 2019

London fraud: Chinese restaurant owner made millions, declared just £2,000 income

A North London man who falsely claimed his business was a small pottery unit when it was in fact a profitable cash-generating Chinese restaurant has been jailed. The businessman owned outlets in North Greenwich and at Gun Wharf Quays shopping centre in Portsmouth, Hampshire. He failed to declare cash… Read More

9th January 2019

New documents link Huawei to suspected front companies in Iran, Syria

The U.S. case against the chief financial officer of China’s Huawei Technologies, who was arrested in Canada last month, centres on the company’s suspected ties to two obscure companies. One is a telecom equipment seller that operated in Tehran; the other is that firm’s owner, a holding company registered… Read More

7th January 2019

Audits reveal Deutsche Bank’s links to tax trade scandal

There are “lots of indications” that some managers discussed “the reputational risks” of Deutsche Bank’s involvement in a share-trading scheme that is the subject of Germany’s biggest post-war fraud investigation, according to a conclusion in one of five internal audits seen by Reuters. The bank issued tax certificates for withholding… Read More

2nd January 2019

Banking: Wells Fargo fined $575 million by 50 states regarding scandals

Wells Fargo has agreed to pay $575 million to 50 states and the District of Columbia over its fake bank accounts scandal and harmful mortgage charges. The bank will also implement a consumer redress review program, where customers who have not been made whole through other restitution programs can… Read More

1st January 2019

University of Mississippi to return most of $400,000 given by Ponzi convict

Ole Miss to return most of $400,000 given by Ponzi convict AP — The University of Mississippi has agreed to return most of the $400,000 its athletic foundation was given by a businessman who pleaded guilty to a $100 million Ponzi scheme. The Clarion-Ledger reports that the federal… Read More

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Money laundering: UK Lawyer helped fraudsters, gangsters in 80 property deals

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