16th October 2020
A former Mexican defense minister was arrested on Thursday night after arriving at Los Angeles International Airport with his family, according to the Mexican government, becoming the first high-ranking military official to be taken into custody in the United States in connection with drug-related corruption in his country. The former… Read More
16th October 2020
Wells Fargo & Co. fired more than 100 employees suspected of improperly collecting coronavirus relief funds, according to a person with knowledge of the situation. The firm determined that the staffers defrauded the Small Business Administration “by making false representations in applying for coronavirus relief funds for themselves,” according… Read More
16th October 2020
By Ana Poenariu (RISE Project) and Mohammad Bassiki (SIRAJ), OCCRP, 15 October 2020 OCCRP — The Art Deco-style mansion at 47 Paris Street in Bucharest was never going to be cheap. It measures over a thousand square meters, sits in a prime neighborhood favored by diplomats, and was built by… Read More
16th October 2020
Angolan prosecutors have seized assets belonging to two of former President Jose Eduardo dos Santos’s closest aides, the latest step in a crackdown on corruption in the southern African country. Assets including a brewery and a vehicle assembly plant held by general Manuel Helder Vieira Dias, known as Kopelipa, and… Read More
16th October 2020
Spain has extradited a fugitive former Iranian executive implicated in a large financial corruption case, in what Iran’s judiciary says is the first such extradition from Europe. Alireza Heydar Abadipour, the former CEO of Sarmayeh Bank, touched down at Imam Khomeini International Airport in Tehran, where media and police officials… Read More
16th October 2020
Billionaire Robert Smith will pay about $140 million and acknowledge wrongdoing to end a four-year U.S. tax investigation involving assets held in offshore tax havens, people familiar with the matter said. Smith, chief executive officer of the private equity firm Vista Equity Partners, informed some executives and investors of… Read More
16th October 2020
Brazil’s J&F Investimentos, which controls the world’s largest meatpacker, JBS SA, put an end to a long-running legal dispute in the U.S. over bribes it paid in Brazil, agreeing Wednesday to pay $128 million to settle the case. J&F admitted in 2017 to paying about $150 million in bribes… Read More
15th October 2020
The FinCEN Files, as they have been dubbed by the good folks over at BuzzFeed News and the International Consortium of Investigative Journalists (ICIJ), are certainly headline-grabbing stories and they raise a lot of questions about the efficacy of anti-money laundering (AML) compliance around the globe. Seeing that the Suspicious… Read More
15th October 2020
AP – Police and Mexico’s federal anti-money laundering agency said Tuesday they have frozen 1,352 bank accounts that allegedly moved about $125 million on behalf of 14 crime gangs, including some of Mexico’s biggest drug cartels. While Mexico City officials have long denied that cartels operate in the capital,… Read More
15th October 2020
U.S. unemployment claims, which have surged during the coronavirus pandemic, are amplifying a compliance risk for financial institutions: unemployment insurance fraud. The Treasury Department’s Financial Crimes Enforcement Network issued an advisory Tuesday, alerting banks to red flags that could indicate illicit activity, including emerging schemes exploiting vulnerabilities created by the… Read More