Featured Real Estate

Vatican police make new raid in investigation of London property deal

Vatican police raided the home and office of a senior Catholic Church official on Tuesday, seizing documents and computers in the latest phase of an investigation into the purchase of luxury London real estate. The raid targeting Monsignor Alberto Perlasca followed the suspension last year of five Vatican employees, the… Read More

Australia urged to pass Magnitsky human rights law or risk becoming haven for dirty money

The man who spearheaded the United States’ Magnitsky Act – targeting sanctions against human rights violators around the world – has told Australia it risks becoming “a magnet for dirty money” from abusers and kleptocrats across the globe unless it brings in similar legislation. US financier Bill Browder, who championed… Read More

Mormon in $470m fraud bought homes and supercars

A California businessman teamed up with a senior member of a secretive polygamist sect to defraud the US government of $470 million which he then used to buy fast cars and luxury homes, a court was told. Lev Dermen, the owner of a chain of Californian truck stops, and Jacob… Read More
17th February 2020
An Italian appeal court gave its verdict in a criminal case against two former officials of the Holy See’s Institute for the Works of Religion — often mistakenly styled the “Vatican Bank” — earlier this month: Not guilty. The IOR’s ormer director and vice-director  respectively, Paolo Cipriani and Massimo Tulli,… Read More
14th February 2020
A mafia gang that laundered money illegally obtained in Italy has been busted in the Canary Islands. This investigation has led to the blocking and seizure of 37 properties and 19 companies worth approximately 14 million euros. The Civil Guard and the Tax Office, together with the Carabinieri Force of… Read More
13th February 2020
A European money laundering watchdog has cautioned that a secretive investment-for-passports program run by Cyprus was vulnerable to money laundering and fraught with risk. The Mediterranean island launched the scheme offering passports for an investment in 2013, with more than 3,000 people gaining citizenship through the program. A committee of… Read More
12th February 2020
Fugitive financier Low Taek Jho faces new charges in Malaysia along with PetroSaudi International directors Tarek Obaid and Patrick Mahony over their alleged roles in the 1MDB scandal. The three are accused of engaging in criminal conspiracy with Malaysia’s former Prime Minister Najib Razak, while Mahony and Obaid face additional… Read More
11th February 2020
The son of Equatorial Guinea’s leader and its vice president, notorious for his colourful lifestyle and lavish spending, was handed a three-year suspended jail sentence and a €30m (£25m) fine for graft by a Paris court on Monday, confirming his guilt in one of a string of high-profile “ill-gotten gains”… Read More
11th February 2020
AP — Prosecutors opened what some are calling Ecuador’s trial of a century Monday against former President Rafael Correa and 20 other high-ranking politicians and business leaders accused of operating a multimillion-dollar bribery scheme. If convicted, the man who ruled Ecuador for a decade could be barred from running for… Read More
7th February 2020
The Financial Action Task Force (FATF) is notionally a technical body that sets standards and promotes effective implementation of legal, regulatory and operational measures for combating financial crime threats to the integrity of the international financial system. As well as setting standards it also conducts periodic reviews of countries’… Read More
6th February 2020
A woman who blew £16m of unexplained wealth in Harrods has lost her appeal against a National Crime Agency bid to seize her luxury London home. The Court of Appeal has rejected Zamira Hajiyeva’s attempt to stop the UK’s first ever Unexplained Wealth Order from being implemented against her. Mrs… Read More
6th February 2020
Brazilian construction giant Odebrecht SA has agreed to extend the monitorship and other terms of its plea agreement with the U.S. Justice Department for almost nine months, according to court filings. Odebrecht pleaded guilty in 2016 to a criminal charge of allegedly conspiring to violate U.S. foreign bribery laws and… Read More
5th February 2020
One day in early 2017, Mike Offit went to the Yale Club in Manhattan for a lunch hosted by a group called Business Executives for National Security. Offit, who has a craggy face and shoulder-­length hair, had spent much of his career in banking, but that had ended nearly two… Read More