Featured Real Estate

US moves to seize $330m of alleged 1MDB assets held by UK law firm

The US Department of Justice (DoJ) has moved to seize $330m (£256m) held in the bank account of a major London law firm which prosecutors allege is derived from the proceeds of one of the world’s largest financial frauds. The DoJ has filed civil forfeiture proceedings against funds… Read More

Estonia: Foreign students falling victim to fictitious real estate ads

Swindlers are offering foreign students imaginary apartments for rent using false identities, addresses and other tricks of the trade. The police are all but powerless and urge people to stay vigilant as the scheme crosses more than one national border, ETV investigative journalism show “Pealtnägija” reported on Wednesday. “Everything was… Read More

FIFA’s former No. 2 caught up in scandal had $11 million debt

A former FIFA official accused of accepting nearly $1.5 million in bribes told the Greek businessman accused of paying him the cash to delete most of their correspondence. Jerome Valcke, FIFA’s former secretary general, sent the message to Dinos Deris in October 2016, six months before Swiss federal prosecutors opened… Read More
17th September 2020
The Financial Crimes Enforcement Network said Wednesday that a significant overhaul of the nation’s anti-money-laundering regulatory framework is in the works. In an advance notice of proposed rulemaking, Fincen said it plans to firm up the definition of an “effective and reasonably designed” AML compliance program, something the regulator said… Read More
17th September 2020
Zineb Jammeh, the wife of Gambia’s former president, Yahya Jammeh, has been hit with U.S. sanctions for her role in the economic plunder of the tiny West African county during her husband’s 22-year rule, the U.S. Treasury said on Tuesday. Yahya Jammeh stole at least $50 million of state funds… Read More
17th September 2020
With a goatee beard and an impish demeanor, 33-year-old Chen Zhi makes for an unlikely “oknha,” the honorific title bestowed on businessmen who donate at least $500,000 to public works approved by the ruling Cambodian People’s Party. Such sums are pocket change to the likes of Chen, one of a… Read More
17th September 2020
The U.S. Treasury on Tuesday imposed sanctions on China’s Union Development Group, the company behind the controversial Dara Sakor tourism development on Cambodia’s coast. The Treasury’s stated reason was that UDG intimidated and evicted families from their homes on the company’s 45,000 hectare concession to make way for the development… Read More
15th September 2020
The Federal Investigation Agency (FIA) has reportedly prepared a list of at least 20 reconditioned car importers who, it claims, have been involved in the Hawala and Hundi transfers of about Rs40 billion. “None of the car dealers (importing reconditioned cars) maintained any legal payment ledger for the transactions,” said… Read More
15th September 2020
International perpetrators of genocide and torture, but not corruption, are to face new-model EU sanctions, a leaked document shows. Those guilty of crimes against humanity, slavery, extrajudicial killings, enforced disappearances, and arbitrary arrests will also face EU asset-freezes and visa-bans. And those responsible for human-trafficking, sexual violence, and abuses of… Read More
15th September 2020
AP — Prosecutors in Brazil’s sprawling Car Wash corruption investigation on Monday charged former President Luiz Inácio Lula da Silva with money laundering, less than a year after the country’s top court ordered him freed from jail while he appealed his conviction in another case. Prosecutors said the left-leaning… Read More
15th September 2020
The Philippines is in danger of being included anew in the gray list of Paris-based dirty money watchdog Financial Action Task Force (FATF) if the country fails to pass the necessary amendments to the anti-money laundering law, according to the Anti-Money Laundering Council (AMLC). AMLC Secretariat executive director Mel Georgie… Read More
14th September 2020
Brazilian authorities blocked assets worth 230 million reais ($43 million) as part of a probe into drug trafficking and money laundering in two countries, according to a statement from Brazil’s federal police on Friday. Some 42 properties, two farm estates, 75 vehicles, boats and aircraft were being seized in Brazil,… Read More
14th September 2020
B.C. Supreme Court has stipulated that a Mexican businessman must produce documents within 30 days in a B.C. forfeiture case. The case involves two Kelowna-areas properties the province alleges were used to launder money linked to a $200-million plus international stock fraud. Following the consent of the parties, the court… Read More