Auckland money laundering: police arrest 10, seize $10m in assets
17th March 2021
Auckland money laundering: police arrest 10, seize $10m in assets
Detective Inspector Lloyd Schmid said 12 warrants were carried out by the Financial Crime Group. More than $10 million worth of assets including four properties and three vehicles in St Heliers, Kumeu and New Lynn, and $200,000 worth of jewellery, were seized. Police also restrained 23 bank accounts, as well… Read More
Sydney lawyer Mark O’Brien jailed for spending money meant for charities on new multi-million dollar Bondi home
16th March 2021
Sydney lawyer Mark O’Brien jailed for spending money meant for charities on new multi-million dollar Bondi home
A disgraced Sydney solicitor has been jailed for 10 years after misappropriating more than $6 million that deceased clients had left for charities. Mark Leo O’Brien, 64, formerly of the Edgecliff firm Harrington, Maguire and O’Brien, was sentenced to a maximum of 10 years, with a non-parole period of six years, for… Read More
Spanish police arrest biggest cocaine gang in Madrid
15th March 2021
Spanish police arrest biggest cocaine gang in Madrid
A red Ferrari worth 250,000 euros ($298,800.00) and an arsenal of weapons including revolvers and a Japanese sword were seized when 12 members of the largest drugs gang in Madrid were arrested, police said on Sunday. The gang was very violent, according to Spain’s National Police, which found three daggers… Read More
Malta: €10,000 cash cap on property transactions becomes law
15th March 2021
Malta: €10,000 cash cap on property transactions becomes law
Cash transactions of over €10,000 involving property and valuable items have been outlawed under a legal notice under the Prevention of Money Laundering Act. In an attempt to clamp down on money laundering, Malta has published a legal notice, bringing into law capping the amount of cash that can be… Read More
From a Miami Mansion, an Alleged Mobster Amasses Albanian Property
12th March 2021
From a Miami Mansion, an Alleged Mobster Amasses Albanian Property
By Lindita Cela, OCCRP, 11 March 2021 OCCRP — From his apartment overlooking the picturesque Narta lagoon in Albania’s south, 72-year-old Jorgaq Subashi can glimpse the land he was awarded in 1993 as part of the government’s attempt to return property seized under communist rule. But he… Read More
French Draft Law Is a Warning to Corrupt Leaders
10th March 2021
French Draft Law Is a Warning to Corrupt Leaders
France may soon join just a handful of countries, including the United States and Switzerland, with far-reaching legislation aimed to repatriate confiscated stolen assets to their countries of origin. A luxury townhouse on Avenue Foch — one of Paris’ chicest addresses — is caught up in a yearslong legal battle… Read More
‘I Might Buy it All’: Albania Fights Losing Battle against Money Laundering
10th March 2021
‘I Might Buy it All’: Albania Fights Losing Battle against Money Laundering
In 2019, when Skender Methasani, who works at Albania’s Agency for the Administration of Sequestered or Confiscated Properties, took over running of a poultry farm called ‘Rens 2015’ in the northern Albanian region of Shkodra, he found that the chickens were too old to lay eggs. Yet someone had spent… Read More
Brazil Supreme Court Judge Annuls Lula’s Carwash Convictions
9th March 2021
Brazil Supreme Court Judge Annuls Lula’s Carwash Convictions
Brazilian markets tumbled after Supreme Court Justice Edson Fachin annulled former President Luiz Inacio Lula da Silva’s convictions in the Carwash corruption probe, clearing the way for the leftist leader to run again for the nation’s top job if he so chooses. Stocks fell 4% on the news, by far… Read More
Crimean Opera House Pulls Back Curtains On Russian Sanctions Loophole
4th March 2021
Crimean Opera House Pulls Back Curtains On Russian Sanctions Loophole
Sanctions have prohibited companies from doing business with the Russian authorities controlling Crimea for more than six years, but Western participation in the development of a bold, seagull-inspired opera house flies in the face of that ban. The Sevastopol State Opera and Ballet Theater, designed by the avant-garde Austrian architectural… Read More
FATF Seeks Financial Sector Input on Proliferation Financing Guidance
3rd March 2021
FATF Seeks Financial Sector Input on Proliferation Financing Guidance
The Financial Action Task Force (FATF) launched a public consultation on Monday seeking public- and private-sector feedback on pending guidance that would task financial institutions with doing more to stop the proliferation of weapons of mass destruction. The consultation marks the second such call by the intergovernmental organization, which in… Read More
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