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Miami financial advisor pleads guilty to laundering millions in PetroEcuador bribery case

A Miami financial advisor who faced trial Tuesday on corruption and money-laundering charges that implicated Ecuador’s national oil company and Brazilian construction giant Odebrecht has decided to plead guilty. Frank Roberto Chatburn Ripalda, who has American and Ecuadorian citizenship, admitted in a plea agreement that he used the U.S. financial… Read More

U.S. senators call for probe of Brazilian meatpacker JBS

Two U.S. senators called on the U.S. Treasury on Tuesday to open an investigation into the world’s largest meat processing company, Brazil’s JBS S.A. (JBSS3.SA), due to alleged ties with the Venezuelan government of leftist President Nicolas Maduro. President Donald Trump’s government has imposed sanctions on dozens of… Read More

Lava Jato Links Five Major Brazilian Banks to R$1.3 Billion Money Laundering Scheme

According to findings based on two operational stages carried out this year, funds used for the payment of bribes were transferred through Banco do Brasil, Bradesco, Caixa, Itaú, and Santander. In all, the accounts opened in the name of front companies operated… Read More

30th September 2019

Banco do Brasil managers targeted in $48 million money laundering probe

Brazilian police on Friday raided the homes of Banco do Brasil (BBAS3.SA) managers suspected of involvement in a 200 million reais ($48 million) money laundering scheme, police said, the latest phase of Brazil’s massive Car Wash corruption scandal. According to the Federal Public Prosecutors office, police are investigating… Read More

24th September 2019

‘Rio Treaty’ Nations to Cooperate on Sanctions on Venezuela’s Maduro

Western Hemisphere nations voted Monday to employ a regional treaty to impose sanctions against embattled Venezuelan leader Nicolás Maduro, accusing his regime of criminal activity including drug trafficking and money laundering. In a meeting convened by the Organization of American States, 16 of the 19 states party to the Inter-American… Read More

16th September 2019

Brazil Supreme Court chief says money laundering unit overreached

A Brazilian government agency monitoring money laundering, at the heart of the recent fight against corruption, has repeatedly overreached by acting without judicial approval, the head of the country’s Supreme Court told Reuters. The Council for Financial Activities Control (COAF) has faced scrutiny since uncovering suspicious deposits in the account… Read More

13th September 2019

Skirting U.S. sanctions, Cubans flock to cryptocurrency to shop online, send funds

Jason Sanchez, 35, was able to start buying spare parts online last year for his cellphone repair shop in Havana thanks to the advent of cryptocurrency trading in Communist-run Cuba. Cuba, which in many ways remains stuck in the analogue past, may seem an unlikely hotbed for cryptocurrencies – digital… Read More

11th September 2019

New U.S. sanctions target Hamas, Islamic State, other groups

The United States on Tuesday announced sanctions on a “wide range of terrorists and their supporters,” including the Palestinian group Hamas and Iran’s Islamic Revolutionary Guards Corps, on the eve of the 18th anniversary of the Sept. 11 attacks. The targets include 15 leaders, individuals and entities affiliated with groups… Read More

11th September 2019

Brazil arrests former minister’s son for bribes linked to giant dam

Brazilian authorities arrested a former energy minister’s son on Tuesday for allegedly receiving 50 million reais in bribes ($12 million) together with his father, involving the construction of a giant dam. Marcio Lobao, the son of former senator and energy minister Edison Lobao, had already been publicly targeted by police… Read More

9th September 2019

Odebrecht Ordered to Pay Charity Because it Paid Bribes

Brazilian construction conglomerate Odebrecht SA agreed to pay US$50 million to NGO and charities as part of a settlement to resolve allegations that its subsidiary bribed public officials in two projects financed by the Inter-American Development Bank (IDB), the IDB Group, which is the leading source of development finance… Read More

6th September 2019

Paraguay Currency Exchanges Launder Vast Amounts of Brazil Drug Money

Brazilian criminal gangs were able to use official currency exchanges in Paraguay to launder over $1.5 billion in drug money, showing how the country continues to be a paradise for organized crime groups seeking to hide their profits. An investigation in early August by Brazilian police in the city of Foz… Read More

6th September 2019

Brazil ‘Car Wash’ corruption probe facing ‘worst moment’ as establishment fights back

Brazil’s biggest-ever corruption investigation, which jailed dozens including a former president, has been threatened over the past week by a Supreme Court ruling and push back from politicians seeking to curb investigative powers. For the first time, justices of the top court have annulled a corruption conviction by the judge… Read More

27th August 2019

BTG Sheds $5 Billion in Value Over Two Days Amid New Allegations

Banco BTG Pactual SA extended a two-day plunge as new allegations added to an ongoing investigation targeting the Brazilian bank. Shares slumped as much 30% on Monday as local website O Antagonista said Brazil’s police are investigating allegations that the bank had a department advising clients on money laundering. Read More

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