Featured Caribbean

SocGen Ordered to Return $150 Million of Allen Stanford Ponzi Cash

Societe Generale SA was reprimanded by a Swiss court and ordered to give up $150 million deposited by convicted fraudster Allen Stanford that it had fought for nearly a decade to keep. The court ruled that Societe Generale failed to do proper due diligence before accepting Stanford’s money. The… Read More

Hugo Chavez’s ex-nurse indicted in US for money laundering

AP – Hugo Chávez’s former nurse has been charged with money laundering in a Miami federal court, accused of taking bribes from a billionaire media mogul to green light lucrative currency transactions when she served as Venezuela’s national treasurer. Claudia Díaz and her husband, Adrían Velasquez, were accused of… Read More

Arrest warrants issued for founders of Panama Papers firm: report

Germany has issued international arrest warrants for the two founders of the firm at the center of the tax haven scandal exposed by the Panama Papers data leak, German media reported. Mossack Fonseca founders Juergen Mossack and Ramon Fonseca, suspected of tax evasion and associating with criminals, will be arrested… Read More
20th October 2020
Consider the current state of anti-money laundering efforts across the globe. Around 2% of global GDP is laundered annually, amounting to between $800B – $2T. Banks spend around $8B annually fighting it but affect only 0.1% of criminal finance. What we know then is that the ROI of… Read More
19th October 2020
On a sunny Friday in late January, investigators from the Australian Tax Office issued subpoenas and fired off letters as part of an unprecedented probe that reached around the world. It was a similar scene in Amsterdam, where investigators from the Dutch tax agency set about a similar task. So,… Read More
12th October 2020
Recent events in the British Virgin Islands and Cayman Islands are seen by some as an indication that Britain is showing signs of improving tax transparency in its overseas territories, although activists say more still needs to be done. Two years ago, an amendment made to UK anti-money laundering legislation… Read More
6th October 2020
By Alessandro Ford, InSightCrime, 5 October 2020 InSightCrime – A patrol ship in the Dutch Caribbean has caught over three tons of cocaine in a rapid series of seizures, displaying how regularly drug shipments traverse the area on their way to Europe and the United States. On September 8,… Read More
5th October 2020
Robert T. Brockman was just putting the finishing touches on a new private equity fund when worrisome news arrived. Law enforcement agents had raided the home of a tax lawyer in Texas who had worked for him. A Houston businessman who had made his fortune selling software to auto dealers,… Read More
28th September 2020
John Gerant has played several roles in his life — Miami police officer, pilot, Realtor, drug trafficker and informant for the Drug Enforcement Administration. His latest act: alleged facilitator in a multimillion-dollar global Ponzi scheme. Leaked documents from the U.S. Treasury Department show that Gerant and his son, Sean,… Read More
11th September 2020
Michael Jordan, Sandra Bullock and Paris Hilton holiday there. Justin Timberlake and Janet Jackson wrote lyrics about it. But, last week, the Caribbean island of Anguilla drew attention for other reasons. The paradisiacal tax haven slipped further down a key global transparency index, according to a new report by… Read More
4th August 2020
AP — It was 2014 and Venezuela’s former treasurer Claudia Díaz was looking for a safe haven to store the unexplained wealth she had accumulated over the years. Then-president Hugo Chávez, who she once served as a nurse, had recently died and with the election of Nicolás Maduro, the nation’s… Read More
13th July 2020
The trio of clients that got Deutsche Bank AG in regulatory trouble this week had a shared back story: They were all castoffs of JPMorgan Chase and Co. Deutsche Bank moved millions of dollars across the globe for convicted sex offender Jeffrey Epstein in the past decade, and billions… Read More
9th July 2020
When Deutsche Bank AG sought out Jeffrey Epstein as a client, he was a convicted Florida sex offender with a publicized taste for young eastern European women. The bank helped him send millions of dollars to his alleged co-conspirators. It handled transfers to women with Russian bank accounts. And… Read More