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Malaysia in bid to restrain PetroSaudi from using alleged 1MDB funds in UK firm

The government has filed an application seeking to prohibit PetroSaudi International and its director Tarek Obaid from using over US$340 million in alleged funds from 1MDB kept in a client’s account of a UK law firm. In the application filed on July 10, the government contended that the US$340,258,246.87 in… Read More

Botched Iran case adds to woes of SDNY, office upended by Barr

The story line seems familiar. U.S. prosecutors win a significant conviction. Then evidence emerges that suggests possible misconduct by investigators, and the prosecution asks the judge to dismiss the charges. It happened to Michael Flynn, the onetime Trump aide who’s on the verge of walking away from his guilty pleas. Read More

Venezuelan TV mogul’s Rolls-Royce at center of dispute with Miami federal prosecutors

Whenever Venezuelan media mogul Raúl Gorrín flew to Miami — before he was accused by the feds of stealing billions from his own government — he would stay at his waterfront estate in Cocoplum and tool around town in his Rolls-Royce Phantom Drophead Coupe. Now federal prosecutors want to take… Read More

7th July 2020

Iranian Military-Owned Conglomerate Sets Up Shop in Venezuela

An Iranian conglomerate owned by the country’s military and tied to its missile program has established a retail foothold in Venezuela, according to officials and records detailing the move, deepening Tehran’s involvement with the Maduro government. The Iranian firm is working with the Maduro government’s troubled emergency food program, which… Read More

3rd July 2020

Portmann channelled €120 million through Pilatus Bank, Malta inquiry hears

€120 million in financial transactions from the shuttered Portmann Capital Management, were funnelled through the private Malta-based Pilatus Bank, the former economic crimes unit boss said. Assistant Commissioner Ian Abdilla told the public inquiry into the assassination of Daphne Caruana Galizia, that Portmann had channelled a total of €120 million… Read More

29th June 2020

The Professor and the Fixer: How a Colombian Middleman Got a Crime Specialist to Launder Money

By Parker Asmann, Steven Dudley and César Molinares, Insight Crime, 25 June 2020 Insight Crime – While a guilty plea for money laundering by a decorated University of Miami professor continues to send shockwaves through the academic, law enforcement and crime investigation communities, his Colombian go-between remains free, a walking example… Read More

26th June 2020

Venezuela’s PDVSA weighs plan to pay for refinery work with fuel, byproducts – sources

Officials from Venezuelan state oil company Petroleos de Venezuela [PDVSA.UL] have spoken with private contractors about paying for work fixing the country’s refineries with fuel and byproducts, a half dozen people familiar with the talks said. The possibility of in-kind compensation comes as U.S. sanctions on PDVSA and severe cash-flow… Read More

25th June 2020

U.S. puts sanctions on five Iranian ship captains for bringing oil to Venezuela

The United States on Wednesday imposed sanctions on five Iranian ship captains who delivered oil to Venezuela, and Secretary of State Mike Pompeo reaffirmed Washington’s backing for Venezuelan opposition leader Juan Guaido. Speaking at a news conference, Pompeo said the ships delivered about 1.5 million barrels of Iranian gasoline and… Read More

24th June 2020

Sources: Venezuela wooed Texas Republican to ease sanctions

AP – Venezuela’s socialist government tried to recruit then-Congressman Pete Sessions to broker a meeting with the CEO of Exxon Mobil at the same time it was secretly paying a close former House colleague $50 million to keep U.S. sanctions at bay, The Associated Press has learned. An official… Read More

22nd June 2020

Mexico Freezes Bank Accounts of Entities Sanctioned by U.S.

The Mexican government’s financial crime department has frozen the bank accounts of companies and people blacklisted by the United States under accusations of having evaded the sanction regime imposed on Venezuela, its chief said on Friday. Santiago Nieto, chief of Mexico’s Financial Intelligence Unit, did not elaborate on details, but… Read More

16th June 2020

How China got shipments of Venezuelan oil despite U.S. sanctions

Last year, China replaced the United States as the No. 1 importer of oil from Venezuela, yet another front in the heated rivalry between Washington and Beijing. The United States had imposed sanctions on Venezuela’s state-owned oil company as part of a bid to topple that country’s socialist president, Nicolas… Read More

15th June 2020

Key Financier of Venezuela’s Maduro Regime Arrested

Authorities in the African country of Cape Verde detained a Colombian businessman wanted in the U.S. on money-laundering charges, in a blow for Venezuela’s authoritarian government, for whom he has become an important deal maker. Alex Saab Morán, traveling in a private jet, was arrested during a refueling stop… Read More

11th June 2020

Judge Hints at Potential Disciplinary Action for Prosecutors in Sanctions Case

A federal judge indicated prosecutors could face disciplinary action for allegedly failing to turn over evidence in a case that led to the conviction of an Iranian man on money-laundering and sanctions violations charges. The comments from Judge Alison Nathan came in response to a Friday request by the top… Read More

Must Read

Bermuda: Beneficial ownership register to go public

FBI concerned over laundering risks in private equity, hedge funds – leaked document

Malaysia in bid to restrain PetroSaudi from using alleged 1MDB funds in UK firm

Court ties dos Santos to ‘fraudulent’ diamond deal as Portugal further freezes out billionaire

Regulators plot path for cross-border payments to counter Facebook