Representative Henry Cuellar, Democrat of Texas, and his wife were charged in a bribery scheme involving Azerbaijan and a Mexican bank.
Cuellar maintained his innocence, stating he cleared his wife's work with the Ethics Committee and intended to run for re-election despite the charges. [ more ]
Samourai Wallet Co-Founder Keonne Rodriguez Pleads Not Guilty, Released on $1M Bond
The co-founder of Samourai Wallet pleaded not guilty to charges related to the privacy-focused Bitcoin app and services, facing up to 20 years in prison. [ more ]
Bitcoin Magazine - Bitcoin News, Articles and Expert Insights
First Mover Americas: Bitcoin Holds Stable as ETF Outflows Increase
Bitcoin price remains strong despite ETF outflows. ARK Invest sold all BITO shares. EU adopts tighter laws on money laundering and terrorism financing. [ more ]
Former F.B.I. Spy Hunter Sentenced to 4 Years in Prison
Former top FBI agent sentenced to more than four years in prison for money laundering and violating US sanctions on a Russian oligarch with ties to Putin.
Charles F. McGonigal is one of the highest-ranking FBI officials ever to be convicted of a crime. [ more ]
CIBC fined $1.3M for failing to comply with money laundering and terrorist financing rules | CBC News
Canada's financial intelligence agency, Fintrac, has imposed a $1.3 million penalty on CIBC for non-compliance with money laundering and terrorist financing measures.
This comes after RBC received a $7.4 million fine for similar non-compliance issues. [ more ]
Congress Passed a Money Laundering Law. Interest Groups Are Still Fighting It.
The implementation of a law can be a lengthy process that involves lobbying, litigation, and revisions that can reshape the original legislation.
The Corporate Transparency Act, which aims to combat money laundering and terrorist financing, is facing opposition from interest groups and small business organizations who argue that it would burden millions of small businesses. [ more ]
Lawyer's 'Money Laundering' Charges Upheld by New Jersey Court
Shuffling client cash around firm accounts can be considered criminal money laundering.
A New Jersey appeals court ruled that a lawyer's theft of client funds qualifies for indictment under the state's financial transaction crime statute. [ more ]
Essay | The End of Crypto's Dream to Escape From Government
Binance, the world's largest cryptocurrency exchange, pleaded guilty to breaking U.S. anti-money-laundering laws and will pay $4.3 billion in penalties.
The agreement between Binance and U.S. authorities marks a watershed moment for crypto's compliance with American law.
The centralized nature of cryptocurrency exchanges like Binance and Coinbase allows the government to extend its reach into the crypto economy. [ more ]
A court in Guatemala has sentenced a prominent journalist to 6 years in jail
Guatemalan journalist Jose Ruben Zamora, president of the newspaper El Periodico, arrives handcuffed and under police escort to listen to a Guatemalan court's ruling in a case against him, at the Palace of Justice in Guatemala City, on Wednesday.Johan Ordonez/AFP via Getty Images One of Guatemala's most prominent journalists has been sentenced to six years in prison for money laundering, in a trial condemned by press freedom and human rights advocates.
Police Arrest Organizers Behind Cop City Protester Bail Fund
"There is no first amendment in Atlanta," wrote activist Micah Herskind.Activists participate in a protest against the proposed Cop City being built in an Atlanta forest on March 9, 2023, in New York City.Spencer Platt / Getty Images Law enforcement officers in Georgia have arrested three top organizers behind a bail fund in Atlanta that has been aiding protesters against Cop City.
Prosecutors Agree to Withdraw New Charges Against Sam Bankman-Fried
Federal prosecutors investigating the collapse of the FTX cryptocurrency exchange said late Wednesday that, at least for now, they would withdraw several of the charges facing the company's founder, Sam Bankman-Fried.In a court filing, the prosecutors said they would proceed to a trial in October without pursuing five of the 13 charges against Mr. Bankman-Fried a set of accusations that the government added to the crypto mogul's indictment in the months after he was extradited from the Bahamas in December.
Atlanta approves funding to build Cop City' despite fierce opposition
The Atlanta city council early on Tuesday approved funding for the construction of a proposed police and firefighter training center, rejecting the pleas of hundreds of activists who spoke for hours in fierce opposition to the project they decry as Cop City.Some Cop City opponents have faced unprecedented arrests during which police have accused them under a state domestic terrorism statute, prompting a legal challenge which argues that the protesters are being unduly targeted over their constitutionally protected free speech.
Atlanta City Council Approves Cop City' Funding Despite Protests
The Atlanta City Council voted overwhelmingly early Tuesday to approve $31 million in funding for the construction of a sprawling $90 million police and fire training complex, backing a project that has provoked nearly two years of sustained protests and further inflamed tensions over law enforcement in the city.
Prosecutors Scrutinize Political Nonprofit Groups for Fund-Raising Fraud
Federal prosecutors are scrutinizing at least 10 political nonprofit groups including five recently profiled in The New York Times seeking to determine if the groups defrauded donors, according to two recent subpoenas.The subpoenas, both signed by the same Manhattan-based federal prosecutor, sought recordings of the fund-raising calls made by two separate networks of political nonprofits that together have raised tens of millions of dollars.
Florida Art Scammer Sentenced to Over 2 Years in Federal Prison
A Florida art dealer who promised bargains on works he claimed were originals by master artists including Roy Lichtenstein, Keith Haring and Henri Matisse has been sentenced to more than two years in federal prison for running a counterfeit scheme, federal officials said.The man, Daniel Elie Bouaziz, 69, owned several art galleries in Palm Beach County, Fla., through which he operated the counterfeit scheme.
Steve Bannon's Criminal Trial Is Scheduled for Next May
Stephen K. Bannon, a longtime adviser to former President Donald J. Trump, is scheduled to stand trial in May of next year for what prosecutors say was his role in defrauding Americans who paid money toward the construction of a southern border wall, a judge said Thursday.The judge, Juan M. Merchan, said that while the May 27, 2024 trial was later than he had anticipated he had originally considered a November date he was satisfied with the schedule proposed by Mr. Bannon's lawyers as long as prosecutors with the Manhattan district attorney's office were satisfied.
Manhunt for Ponzi-scheme' scammer given jail sentence but on the run for 70m fraud
A fugitive who ran a Ponzi-style investment scam worth 70 million in the City of London has been given jailed after going on the run.Anthony Constantinou, 41, ran Capital World Markets (CWM) which offered investors returns of 60 per cent per year on allegedly risk-free foreign exchange markets.He was jailed for 14 years at Southwark Crown Court on Friday after previously being found guilty of seven charges including fraud by false representation, fraudulent trading and money laundering.
City boss sentenced to 14 years' imprisonment over 70m Ponzi-style scam
A City boss compared to the The Wolf Of Wall Street has been sentenced to 14 years' imprisonment in his absence over a 70 million Ponzi-style investment scam.Anthony Constantinou, 41, went on the run during his seven-week Southwark Crown Court trial and is thought to be in Turkey or Dubai after being stopped in Bulgaria with a fake Spanish passport.
Belgian Aid Worker and Iranian Diplomat Freed in Prisoner Swap
Iran freed a Belgian aid worker imprisoned in Tehran for 455 days on charges of spying, in exchange for Belgium releasing a former Iranian diplomat who was convicted in 2021 of a thwarted bomb plot.The aid worker, Olivier Vandecasteele, was flown late Thursday from Tehran to Muscat, the capital of Oman, where the exchange took place, Belgium's prime minister, Alexander De Croo, said on Friday.
Fresh out of prison, Beverly Hills con artist launches $9-million hemp scam, FBI says
(Kristen Wyatt / Associated Press)
Mark Roy Anderson of Beverly Hills collected $9 million over four years from investors in his hemp farm on the outskirts of Bakersfield, but there was one problem, the FBI says: The farm did not exist.Anderson, the investors discovered, is a convicted con artist who started swindling people at least three decades ago.
Former Kane County circuit clerk facing felony charges found dead in apparent suicide, officials say
Former Kane County Circuit Clerk Thomas Hartwell, indicted last month on charges of misusing public money and receiving kickbacks, was found dead Wednesday morning in an apparent suicide, officials said.Hartwell, 63, was found at his Palatine law firm office by police conducting a well-being check, the Kane County State's Attorney's Office said.
Gang made millions from streaming Premier League matches online
An illegal streaming gang who offered cut-price subscriptions for Premier League matches to more than 50,000 people have been jailed.The Premier League said five men were convicted of conspiracy to defraud, money laundering and contempt of court after generating more than 7 million in five years.Mark Gould, from London, was reported to have masterminded the operation and was handed an 11-year prison sentence at Chesterfield Crown Court on Tuesday.
Illegal streaming gang jailed for selling cut-price Premier League subscriptions
An illegal streaming gang who offered cut-price subscriptions for Premier League matches to more than 50,000 people have been jailed.The Premier League said five men were convicted of conspiracy to defraud, money laundering and contempt of court after generating more than 7 million in five years.Mark Gould, from London, was reported to have masterminded the operation and was handed an 11-year prison sentence at Chesterfield Crown Court on Tuesday.
Suella Braverman's speeding cover up, Phillip Schofield leaving ITV's This Morning and migration featured on the front of Britain's newspapers on Sunday.The Mail on Sunday says Home Secretary Suella Braverman tried to cover up her speeding offence.The Sunday Mirror and the Daily Star ran with the ITV morning show host Phillip Schofield announcing his exit from the programme.
Police seize 15 dogs after man fatally injured in attack
Fifteen dogs have been seized by police investigating an attack which led to the death of a 37-year-old man.Jonathan Hogg, who was described by his family as a well-loved, sensitive, and kind person, died in hospital after suffering serious injuries when he was attacked by a dog at around 9.10pm on Thursday in Leigh, Greater Manchester.
Binance Fined $4.3M by Canadian Financial Regulator for 'Administrative Violations'
Binance faced a C$6 million fine in Canada for violating financial regulations, including failure to register and report transactions over $10,000. [ more ]
Tornado Cash Dev Alexey Pertsev Sentenced to 64 Months in Prison
Developers of open-source platforms like Tornado Cash may be held liable for money laundering activities conducted by users, setting a precedent for potential legal consequences. [ more ]
EU Parliament Adopts AML Laws Regulating Bitcoin Based On Questionable Assumptions
The European Parliament adopted new AML regulations impacting crypto asset service providers, including increased reporting, customer due diligence, and restrictions on privacy assets. [ more ]
BTC-e Operator Alexander Vinnik Pleads Guilty to Money Laundering Conspiracy Charge
Alexander Vinnik, operator of BTC-e, pleaded guilty to money laundering charges after processing over $9 billion in crypto transactions and being linked to the Mt. Gox hack. [ more ]
The U.S. Department of Justice arrested the co-founders of Samourai Wallet, intensifying the crackdown on money laundering via privacy tools in crypto transactions. [ more ]
Ontario's 'Crypto King' arrested, charged with fraud | CBC News
The Ontario Crypto King faces charges of fraud and money laundering after misappropriating investor funds, spending lavishly, and leaving a trail of financial losses. [ more ]
Zambia's women could be barred from football at Olympics after Fifa steps in
Fifa threatened Zambia's football association with suspension due to money-laundering accusations against its president, potentially impacting women's Olympic participation. [ more ]
German police swoop on gang of foreign dating scammers
The Black Axe gang engaged in romance scams and money laundering in Germany, using a commodity-based money laundering scheme and operating under a seemingly charitable organization. [ more ]
Cuban music promoter arrested by federal agents in Miami. What charges does he face?
Cuban music promoter Boris Arencibia has been arrested on charges related to a multimillion dollar scheme involving the sale of misbranded pharmaceuticals.
Arencibia is accused of conspiring with others to buy expensive prescription medications obtained through theft, burglary, or healthcare fraud. [ more ]
South London county lines gang who flooded Welsh town with heroin jailed
Operation Goldie was a county lines operation in Bridgend involving significant drug trafficking.
Nine individuals involved in drug trafficking for the Goldie county line were sentenced, including the head of the operation Caine Morris-McGibbon. [ more ]
Nusrat Choudhury was confirmed Thursday as a federal judge by the US Senate, making history as the first Muslim woman and the first Bangladeshi American to join the federal judicial bench.The vote in the Democrat-led Senate narrowly passed along party lines.President Joe Biden nominated the civil rights attorney in January 2022, along with seven other federal judicial nominees, who, the White House said, continue to fulfill the President's promise to ensure that the nation's court reflects the diversity that is one of our greatest assets as a court both in terms of personal and professional backgrounds.
Family members co-signed bond for George Santos, court filing says
The co-signers on a $500,000 bond connected to Republican Rep. George Santos' federal indictment are family members, his lawyer said in a new court filing, though their names will remain unknown to the public while an appeals process plays out.Attorneys for Santos filed the appeal Friday, continuing his fight to keep the names of the bond co-signers under seal after a federal judge ordered earlier this week that the names must be made public.
Names of co-signers of George Santos' $500,000 bond must be made public, judge rules
Republican Rep. George Santos of New York, who was indicted on charges of wire fraud and money laundering, has lost his effort to keep the public from learning the names of the people who co-signed his $500,000 bond, according to court records.Santos' attorney Joseph Murray had asked the court to keep the names of the people who guaranteed his half-a-million dollar bond sealed after a motion was filed by multiple news organizations, including CNN, requesting the names be made public.
Atlanta Democrats Vote to Fund Controversial Police Training Center
Atlanta's city council voted early Tuesday morning to provide public funding for a controversial law enforcement training facility, cementing an unusual alliance that has formed between local Democrats and state Republicans.With the Democratic mayor, left-leaning city council and state Republicans all backing millions of dollars in taxpayer funds for the private non-profit that is building the center, the facility dubbed Cop City by opponents is set to take the next step towards construction, local political observers say.
Rep. George Santos' lawyer asks to keep bond cosigners' names sealed
Indicted Rep. George Santos' attorney has filed a letter asking the judge overseeing the New York Republican's case to keep the names of the people who put up his $500,000 bond sealed.Attorney Joseph Murray objected to a motion by news organizations, including CNN, for the judge to make public the names of the cosigners following Santos' indictment on campaign finance and fraud charges in New York in early May.
Civil Rights Group: DOJ Must Probe Arrest of Anti-Cop City Bail Fund Organizers
Hundreds arrived to speak before the Atlanta City Council before a vote to approve funding for the Cop City on Monday.Activists participate in a protest against the proposed Cop City being built in an Atlanta forest on March 09, 2023 in New York City.Spencer Platt / Getty Images A prominent civil rights group is calling for a federal investigation into Georgia police's arrest of three lead organizers for the Atlanta Solidarity Fund, a bail fund that has helped in protesters' fight against Cop City, raising deep concerns about the state's seeming quest to paint protesters against Cop City as "terrorists."
Brooklyn federal prosecutors charge crypto CEO in multimillion-dollar international fraud scheme
Horst Jicha, CEO of cryptocurrency platform USI Tech, has been arraigned on charges of securities fraud, wire fraud, and money laundering.
Jicha led USI Tech's expansion into the U.S. market and allegedly operated a multilevel marketing scheme, making false guarantees of high investment returns. [ more ]
EU cracks down on crpyto, expands dirty money watchlist DW 01/18/2024
The European Union has reached an agreement to strengthen provisions against money laundering, including in cryptocurrency.
The new measures expand the scope of institutions monitoring dirty money, require due diligence from crypto-asset providers, and set a maximum limit of 10,000 euros for cash payments. [ more ]
Venture Capitalist Convicted on Federal Wire Fraud Charges
Former San Francisco venture capitalist found guilty of fraud and money laundering.
Michael Rothenberg deceived investors by using venture capital funds for personal expenses and falsely claiming that his company was self-funded. [ more ]
UBS completes takeover of Credit Suisse in deal meant to stem global financial turmoil
UBS said Monday that it has completed its takeover of embattled rival Credit Suisse, nearly three months after the Swiss government hastily arranged a rescue deal to combine the country's two largest banks in a bid to safeguard Switzerland's reputation as a global financial center and choke off market turmoil.
Pressure on Tories to reveal true source' of party donations
The head of the government's ethics advisory body has called for an overhaul of the rules on political donations, warning stronger safeguards are required against the influence of foreign money.Lord Jonathan Evans, chair of the independent committee on standards in public life, told the Observer that the government needed to implement new measures which would establish the true source of donations and improve diligence checks.
If diplomats were on TikTok, de-risk would be trending.The word has suddenly become popular among officials trying to loosen China's grip on global supply chains but not cut ties entirely, with the joint communique from this weekend's Group of 7 meeting making clear that the world's largest democratic economies will now focus on de-risking, not decoupling.