money laundering

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Crypto's 'Clyde' Gets 5 Years, Asks for Leniency for 'Bonnie'

Ilya Lichtenstein stole bitcoin worth $7.6B at current market prices

(Newser) - A computer expert who stole bitcoin worth billions of dollars at current prices—and then spent years laundering the hacked cryptocurrency with help from his wife—was sentenced Thursday to five years in prison. Ilya Lichtenstein masterminded one of the largest-ever thefts from a virtual currency exchange before he and...

$21M Found Stashed in Walls of Ex-Top Fraud Cop's Home

Spanish police say cash came from Oscar Sanchez Gil's alleged collaboration with gangs

(Newser) - Until recently, Oscar Sanchez Gil was head of the fraud and anti-money laundering division of Spain's national police force. Now, he's being held on charges of drug trafficking, money laundering, corruption, and membership in a criminal group, along with his romantic partner. During a probe into Spain's...

Money Launderer Flips, Swipes $150K From DEA

Daniel Shaun Zilke sentenced to more than 7 years in prison

(Newser) - A man accused of laundering millions of dollars for drug traffickers flipped to informant, only to steal $150,000 from the Drug Enforcement Administration, federal prosecutors say. Known as "The Englishman," Daniel Shaun Zilke, 49, of Mexico City, allegedly oversaw money laundering operations for drug cartels across the...

AG: Major Canadian Bank Became a Criminal in the US

Penalty for TD Bank includes $3B fine, 'worst-case' asset cap

(Newser) - Canada's second-largest bank "created an environment that allowed financial crime to flourish," Attorney General Merrick Garland said Thursday. "By making its services convenient for criminals, it became one." TD Bank has been fined more than $3 billion after becoming the first bank in the US...

Backpage.com Founder Is Headed to Prison

Michael Lacey sentenced to 5 years, $3M fine on a money laundering charge

(Newser) - Michael Lacey, a founder of the lucrative classified site Backpage.com, was sentenced Wednesday to five years in prison and fined $3 million for a single money laundering count in a sprawling fraud case that alleged he profited from prostitution. A jury convicted Lacey, 76, of international concealment money laundering...

Bolsonaro's Summer Isn't Off to a Great Start

Former Brazilian president is indicted for money laundering over undeclared Saudi diamonds

(Newser) - The indictment of former Brazilian President Jair Bolsonaro for money laundering and criminal association in connection with undeclared diamonds from Saudi Arabia marked the far-right leader's second formal accusation, with more potentially in store. The indictment on Thursday by the nation's Federal Police, confirmed by two officials with...

Media Company CFO Faces Money Laundering Charges

Prosecutors say Epoch Times exec was part of 'sprawling transnational scheme'

(Newser) - The chief financial officer of the Epoch Times, a conservative multinational media company, is accused of taking part in a multi-year scheme to launder tens of millions of dollars in fraudulently obtained unemployment benefits and other funds, according to an indictment unsealed Monday. Weidong "Bill" Guan, 61, of Secaucus,...

Colombia's President Says He'll Stay Out of Son's Arrest

Nicolas Petro is being held in money laundering investigation

(Newser) - Colombian police arrested the president's son Saturday as part of a high-profile money laundering probe involving funds he's accused of collecting from convicted drug traffickers during last year's presidential campaign. President Gustavo Petro, a former rebel who rose through Colombia's political ranks as an anti-corruption crusader,...

Report: Feds Probing 2 Payments Made to Trump Media

Insiders say two loans totaling $8M have dubious source

(Newser) - Federal prosecutors are taking a close look at two payments totaling $8 million made to Trump Media, owner of Donald Trump's Truth Social platform, sources tell the Guardian . The insiders say prosecutors who were already looking at the company ahead of a planned merger with "blank check" firm...

As Bannon Surrenders, Charges Revealed

Former White House strategist charged with money laundering, conspiracy in New York

(Newser) - Steve Bannon has turned himself in to authorities in New York, who accuse him of stealing more than $1 million from donations meant to fund a border wall on the US-Mexico border. The allegations mirror federal charges Bannon faced before he was pardoned by President Trump. Two other men charged...

Gambling Nun to Serve Year Behind Bars: 'I Have Sinned'

'I have no excuses,' says Sister Mary Margaret Kreuper, who stole $835K from Catholic school

(Newser) - Update: A California nun and retired principal who embezzled $835,000 in donations, tuition, and fees from a Catholic elementary school will now have to pay it all back and serve a year behind bars. "I have sinned, I've broken the law, and I have no excuses,"...

Olympic Medalist Charged With $10M PPP Loan Fraud

Speed skater Allison Baver allegedly used some of the funds to invest in an Elijah Wood film

(Newser) - A Utah speed skater who picked up a bronze medal at the 2010 Olympics and participated in the two Winter Games before that has been indicted and charged with making false statements to get her hands on millions in COVID relief loans. Per a release from the US Attorney's...

PPP Fraudster Learns 'There Is No Easy Money'

Texas' Lee Price III gets 9 years for wire fraud, money laundering

(Newser) - A Texas man who fraudulently received $1.6 million in COVID-19 relief money, then bought a $200,000 Lamborghini and a Rolex, has been sentenced to more than nine years in prison. Lee Price III of Houston was sentenced to nine years and two months in prison on Monday after...

Money-Laundering Expert Gets 6 Months for Money Laundering

Professor Bruce Bagley wrote several books on South American corruption

(Newser) - Update: A money-laundering expert arrested after expertly laundering the proceeds of corruption in Venezuela has been sentenced to six months in prison. Prosecutors said retired University of Miami professor Bruce Bagley—who testified before Congress on money laundering—kept a roughly $200,000 commission from the scheme. The 75-year-old could...

After Scandals, Pope Revamps Vatican's Finance Intel Unit

It's part of pontiff's efforts to prevent and counter 'money laundering and the financing of terrorism'

(Newser) - Pope Francis has revamped the Holy See's financial intelligence and anti-money-laundering unit following financial scandals, including an ongoing in-house corruption probe, Vatican officials said Saturday. The changes involve the governance and organization of the unit, which has been renamed the Supervisory and Financial Information Authority, or ASIF, the Vatican...

His Release Date Was 2419. It Just Got Pushed to Now

'Stunning reprieve' from judge for money launderer Juan Carlos Seresi, serving a 505-year sentence

(Newser) - A money launderer who was sentenced nearly 30 years ago to five centuries behind bars just got what CNN calls a "stunning reprieve." A Los Angeles federal judge decided he should be let out of prison ASAP. US District Court Judge Stephen V. Wilson ruled Thursday that 73-year-old...

Banks Are Laundering Trillions for the Bad Guys
BuzzFeed
Has Dug Up
Damning Bank
Documents
the rundown
Sep 21, 2020 4:03 AM CDT

BuzzFeed Has Dug Up Damning Bank Documents

The 'FinCEN files' show how criminals, terrorists, and corrupt leaders use Western banks

(Newser) - The new Panama Papers are out, and they're just as ugly—if not worse. Leaked government documents show that big banks are laundering untold trillions of dollars for shady operators around the world and getting away with it, BuzzFeed reports. JPMorgan Chase and HSBC appear to be among the...

Biggest Lottery Winner in US Was Swindled: Prosecutors

'Lottery Lawyer' Jason Kurland charged in $107M fraud

(Newser) - The "Lottery Lawyer" advertised his services while noting that many lottery winners "are not sophisticated enough" to see potential scams. "You really have to rely on the professionals," Jason Kurland told Vice in 2016. Now three winners who relied on Kurland have lost more than $80...

Someone Tries Laundering Money—Literally

South Korean loses 'considerable' sum after washing-machine debacle

(Newser) - Money laundering is not a good idea, as a South Korean found out when he or she put banknotes in a washing machine to remove possible traces of the coronavirus, the AP reports. Officials say the loss was considerable. The person living in Ansan city, near Seoul, placed an unspecified...

DEA Agent Hit With 19 Counts in 'Black Eye' to Agency

Jose Irizarry and his wife were arrested Friday

(Newser) - A once-standout US federal narcotics agent known for spending lavishly on luxury cars and Tiffany jewelry has been arrested on charges of conspiring to launder money with the same Colombian drug cartel he was supposed to be fighting, the AP reports. Jose Irizarry and his wife were arrested Friday at...

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