Tag #Money Laundering

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bbc.com

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Aug 10, 01:14

UK Father and Son Arrested in \$1.2 Million Steroid Ring

A father and son in the UK were arrested for running a \$1.2 million steroid operation, manufacturing and distributing the drug Renvex; their enterprise, involving online sales and a dog grooming business for money laundering, was uncovered by police due to patterns in deliveries and a connection to...

UK Father and Son Arrested in \$1.2 Million Steroid Ring

A father and son in the UK were arrested for running a \$1.2 million steroid operation, manufacturing and distributing the drug Renvex; their enterprise, involving online sales and a dog grooming business for money laundering, was uncovered by police due to patterns in deliveries and a connection to...

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What were the key methods used by the father and son to manufacture, distribute, and launder the proceeds from their illegal steroid operation?

A father and son in the UK ran a \$1.2 million steroid operation, manufacturing and distributing the drug Renvex. Their enterprise, which involved a network of individuals accepting deliveries and online sales, was ultimately uncovered by police due to patterns in deliveries and a connection to a dog grooming business used for money laundering. The operation spanned several locations, including a remote farmhouse used as a lab and a sweetshop used as a cover.

cbsnews.com

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Aug 7, 04:15

28-Year Sentence for Feeding Our Future Fraudster

Abdiaziz Farah, a co-owner of Empire Cuisine and Market, was sentenced to 28 years in prison and ordered to pay $47,900,000 in restitution for his role in the Feeding Our Future fraud scheme, which involved creating fake food program sites, using funds to buy luxury assets, and attempting to bribe a...

28-Year Sentence for Feeding Our Future Fraudster

Abdiaziz Farah, a co-owner of Empire Cuisine and Market, was sentenced to 28 years in prison and ordered to pay $47,900,000 in restitution for his role in the Feeding Our Future fraud scheme, which involved creating fake food program sites, using funds to buy luxury assets, and attempting to bribe a...

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How did Abdiaziz Farah use the stolen funds, and what challenges did law enforcement face in recovering the assets?

Farah's actions highlight the systemic vulnerabilities within the Feeding Our Future program, allowing for widespread fraud and misuse of taxpayer money intended for children. His acquisition of luxury assets using stolen funds underscores the significant financial impact, exacerbated by the difficulty in recovering assets held overseas. The attempted jury bribery further demonstrates a blatant disregard for the legal process.

elmundo.es

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Aug 6, 01:17

Juan Carlos I Fully Repays €4 Million in Tax Debts"

Former Spanish King Juan Carlos I has fully repaid over €4 million in tax debts through loans from businessmen, settling liabilities stemming from undisclosed travel expenses and gifts, raising concerns about financial transparency despite the resolution.

Juan Carlos I Fully Repays €4 Million in Tax Debts"

Former Spanish King Juan Carlos I has fully repaid over €4 million in tax debts through loans from businessmen, settling liabilities stemming from undisclosed travel expenses and gifts, raising concerns about financial transparency despite the resolution.

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What was the total amount repaid by Juan Carlos I to settle his tax debts, and how did he obtain the funds?

Juan Carlos I has fully repaid the loans he obtained from businessmen to settle his tax debts with the Spanish Treasury. He returned over €4 million, generated through income from his residency in the United Arab Emirates, including proceeds from documentary rights and commercial intermediation.",

dailymail.co.uk

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Aug 3, 13:15

Albanian Brothers Arrested in £335 Million Cocaine Smuggling Plot

Albanian brothers Klevis and Artur Hoxhosmani, with British business ties and a connection to a prominent politician, were arrested for their alleged roles in a £335 million cocaine smuggling ring spanning Latin America, Europe, and the UK, utilizing encrypted communication and informal money transf...

Albanian Brothers Arrested in £335 Million Cocaine Smuggling Plot

Albanian brothers Klevis and Artur Hoxhosmani, with British business ties and a connection to a prominent politician, were arrested for their alleged roles in a £335 million cocaine smuggling ring spanning Latin America, Europe, and the UK, utilizing encrypted communication and informal money transf...

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How did the alleged drug trafficking operation utilize encrypted communication and informal money transfer systems?

The Hoxhosmani brothers' arrest highlights the international reach of Albanian organized crime, using sophisticated methods like encrypted communication (Sky/ECC) and the Hawala system for money transfers. Their connections to the UK, including businesses in Bournemouth, facilitated the drug trafficking operation.

smh.com.au

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Jul 31, 04:12

Sydney Police Bust $16.9 Million Fraud Syndicate

Two alleged ringleaders of a $16.9 million fraud and money laundering syndicate that used stolen personal information to obtain loans for non-existent luxury cars were arrested in Sydney, leading to the seizure of $4 million in assets and further asset freezes totaling $38 million.

Sydney Police Bust $16.9 Million Fraud Syndicate

Two alleged ringleaders of a $16.9 million fraud and money laundering syndicate that used stolen personal information to obtain loans for non-existent luxury cars were arrested in Sydney, leading to the seizure of $4 million in assets and further asset freezes totaling $38 million.

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How did the alleged syndicate use stolen personal information, and what types of financial institutions were targeted in the scheme?

The syndicate targeted automotive, business, and home loan companies, demonstrating a sophisticated and wide-ranging operation. Police allege the fraud involved the use of stolen personal information to obtain loans for non-existent luxury cars. The NSW Crime Commission's actions, including asset freezes totaling $38 million, highlight the significant scale of the alleged criminal activity.

bbc.com

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Jul 30, 22:16

Peterborough Man Jailed for Three Years in International Covid-19 Payment Fraud Scheme

Ali Amjad, a 42-year-old from Peterborough, was jailed for three years for his role in an international payment diversion fraud scheme that stole over £205,000 from a Cambridgeshire agricultural organization and other companies in Oman, Qatar, Kuwait, South Africa, and Singapore during the 2020 Covi...

Peterborough Man Jailed for Three Years in International Covid-19 Payment Fraud Scheme

Ali Amjad, a 42-year-old from Peterborough, was jailed for three years for his role in an international payment diversion fraud scheme that stole over £205,000 from a Cambridgeshire agricultural organization and other companies in Oman, Qatar, Kuwait, South Africa, and Singapore during the 2020 Covi...

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How did the perpetrators facilitate the money laundering aspect of the scheme, and what specific methods did they use to defraud their victims?

Amjad's scheme involved intercepting company emails, manipulating invoices, and redirecting payments. The fraud spanned several countries, including Oman, Qatar, Kuwait, South Africa, and Singapore, demonstrating a sophisticated, international operation. Law enforcement recovered over £80,000 in cash from Amjad's home.

elpais.com

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Aug 9, 16:16

US Sanctions Mexican Rapper El Makabelico for Money Laundering

The US Treasury Department sanctioned Mexican rapper El Makabelico, whose real name is Ricardo Hernández Medrano, for money laundering for the Cartel del Noreste (CDN), freezing his US assets and shutting down his social media and music platforms.

US Sanctions Mexican Rapper El Makabelico for Money Laundering

The US Treasury Department sanctioned Mexican rapper El Makabelico, whose real name is Ricardo Hernández Medrano, for money laundering for the Cartel del Noreste (CDN), freezing his US assets and shutting down his social media and music platforms.

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How does El Makabelico's music contribute to the CDN's activities?

El Makabelico's music, often glorifying the CDN and its activities, was allegedly used to launder money. The rapper, whose real name is Ricardo Hernández Medrano, reportedly gave 50% of his streaming royalties to the CDN. This case highlights the intersection of music, organized crime, and international sanctions.

smh.com.au

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Aug 6, 10:19

AUSTRAC Sues Sydney Club Group for Alleged $140 Million Money Laundering Failure

AUSTRAC is suing Mounties, a Sydney club group, for allegedly failing to prevent $140 million in money laundering by 10 customers who exhibited clear money-laundering behaviors between 2019 and 2023 through poker machines, highlighting systemic deficiencies in their anti-money laundering program, Be...

AUSTRAC Sues Sydney Club Group for Alleged $140 Million Money Laundering Failure

AUSTRAC is suing Mounties, a Sydney club group, for allegedly failing to prevent $140 million in money laundering by 10 customers who exhibited clear money-laundering behaviors between 2019 and 2023 through poker machines, highlighting systemic deficiencies in their anti-money laundering program, Be...

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What are the immediate consequences of AUSTRAC's legal action against Mounties for alleged money-laundering failures?

AUSTRAC, Australia's financial intelligence agency, has launched civil penalty proceedings against Mounties, a Sydney club group, for alleged breaches of anti-money laundering laws. Ten customers laundered approximately $140 million through poker machines, exhibiting clear money-laundering behaviors such as large cash deposits with minimal betting. Mounties allegedly failed to adequately monitor these activities, despite their awareness of the risks.

t24.com.tr

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Aug 4, 10:17

Turkey to Enhance Monitoring of Large Cash Transactions to Combat Money Laundering

Turkey's Treasury and Finance Ministry proposed a new regulation to monitor EFT, wire transfers, and cash transactions exceeding 200,000 TL to prevent money laundering, requiring detailed explanations and forms for transactions above 2 million TL, effective January 1, 2026, aligning with FATF standa...

Turkey to Enhance Monitoring of Large Cash Transactions to Combat Money Laundering

Turkey's Treasury and Finance Ministry proposed a new regulation to monitor EFT, wire transfers, and cash transactions exceeding 200,000 TL to prevent money laundering, requiring detailed explanations and forms for transactions above 2 million TL, effective January 1, 2026, aligning with FATF standa...

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What are the potential challenges in implementing this regulation effectively, and what longer-term effects might it have on the Turkish financial system?

The long-term impact will likely be improved financial transparency and a reduction in illicit financial activities within Turkey. The phased implementation, allowing for feedback, suggests a cautious approach designed to minimize disruption while maximizing effectiveness. The success of the regulation will depend on effective enforcement and cooperation from financial institutions.

cbsnews.com

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Aug 2, 04:14

Long Beach Man Arrested, Faces Federal Charges for Alleged ISIS Support

Mark Lorenzo Villanueva, a 28-year-old Long Beach resident, was arrested on Friday and faces federal charges for allegedly sending $1,615 to ISIS via Western Union over five months, expressing a desire to join the group and possessing a suspected explosive device.

Long Beach Man Arrested, Faces Federal Charges for Alleged ISIS Support

Mark Lorenzo Villanueva, a 28-year-old Long Beach resident, was arrested on Friday and faces federal charges for allegedly sending $1,615 to ISIS via Western Union over five months, expressing a desire to join the group and possessing a suspected explosive device.

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What is the immediate national security concern raised by Mark Lorenzo Villanueva's alleged actions?

A Long Beach resident, Mark Lorenzo Villanueva, faces federal charges for allegedly providing financial support to ISIS. He was arrested on Friday following the discovery of a suspected explosive device in his home, and faces up to 20 years in prison.

smh.com.au

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Jul 31, 10:20

AUSTRAC Sues Mounties for Money Laundering, Exposing NSW Government Inaction

AUSTRAC is suing Mounties, NSW's most profitable club, for serious and systemic non-compliance with anti-money laundering laws, highlighting the migration of illicit funds from casinos to pubs and clubs following a NSW Crime Commission report. The NSW government's slow response to implementing cashl...

AUSTRAC Sues Mounties for Money Laundering, Exposing NSW Government Inaction

AUSTRAC is suing Mounties, NSW's most profitable club, for serious and systemic non-compliance with anti-money laundering laws, highlighting the migration of illicit funds from casinos to pubs and clubs following a NSW Crime Commission report. The NSW government's slow response to implementing cashl...

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What are the immediate consequences of AUSTRAC's legal action against Mounties, and how does this impact the broader effort to combat money laundering in NSW?

AUSTRAC, Australia's financial crime watchdog, has filed a lawsuit against Mounties, NSW's most profitable club, for significant anti-money laundering violations. This follows similar actions against casinos and bookmakers, indicating a shift of illicit activities from casinos to pubs and clubs. The case highlights the ongoing challenge of regulating money laundering in the gambling sector.

dailymail.co.uk

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Jul 28, 22:13

Former UK Crime Agency Employee Jailed for Stealing £4 Million in Bitcoin

A former UK National Crime Agency employee, Paul Chowles, was sentenced to five and a half years in prison for stealing 50 Bitcoin from a dark web drug dealer in 2017; the Bitcoin's value increased from £59,000 to over £4 million during the investigation, and Chowles used a dark web system to launde...

Former UK Crime Agency Employee Jailed for Stealing £4 Million in Bitcoin

A former UK National Crime Agency employee, Paul Chowles, was sentenced to five and a half years in prison for stealing 50 Bitcoin from a dark web drug dealer in 2017; the Bitcoin's value increased from £59,000 to over £4 million during the investigation, and Chowles used a dark web system to launde...

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How did Chowles conceal his theft, and what investigative challenges did this pose for law enforcement?

Chowles's crime highlights the challenges in policing cryptocurrency. He cleverly concealed the stolen Bitcoin using a dark web system called "Bitcoin fog," requiring an extensive investigation to trace the funds. His relatively inconspicuous spending habits—on groceries, home improvement, and local establishments—made tracing the money difficult initially. This case underscores the potential for financial crimes involving cryptocurrencies.

Showing 37 to 48 of 286 results