Venezuela’s former national treasurer helped prosecutors bring an FCPA case against a media tycoon, and agreed as part of his own plea deal to forfeit $1 billion in personal assets.… Continue Reading
Two top executives of a now-defunct oil company were found guilty Wednesday of fraud and money laundering after a six-week trial in London.
Osman Shahenshah, the former CEO of Afren, and Shahid Ullah, the former COO, took $45 million from a secret deal they made with their company’s business partner in Africa.… Continue Reading
A Texas-based businessman who paid bribes to win work in Venezuela, and the corrupt official who took the bribes, pleaded guilty in federal court in Houston.
Juan Carlos Castillo Rincon (Castillo), 55, of Conroe, Texas, was the former manager of a Houston-based logistics and freight forwarding company.… Continue Reading
A U.S.-based financial advisor pleaded guilty Tuesday for helping launder money used to bribe officials at Ecuador’s state energy company.
Jose Larrea, 40, a U.S. citizen living in Miami, pleaded guilty to one count of conspiracy to commit money laundering. … Continue Reading
A Honduran citizen pleaded guilty in federal court in Louisiana Thursday to laundering $1.3 million in bribe money, along with assets his brother looted from the Honduran Institute of Social Security.… Continue Reading
A federal grand jury in New Orleans indicted the brother of a Honduras government official for trying to launder more than $1.3 million in bribe money.
The grand jury returned a 12-count indictment charging Carlos Alberto Zelaya Rojas, 47, with money laundering.… Continue Reading
Despite the UK’s rhetoric about wanting a “world leading reputation for integrity” as a financial center, it has never prosecuted a single company or bank for money laundering.
Given the scale of money laundered through the UK, this is pretty extraordinary.… Continue Reading
The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) on Tuesday proposed designating a leading Latvian bank as a primary money laundering concern because of alleged connections with North Korea and with criminals in Russia and other countries.… Continue Reading
The U.S. unit of Netherlands-based Rabobank pleaded guilty Wednesday to a felony conspiracy for concealing defects in its anti-money laundering program and obstructing a federal investigation.
Rabobank National Association based in Roseville, California will forfeit $368.7… Continue Reading
According to Good Jobs First’s “Violation Tracker,” since 2000, HSBC has accrued $4.8 billion in penalties in 23 criminal and civil enforcement actions.
This figure does not include violations committed by the company’s subsidiaries.… Continue Reading
The Treasury Department’s Financial Crimes Enforcement Network launched an information exchange program to help banks deal with financial threats.
Artificial intelligence will always be a “work in progress” in fighting money laundering and won’t entirely replace humans and their intuition, a top UK regulator said.… Continue Reading