All articles tagged with #financial crimes
Secretary of the Treasury Scott Bessent announced initiatives to combat government benefits fraud in Minnesota, targeting complex fraud rings that have stolen billions of dollars meant for social programs, through investigations, enhanced reporting, and law enforcement training.
FinCEN announced a data-driven operation targeting over 100 U.S. money services businesses along the southwest border to combat potential money laundering, utilizing advanced technology and analyzing over one million financial reports to enforce compliance and enhance national security.
The article discusses Donald Trump's tendency to pardon white-collar criminals, particularly those involved in financial crimes like money laundering, with a focus on his recent pardon of Binance founder Changpeng Zhao, highlighting his ideological leniency towards fraudsters and the industry's influence on his pardons.
JPMorgan knowingly continued banking Jeffrey Epstein, despite internal concerns and evidence of his criminal activities, due to the lucrative nature of his accounts and personal relationships with top executives, including Jes Staley, highlighting issues of corporate responsibility and incentives in banking.
FinCEN warns about Chinese money laundering networks (CMLNs) that facilitate illicit activities like drug trafficking, human trafficking, and real estate fraud in the U.S., highlighting their methods, scope, and red flags for detection, with a focus on their relationship with Mexico-based drug cartels and Chinese citizens evading currency laws.
FinCEN has issued a notice urging financial institutions to monitor and report suspicious activities related to convertible virtual currency kiosks, which are exploited by criminals for fraud, cybercrime, and drug trafficking, emphasizing the importance of compliance with the Bank Secrecy Act to prevent illicit activities.
The U.S. Department of Justice is dropping charges against former Portland executive Andrew Wiederhorn related to financial crimes, reversing previous plans to prosecute, after his case was initially pursued under the Trump administration.
Thai police arrested a woman for seducing and blackmailing Buddhist monks, leading to a major scandal involving senior monks, financial misconduct, and calls for law reforms to increase transparency and restore public trust in Buddhism.
President Trump continues his pattern of granting clemency to political loyalists and wealthy allies, including reality TV stars, a former nursing home executive, and a sheriff, often for financial crimes, signaling a focus on messaging around policing, political loyalty, and financial misconduct in his second term.
Robert Brian Thompson, a former senior manager at the Federal Reserve Bank of Richmond, pleaded guilty to insider trading and making false statements. Thompson used confidential information to make $771,678 in personal profits from trades in financial institutions and falsely reported his assets to conceal the scheme. He faces up to 20 years in prison for insider trading and five years for false statements, with sentencing scheduled for March 2025.
Marilyn Mosby, Baltimore's former progressive prosecutor, is seeking a presidential pardon, claiming her prosecution for financial crimes is political retribution for her role in prosecuting police officers involved in Freddie Gray's death. She faces a potential 40-year prison sentence.
A man has been charged in connection with the case of a missing Belmont man, Andrew Tench, who has been confirmed dead by his family. Tench went missing after telling his family he was going to Charlotte for a birthday celebration. His car was found abandoned in Monroe, and the circumstances surrounding his disappearance are puzzling, with his phone going straight to voicemail and receipts from Charlotte and Matthews discovered in the vehicle. The family is searching for answers, and the case involves charges of failure to report a death, financial crimes, and identity theft.
Two individuals have been arrested for financial crimes in connection with the apparent homicide of 56-year-old Christine Mello in Weymouth. The suspects, Kelly Shaw and John "Jack" Harper, were living in the victim's home and are facing charges including larceny and check forgery. While there are no homicide charges at this time, the investigation is ongoing, and both suspects have prior criminal records.
Two individuals are being charged with financial crimes discovered during the investigation into the apparent homicide of 56-year-old Christine Ruth Mello in Weymouth. The suspects, Kelly Shaw and John "Jack" Harper, are facing charges including larceny and uttering forged checks. Mello's remains were found in her residence, and it is believed that she may have been deceased for several days before being discovered.
Disbarred attorney Alex Murdaugh has been sentenced to 40 years in federal prison for stealing from clients and his law firm, in addition to serving a life sentence without parole for the murders of his wife and son. The judge imposed a harsher punishment due to the impact on vulnerable victims, and Murdaugh must also pay nearly $9 million in restitution. Prosecutors suspect he is withholding information about the $6 million he stole and may have had help in his criminal schemes. Murdaugh attributed his actions to opioid addiction, but the judge dismissed this explanation, emphasizing the complexity of his financial crimes.