money laundering

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Backpage CEO Wraps Up '3-State Guilty Plea Tour'

Carl Ferrer will testify against co-founders, face max of 5 years in Arizona

(Newser) - A laundry list of high-level staffers at Backpage.com are facing money laundering and facilitating prostitution charges , with one top executive now agreeing to testify against the rest of them. Per the AP , CEO Carl Ferrer has struck a plea deal in which he'll admit guilt to state and...

DiCaprio May Have to Return Millions in Artwork

Feds are seizing assets related to Malaysian corruption

(Newser) - The feds are in the midst of a complex money-laundering investigation tied to Malaysian financiers, but it's got some easy-to-understand ramifications: Leonardo DiCaprio has to return a Picasso and an old Oscar that once belonged to Marlon Brando. As Reuters reports, DiCaprio himself is not charged with any wrongdoing,...

Ex-Trump Campaign Chief Accused of Hiding Payment

Ukraine lawmaker says he has found secret invoice

(Newser) - Paul Manafort, the Trump campaign manager who stepped down last summer amid controversy over his ties to a pro-Russia party in Ukraine, is facing a fresh allegation of hiding secret payments. Ukraine lawmaker Serhiy Leshchenko has published a contract and invoice supposedly from Manafort, a former adviser to pro-Russia former...

Backpage Shuts Adult Section After Damning Report

Site is 'far more complicit in online sex trafficking' than previously known: report

(Newser) - The founders and CEO of Backpage.com may have beat pimping charges , but their classified site hasn't escaped unscathed from claims that it benefited from prostitution and human trafficking. The site shuttered its adult section on Monday, claiming government censorship and "an assault on the First Amendment,"...

Authorities Find $20M Hidden Under Mattress
Authorities Find $20M
Hidden Under Mattress
IN CASE YOU MISSED IT
Jan 8, 2017 5:32 PM CST

Authorities Find $20M Hidden Under Mattress

While investigating an international pyramid scheme

(Newser) - You'd think that much cold, hard cash would make for an uncomfortable night's sleep. The AP reports a 28-year-old Brazilian man was arrested this week in Massachusetts after authorities found about $20 million hidden in a box spring. The arrest of Cleber Rene Rizerio Rocha is connected to...

Gambler Meets Alleged Gangster, and a Crazy Tale Unfolds
Gambler Meets
Alleged Gangster,
and a Crazy Tale
Unfolds
in case you missed it
Dec 3, 2016 9:03 AM CST

Gambler Meets Alleged Gangster, and a Crazy Tale Unfolds

Revealed is an interesting idea about how to launder money

(Newser) - It's a money laundering tale that seems destined for Hollywood: Rolling Stone unspools the case against Owen Hanson, who went by O-Dog more than a decade ago when he was a member of the USC football team and as "Junior DeLuca" in his post-college days as the alleged...

Judge Dumps Laundering Charges, Says Bitcoin's Not Real

Virtual currency can't 'be hidden under a mattress like cash and gold bars': Miami judge

(Newser) - Bitcoins may be valuable in tech circles, but to a judge in Miami-Dade County, the virtual money is nothing more than shadow currency. On Monday, Judge Teresa Mary Pooler discarded felony charges against website designer Michell Espinoza, who had been accused of transmitting and laundering $1,500 in bitcoins—an...

Feds: Laundered Cash Financed Wolf of Wall Street

DOJ accuses Malaysian officials of stealing $3.5B

(Newser) - The financing of The Wolf of Wall Street was "a case of life imitating art," prosecutors say—with shady Malaysian officials standing in for Leonardo DiCaprio's stock-swindling character. On Wednesday, the Justice Department accused Malaysian officials of plundering more than $3.5 billion from the country's...

Mexico Arrests &#39;King Midas&#39;
 Mexico Arrests 'King Midas' 
Mar 28, 2016 6:31 AM CDT

Mexico Arrests 'King Midas'

Joaquin 'El Chapo' Guzman's alleged money launderer is in police custody

(Newser) - Joaquin "El Chapo" Guzman needed someone to scrub all of his dirty drug money, and Mexican police say they arrested that man, known as "King Midas," while he was vacationing, the BBC reports. "Groups of elite federal police and the Mexican army arrested Juan Manuel Alvarez...

Former Feds Busted for Boosting Bitcoins

Ex-DEA, Secret Service agents stole digital currency during Silk Road probe: report

(Newser) - What do you do if you're a federal agent who's part of an undercover operation to bust up a booming black-market drug-dealing website? One thing you don't usually do is skim a goodly portion of said site's digital currency into your pockets, but two former federal...

How Feds Grab Bank Accounts, No Crime Needed

IRS confiscates big bucks with 'civil forfeiture' law

(Newser) - Carole Hinders was successfully running a Mexican restaurant in Iowa when IRS agents gave her the bad news: They were seizing her $33,000 checking account. She had committed no crime, but raised suspicions by repeatedly depositing amounts lower than $10,000 in her bank. And Hinders isn't alone,...

CEO of Bitcoin Exchange Arrested

Charlie Shrem charged with money laundering in connection with Silk Road

(Newser) - A high-profile arrest in the world of Bitcoin: BitInstant CEO Charlie Shrem, 24, has been arrested and charged with money laundering; the same goes for alleged co-conspirator and "underground Bitcoin exchanger" Robert Faiella (aka BTCKing). Authorities say the two schemed to sell more than $1 million of Bitcoin to...

Art Auctions Are Just Money Laundering
 Art Auctions Are Just 
 Money Laundering 
OPINION
Nov 18, 2013 1:12 PM CST

Art Auctions Are Just Money Laundering

Michael Wolff sees something sinister behind ever-rising prices for fine art

(Newser) - High art's auction seasons have become celebrated events, and "most of the hyperventilating commentary has been about the exhilaration" of the soaring prices works are fetching—just last week Christie's set a new record . What hardly anyone's talking about is just how sketchy all this is,...

Spain Busts 25 in Sex Slave Ring: Police

5 victims freed in operation

(Newser) - Spanish police say they've busted a gang of 25 Nigerians who were engaged in human trafficking, Internet fraud, and money laundering. Five women victims of sex slavery were released during the crackdown on the underground operation in Spain, the police say. The gang was using Spain as a springboard...

Illicit Online Bank Gave Account to 'Joe Bogus'

Undercover agent put address as 'Completely Made Up City, New York'

(Newser) - The folks who ran Liberty Reserve, which prosecutors say was a massive online money-laundering operation, apparently weren't all that concerned with authorities taking even a cursory look at the books. As Bloomberg reports, an undercover agent set up his account under the name of "Joe Bogus" with an...

Feds Bust Massive Online Money-Laundering Scheme

Seven charged in $6B Liberty Reserve operation

(Newser) - Calling it perhaps the biggest money-laundering scheme in US history, federal prosecutors charged seven people today with running what amounted to an online, underworld bank that handled $6 billion for drug dealers, child pornographers, identity thieves, and other criminals around the globe. The case was aimed at Liberty Reserve, a...

It Just Got Tougher to Launder Money in Vatican

Will exchange financial info with US under new deal

(Newser) - The Vatican is continuing efforts to scrub its financial reputation: It yesterday inked a deal with the US in which each will share information about financial transactions, the Wall Street Journal reports. The move is intended to help surface any money laundering. The Vatican Bank came under heavy scrutiny during...

Obama Declares Big Banks Too Big to Jail
 Obama Declares Big Banks Too Big to Jail
OPINION
Dec 12, 2012 1:14 PM CST

Obama Declares Big Banks Too Big to Jail

Decision not to prosecute bank's money laundering sparks outrage

(Newser) - The Obama administration officially bought into the idea that big banks are "too big to jail" yesterday, by deciding to fine HSBC instead of criminally prosecuting its vast money laundering operation—which funneled cash to Mexican drug cartels and Saudi banks with ties to al-Qaeda. The stated reason? The...

HSBC to Pay $1.9B in Money-Laundering Probe

British banking giant was accused of helping cartels

(Newser) - A law enforcement official says HSBC will pay $1.9 billion to settle a money-laundering probe by federal and state authorities into Europe's biggest bank. According to the official, the bank will pay $1.25 billion in forfeiture and pay $655 million in civil penalties. The $1.25 billion...

More Bad News for JPMorgan
 More Bad News for JPMorgan 
Nov 16, 2012 9:57 AM CST

More Bad News for JPMorgan

Regulators point finger at weaknesses in its anti-money-laundering procedures

(Newser) - More bad news for JPMorgan Chase: The banking giant is expected to be hit with formal action by US regulators over perceived weaknesses in its anti-money-laundering system, as part of a wider crackdown on the financial industry, reports the Wall Street Journal . It doesn't look like there will be...

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