A court in Guatemala has sentenced a prominent journalist to 6 years in jail
Guatemalan journalist Jose Ruben Zamora, president of the newspaper El Periodico, arrives handcuffed and under police escort to listen to a Guatemalan court's ruling in a case against him, at the Palace of Justice in Guatemala City, on Wednesday.Johan Ordonez/AFP via Getty Images One of Guatemala's most prominent journalists has been sentenced to six years in prison for money laundering, in a trial condemned by press freedom and human rights advocates.
One of world's biggest botnets taken down, US says
Law enforcement agencies shut down a global malware network linked to $5.9bn theft, leading to charges against the operator with possible 65 years imprisonment. [ more ]
US arrests man allegedly behind enormous botnet that enabled cyberattacks and fraud
A Chinese national allegedly ran an international botnet that infected over 19 million IP addresses, facilitating crimes worldwide and making $100 million in profits. [ more ]
Tornado Cash Dev Alexey Pertsev Sentenced to 64 Months in Prison
Developers of open-source platforms like Tornado Cash may be held liable for money laundering activities conducted by users, setting a precedent for potential legal consequences. [ more ]
Samourai Wallet Co-Founder Keonne Rodriguez Pleads Not Guilty, Released on $1M Bond
The co-founder of Samourai Wallet pleaded not guilty to charges related to the privacy-focused Bitcoin app and services, facing up to 20 years in prison. [ more ]
Bitcoin Magazine - Bitcoin News, Articles and Expert Insights
First Mover Americas: Bitcoin Holds Stable as ETF Outflows Increase
Bitcoin price remains strong despite ETF outflows. ARK Invest sold all BITO shares. EU adopts tighter laws on money laundering and terrorism financing. [ more ]
Binance Fined $4.3M by Canadian Financial Regulator for 'Administrative Violations'
Binance faced a C$6 million fine in Canada for violating financial regulations, including failure to register and report transactions over $10,000. [ more ]
BTC-e Operator Alexander Vinnik Pleads Guilty to Money Laundering Conspiracy Charge
Alexander Vinnik, operator of BTC-e, pleaded guilty to money laundering charges after processing over $9 billion in crypto transactions and being linked to the Mt. Gox hack. [ more ]
Chinese Billionaire Accused of Fraud Didn't Need the Money, Lawyers Say
Guo Wengui, an exiled Chinese billionaire, is portrayed as an anti-Communist leader who allegedly defrauded investors. His lawyer argued he didn't need money he's accused of stealing. [ more ]
Ontario's 'Crypto King' arrested, charged with fraud | CBC News
The Ontario Crypto King faces charges of fraud and money laundering after misappropriating investor funds, spending lavishly, and leaving a trail of financial losses. [ more ]
Venture Capitalist Convicted on Federal Wire Fraud Charges
Former San Francisco venture capitalist found guilty of fraud and money laundering.
Michael Rothenberg deceived investors by using venture capital funds for personal expenses and falsely claiming that his company was self-funded. [ more ]
British-Chinese Money Launder Sentenced to 6 Years in Prison for Role in $6B Fraud: FT
UK police seized $2.2 billion worth of bitcoin linked to a $6 billion fraud, with a woman sentenced to prison for laundering without knowledge of its origins. [ more ]
Representative Henry Cuellar, Democrat of Texas, and his wife were charged in a bribery scheme involving Azerbaijan and a Mexican bank.
Cuellar maintained his innocence, stating he cleared his wife's work with the Ethics Committee and intended to run for re-election despite the charges. [ more ]
The U.S. Department of Justice arrested the co-founders of Samourai Wallet, intensifying the crackdown on money laundering via privacy tools in crypto transactions. [ more ]
Zambia's women could be barred from football at Olympics after Fifa steps in
Fifa threatened Zambia's football association with suspension due to money-laundering accusations against its president, potentially impacting women's Olympic participation. [ more ]
Bitcoin Magazine - Bitcoin News, Articles and Expert Insights
EU Parliament Adopts AML Laws Regulating Bitcoin Based On Questionable Assumptions
The European Parliament adopted new AML regulations impacting crypto asset service providers, including increased reporting, customer due diligence, and restrictions on privacy assets. [ more ]
German police swoop on gang of foreign dating scammers
The Black Axe gang engaged in romance scams and money laundering in Germany, using a commodity-based money laundering scheme and operating under a seemingly charitable organization. [ more ]
Brooklyn federal prosecutors charge crypto CEO in multimillion-dollar international fraud scheme
Horst Jicha, CEO of cryptocurrency platform USI Tech, has been arraigned on charges of securities fraud, wire fraud, and money laundering.
Jicha led USI Tech's expansion into the U.S. market and allegedly operated a multilevel marketing scheme, making false guarantees of high investment returns. [ more ]
South London county lines gang who flooded Welsh town with heroin jailed
Operation Goldie was a county lines operation in Bridgend involving significant drug trafficking.
Nine individuals involved in drug trafficking for the Goldie county line were sentenced, including the head of the operation Caine Morris-McGibbon. [ more ]
Cuban music promoter arrested by federal agents in Miami. What charges does he face?
Cuban music promoter Boris Arencibia has been arrested on charges related to a multimillion dollar scheme involving the sale of misbranded pharmaceuticals.
Arencibia is accused of conspiring with others to buy expensive prescription medications obtained through theft, burglary, or healthcare fraud. [ more ]
Former F.B.I. Spy Hunter Sentenced to 4 Years in Prison
Former top FBI agent sentenced to more than four years in prison for money laundering and violating US sanctions on a Russian oligarch with ties to Putin.
Charles F. McGonigal is one of the highest-ranking FBI officials ever to be convicted of a crime. [ more ]
CIBC fined $1.3M for failing to comply with money laundering and terrorist financing rules | CBC News
Canada's financial intelligence agency, Fintrac, has imposed a $1.3 million penalty on CIBC for non-compliance with money laundering and terrorist financing measures.
This comes after RBC received a $7.4 million fine for similar non-compliance issues. [ more ]
Congress Passed a Money Laundering Law. Interest Groups Are Still Fighting It.
The implementation of a law can be a lengthy process that involves lobbying, litigation, and revisions that can reshape the original legislation.
The Corporate Transparency Act, which aims to combat money laundering and terrorist financing, is facing opposition from interest groups and small business organizations who argue that it would burden millions of small businesses. [ more ]
Lawyer's 'Money Laundering' Charges Upheld by New Jersey Court
Shuffling client cash around firm accounts can be considered criminal money laundering.
A New Jersey appeals court ruled that a lawyer's theft of client funds qualifies for indictment under the state's financial transaction crime statute. [ more ]
Nusrat Choudhury was confirmed Thursday as a federal judge by the US Senate, making history as the first Muslim woman and the first Bangladeshi American to join the federal judicial bench.The vote in the Democrat-led Senate narrowly passed along party lines.President Joe Biden nominated the civil rights attorney in January 2022, along with seven other federal judicial nominees, who, the White House said, continue to fulfill the President's promise to ensure that the nation's court reflects the diversity that is one of our greatest assets as a court both in terms of personal and professional backgrounds.
Family members co-signed bond for George Santos, court filing says
The co-signers on a $500,000 bond connected to Republican Rep. George Santos' federal indictment are family members, his lawyer said in a new court filing, though their names will remain unknown to the public while an appeals process plays out.Attorneys for Santos filed the appeal Friday, continuing his fight to keep the names of the bond co-signers under seal after a federal judge ordered earlier this week that the names must be made public.
Prosecutors Agree to Withdraw New Charges Against Sam Bankman-Fried
Federal prosecutors investigating the collapse of the FTX cryptocurrency exchange said late Wednesday that, at least for now, they would withdraw several of the charges facing the company's founder, Sam Bankman-Fried.In a court filing, the prosecutors said they would proceed to a trial in October without pursuing five of the 13 charges against Mr. Bankman-Fried a set of accusations that the government added to the crypto mogul's indictment in the months after he was extradited from the Bahamas in December.
UBS completes takeover of Credit Suisse in deal meant to stem global financial turmoil
UBS said Monday that it has completed its takeover of embattled rival Credit Suisse, nearly three months after the Swiss government hastily arranged a rescue deal to combine the country's two largest banks in a bid to safeguard Switzerland's reputation as a global financial center and choke off market turmoil.
Manhunt for Ponzi-scheme' scammer given jail sentence but on the run for 70m fraud
A fugitive who ran a Ponzi-style investment scam worth 70 million in the City of London has been given jailed after going on the run.Anthony Constantinou, 41, ran Capital World Markets (CWM) which offered investors returns of 60 per cent per year on allegedly risk-free foreign exchange markets.He was jailed for 14 years at Southwark Crown Court on Friday after previously being found guilty of seven charges including fraud by false representation, fraudulent trading and money laundering.
City boss sentenced to 14 years' imprisonment over 70m Ponzi-style scam
A City boss compared to the The Wolf Of Wall Street has been sentenced to 14 years' imprisonment in his absence over a 70 million Ponzi-style investment scam.Anthony Constantinou, 41, went on the run during his seven-week Southwark Crown Court trial and is thought to be in Turkey or Dubai after being stopped in Bulgaria with a fake Spanish passport.
Names of co-signers of George Santos' $500,000 bond must be made public, judge rules
Republican Rep. George Santos of New York, who was indicted on charges of wire fraud and money laundering, has lost his effort to keep the public from learning the names of the people who co-signed his $500,000 bond, according to court records.Santos' attorney Joseph Murray had asked the court to keep the names of the people who guaranteed his half-a-million dollar bond sealed after a motion was filed by multiple news organizations, including CNN, requesting the names be made public.
Atlanta Democrats Vote to Fund Controversial Police Training Center
Atlanta's city council voted early Tuesday morning to provide public funding for a controversial law enforcement training facility, cementing an unusual alliance that has formed between local Democrats and state Republicans.With the Democratic mayor, left-leaning city council and state Republicans all backing millions of dollars in taxpayer funds for the private non-profit that is building the center, the facility dubbed Cop City by opponents is set to take the next step towards construction, local political observers say.
Atlanta City Council Approves Cop City' Funding Despite Protests
The Atlanta City Council voted overwhelmingly early Tuesday to approve $31 million in funding for the construction of a sprawling $90 million police and fire training complex, backing a project that has provoked nearly two years of sustained protests and further inflamed tensions over law enforcement in the city.
Rep. George Santos' lawyer asks to keep bond cosigners' names sealed
Indicted Rep. George Santos' attorney has filed a letter asking the judge overseeing the New York Republican's case to keep the names of the people who put up his $500,000 bond sealed.Attorney Joseph Murray objected to a motion by news organizations, including CNN, for the judge to make public the names of the cosigners following Santos' indictment on campaign finance and fraud charges in New York in early May.
Atlanta approves funding to build Cop City' despite fierce opposition
The Atlanta city council early on Tuesday approved funding for the construction of a proposed police and firefighter training center, rejecting the pleas of hundreds of activists who spoke for hours in fierce opposition to the project they decry as Cop City.Some Cop City opponents have faced unprecedented arrests during which police have accused them under a state domestic terrorism statute, prompting a legal challenge which argues that the protesters are being unduly targeted over their constitutionally protected free speech.
Prosecutors Scrutinize Political Nonprofit Groups for Fund-Raising Fraud
Federal prosecutors are scrutinizing at least 10 political nonprofit groups including five recently profiled in The New York Times seeking to determine if the groups defrauded donors, according to two recent subpoenas.The subpoenas, both signed by the same Manhattan-based federal prosecutor, sought recordings of the fund-raising calls made by two separate networks of political nonprofits that together have raised tens of millions of dollars.