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FCPA Blog Daily News

Entries in money laundering (123)

Wednesday
Jul202016

What did the alleged 1MDB looters buy with $1 billion? Here's the list

The DOJ alleged in a civil forfeiture complaint Wednesday that officials at Malaysia's sovereign wealth fund 1MDB and the step son of the Malaysia prime minister diverted more than $3.5 billion from the fund.

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Thursday
Jun162016

Owner of Houston oil service companies admits Venezuela bribes

Image courtesy of PDVSAThe owner of multiple U.S.-based oil and gas services companies pleaded guilty Thursday to bribing officials at Venezuela’s state-owned energy company to win work and speed up contract payments.

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Thursday
Jun092016

FINRA penalizes Oppenheimer & Co. $3 million for selling risky ETFs to seniors

The Financial Industry Regulatory Authority (FINRA) Wednesday fined Oppenheimer & Co. Inc. $2.25 million and ordered the firm to pay restitution of more than $716,000 to some retail customers for selling them unsuitable high-risk investments.

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Thursday
Apr212016

Pennsylvania consultant pleads guilty to FCPA offenses for bribing banker

The former owner and president of a Pennsylvania consulting business pleaded guilty Wednesday to violating the Foreign Corrupt Practices by bribing an official at the European Bank for Reconstruction and Development.

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Monday
Apr182016

Martin Kenney: Tackling corruption means tackling the proceeds of crime

UK Prime Minister David Cameron has said corruption adds 10 percent to business costs globally.

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Wednesday
Mar232016

Company owner, employee admit FCPA offenses in Venezuela oil company bribe case

The owner of multiple U.S.-based oil and gas services companies pleaded guilty Tuesday to FCPA and fraud charges for bribing officials to win contracts from Venezuela’s state-owned energy company, Petroleos de Venezuela S.A. (PDVSA).

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Thursday
Mar102016

Florida-based FIFA match agent pleads guilty to global bribery conspiracy

A FIFA match agent and soccer consultant pleaded guilty Tuesday to one count of money laundering conspiracy and two counts of wire fraud conspiracy for multiple schemes to bribe soccer officials. 

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Monday
Jan252016

Private jet owner, two others, plead guilty in New York-to-Panama money laundering sting

Three men who thought they were laundering $2.6 million from a penny stock fraud have pleaded guilty in federal court in Brooklyn, New York.

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Tuesday
Dec292015

UK deterrence failure: High value dealers in ‘showpiece’ assets avoid prosecution

Luxury goods retailers selling high-end cars, boats, private jets, art, antiques and jewellery are being used by the corrupt to hide the illegal proceeds of crime -- and to escape detection, Transparency International said.

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Tuesday
Dec152015

Ex Russia nuke official jailed four years for laundering bribe money

A former director of a Russian nuclear energy firm was sentenced Tuesday to 48 months in federal prison for taking $2 million in bribes to award uranium transportation contracts to an American company.

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Wednesday
Dec022015

Martin Kenney: Are Russia's moves against graft and money laundering for real? 

In a post for the FCPA Blog, Kristina Furlet wrote that Russia has drafted a bill that would (finally) ratify the Council of Europe Warsaw Convention of 2005 on Laundering, Search, Seizure and Confiscation of the Proceeds of Crime and on the Financing of Terrorism.

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Tuesday
Nov242015

TI: UK AML supervision is an unworkable mish-mash

Transparency International released a report Monday calling for a radical overhaul of the UK’s anti-money laundering system.

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