Entries in money laundering (131)
The former chief compliance officer of a registered broker-dealer in Woodbury, New York was sentenced to six months in prison for stealing money from overseas investors who thought they were investing in Dell, Berkshire Hathaway, and BlackRock.
As a Canadian practicing law and operating out of the British Virgin Islands (BVI), any mention of Mossack Fonseca and Canada in the same breath is guaranteed to capture my attention.
Four Texas-based businessmen have admitted bribing Mexican officials in return for aircraft maintenance and repair contracts with government-owned and controlled entities.
The former Minister of Mines and Geology of the West African country of Guinea was arrested in New York and charged Tuesday with laundering $8.5 million in bribes he allegedly took from a Chinese conglomerate in exchange for mining rights.
It is a somewhat common refrain that while corporate executives and companies pressured into paying bribes overseas face prosecution under the FCPA, the foreign officials who solicit, demand, and even extort the bribes go scot-free. As with many refrains, however, the reality is more complex.
A gambling firm financed by Cantor Fitzgerald that became one of the biggest sports books in the United States entered into a non-prosecution agreement with the DOJ Monday and agreed to pay $16.5 million in criminal penalties and forfeiture.
India has always been a cash economy. The reasons are easy to see. India is still under-banked (only 53 percent of households have accounts, and many are dormant). The delay in enforcement of contracts encourages payment in cash. The low penetration of internet and low literacy discourage electronic transactions.
The 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.
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.
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.