Money Laundering

Money laundering is the process whereby the proceeds of crime are transformed into ostensibly legitimate money or other assets. However in a number of legal and regulatory system the term money laundering has become conflated with other forms of financial crime, and sometimes used more generally to include misuse of the financial system, including terrorism financing, tax evasion and evading of international sanctions. Most anti-money laundering laws openly conflate money laundering (which is concerned with source of funds) with terrorism financing (which is concerned with destination of funds) when regulating the financial system.
Posts about Money Laundering
  • Fighting Title 31 Currency Seizures issued by CBP

    … This article is going to cover a specific subsection of Title 31 currency seizures. These seizures are typically initiated by U.S. Customs and Border Protection (CBP) to travelers who fail to declare currency they are traveling with in excess of $10,000. Additionally, CBP may seize currency when travelers conspire to defeat reporting requirements…

    Mike Ivancie/ Ivancie Law- 17 readers -
  • ING Bank Subject to Dutch, SEC Probe – Whistleblower Opportunity

    … to settle claims that it violated sanctions. That was the highest fine ever leveled by OFAC. According to the Treasury Department, “Beginning in the 1990s, at the instruction of senior bank management, ING Bank employees in Curacao began omitting references to Cuba in payment messages sent to the United States in order to prevent U.S. financial…

    Due Diligence- 20 readers -
  • Former Texas Registered Rep Arrested for Internet Ponzi Scheme

    … Former Texas Registered Rep Arrested for Internet Ponzi Scheme Posted on Wednesday, February 8, 2017 at 9:31 AM From the Desk of Jim Eccleston at Eccleston Law LLC: Former registered rep Bobby Eugene Guess was arrested following his indictment on charges of securities fraud, theft, money laundering and engaging in organized criminal activity…

    Eccleston Law Offices- 11 readers -
  • Houston Woman Charged with Defrauding Professional Athletes

    … Houston Woman Charged with Defrauding Professional Athletes Posted on Sunday, January 22, 2017 at 8:27 PM From the Desk of Jim Eccleston at Eccleston Law LLC: Peggy Ann Fulford, 58, formerly of Houston and now residing in New Orleans, has been arrested and charged with wire fraud, mail fraud, interstate transportation of stolen property…

    Eccleston Law Offices- 18 readers -
  • Feds Nab 6 More for Bribery of Foreign Officials (and the Officials too!)

    …, the U.S. Department of Justice and SEC continues their dogged pursuit of those companies that bribe public officials. The latest notch in DOJ’s belt comes from the prosecution of three Texans and three Mexican nationals. All are tied to a company called Hunt Pan Am Aviation. The first to plead guilty in the scheme were Kamta Ramnarine and Daniel Perez…

    Due Diligence- 21 readers -
  • Wells Fargo Hits a New Low (Bank Whistleblower Post)

    … with the U.S. Department of Justice that Wachovia Bank (Wells Fargo acquired Wachovia) failed to report suspected money laundering by drug traffickers that used the bank. The government says the laundered money was used to purchase 4 planes that would later ship 22 tons of cocaine. August 2010 A New York federal judge fines the bank for overdraft practices…

    Due Diligence- 38 readers -
  • Colorado Man Arrested For Investment Scheme

    … Colorado Man Arrested For Investment Scheme Posted on Wednesday, November 16, 2016 at 9:34 AM From the Desk of Jim Eccleston at Eccleston Law LLC: Gary Snisky of Longmont, Colorado, has been arrested on charges of mail fraud and money laundering during a scheme to defraud investors. Snisky, with the help of an informational technology worker…

    Eccleston Law Offices- 12 readers -
  • Lawyer, Flop House Operators Charged with Medicaid Fraud

    … that Cornachio maintains his innocence and told reporters, “These were long-term street addicts, sleeping in subway tunnels, doorways, committing larceny to pay for the drugs, prostituting themselves.” Parallel Civil False Claims Act Charges The federal False Claims Act is an 1863 vintage fraud recovery statute that remains the government’s main fraud tool…

    Due Diligence- 32 readers -
  • When Does My Drug Crime Become a Federal Case?

    … State and Federal Drug Laws In every state in the country, possessing, manufacturing or distributing illegal drugs is a serious crime. The majority of the time, people are charged with low-level drug offenses at the state level. In certain circumstances, however, drug crimes are prosecuted by the federal government. What makes a drug crime…

    Matthew Sharp/ The Law Office of Matthew D. Sharp- 26 readers -
  • Law Firm Responsible for Ponzi Scheme Losses

    … What does legal malpractice have to do with a Ponzi scheme? Plenty, if a law firm helped facilitate the scheme. When that happens, the lawyers can be held responsible for investor losses. Recently I wrote about the $7 billion Ponzi scheme perpetrated by “Sir” Allen Stanford. For a while, it looked like Stanford’s victims might only receive…

    Due Diligence- 20 readers -
  • The Fix was (Allegedly) In!

    … the U.S. Government out of millions of dollars by way of rigged Social Security Administration (SSA) Disability claims is stranger than fiction. Last April, the Department of Justice (DOJ) indicted Conn, “Mr. Social Security,” with several criminal counts, including conspiracies to commit mail fraud, wire fraud, witness retaliation, destruction…

    Bond and Botes- 27 readers -
  • The Panama Papers – Looking for Whistleblowers

    … and all other the leaders with their hands in the cookie jar. Although the ICIJ has not released the actual data – just excerpts – we know that they claim to have records of ten banks that sought offshore constructs for their clients. Is this evidence of tax evasion? Not directly but based on years of experience, we suspect that many of those…

    Due Diligence- 36 readers -
Get the top posts daily into your mailbox!