money laundering

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School Gets Email Seeking $9M—and Sends It

Phishing scheme fools MacEwan University in Canada

(Newser) - How do you get millions from a Canadian university? Just ask, apparently. A fraudster emailed MacEwan University in 2017 seeking roughly $9 million (USD) and the school sent it right off, the Toronto Star reports. To be fair, the Edmonton school was busy constructing a $137 million building featuring dance... More »

He Had $31M but Didn't Know It. It's Made His Life Awful

The unlucky story of Muhammad Abdul Qadir

(Newser) - Would your life be any different if someone told you $31 million once sat in your bank account (but wasn't yours) and isn't there anymore? For a Pakistani man, the answer is a resounding yes: He says his life had gotten worse. The Guardian and Dawn have the... More »

Suspect in $4.3M Bank Theft Had Elaborate Getaway: DOJ

Extradited Alaska man drove, flew, cabbed it, and took a bus all the way to Mexico

(Newser) - Seven years after a bank in Alaska had more than $4 million lifted, the man suspected of stealing the money has been extradited back there—all the way from Mexico. A DOJ release reports that 33-year-old Gerardo "Gary" Adan Cazarez Valenzuela, who used to be the cash vault services... More »

Manafort's Right-Hand Man: I Stole From Manafort, Too

Rick Gates testifies against former partner

(Newser) - The star prosecution witness in the financial fraud trial of Paul Manafort testified Monday that he concealed millions of dollars in foreign bank accounts on Manafort's behalf and falsified documents to help his former boss obtain millions of dollars more in bank loans. Rick Gates also admitted he embezzled... More »

Mexico's World Cup Captain Blacklisted by US

Accused of helping a drug lord, Rafael Marquez takes part in 5th tournament

(Newser) - The captain of Mexico's World Cup squad became one of only three athletes to play in five World Cup tournaments on Sunday. But Rafael "Rafa" Marquez's substitution in a 1-0 win over defending champions Germany, per ESPN , wasn't to be applauded by all onlookers, including in... More »

In 2 Years, Trio Stole $1.2M From Amazon

3 sentenced over fraud scheme involving 'hundreds' of accounts

(Newser) - "To those who seek to exploit the convenience of online shopping through fraud, remember this case." That's the message from a chief prosecutor in Indiana who helped send three people to prison for a scheme that defrauded Amazon of $1.2 million. US Attorney Josh Minkler says... More »

Australia Outlaws Cash for Purchases Over $7.5K

It's the government's attempt to keep money laundering and tax evasion at bay

(Newser) - Hoping to cripple organized crime and tamp down on tax evasion and money laundering, Australia has announced its latest tactic: not allowing cash purchases over $7,500 for goods and services. The West Australian reports the new rule—which will require consumers to use a check or electronic service such... More »

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... More »

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,... More »

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... More »

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,"... More »

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... More »

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... More »

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... More »

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... More »

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... More »

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... More »

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,... More »

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... More »

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,... More »

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