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SATURDAY, NOVEMBER 21, 2009
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NEWS ABOUT: money laundering

money laundering stories: 38 news summaries

1 - 20 of 38 Stories | 1 2 Next >>

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cold hard cash

 Ex-Rep. Jefferson 
 Sentenced to 
 13 Years  

Pol busted with $90K in freezer betrays little emotion

Nov 13, 09 5:19 PM CST
(Newser) - A federal judge sentenced former Congressman William Jefferson to 13 years in prison today, less than the 27-plus years prosecutors called for but more than the 10-year term the Louisiana Democrat's lawyer wanted. Jefferson, who was convicted in August of 11 of the 16 counts relating to the public corruption... More »

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Nigeria • federal courts • William Jefferson • Louisiana • bribery • House of Representatives • Democrat • money laundering • racketeering • House Democrats • public corruption • William Jefferson sentenced

Ex-Taiwan Prez Convicted of Corruption, Sentenced to Life

Chen Shui-bian and wife both found guilty of embezzlement, taking bribes

Sep 11, 09 4:25 AM CDT
(AP) - The former president of Taiwan was convicted of corruption and sentenced to life imprisonment today, marking a watershed event in the island's turbulent political history. Chen Shui-bian, president from 2000 to 2008, was charged with embezzling $3.15 million from a special presidential fund, receiving bribes worth at least $9... More »

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Taiwan • bribery • corruption • money laundering • embezzlement • Chen Shui bian

(Newser) - Israeli police have recommended the indictment of the country's foreign minister for bribery, money laundering, and other corruption charges, Haaretz reports. Avigdor Lieberman, who leads the ultranationalist Yisrael Beiteinu party and was kingmaker in February's closely-run election, has been under investigation for years and is accused of funneling cash to... More »

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Israel • Ehud Olmert • conservative • bribery • corruption • money laundering • Avigdor Lieberman • corruption charges • Yisrael Beiteinu • foreign minister

Suspect in NJ Probe Sold Black-Market Kidneys

Corruption bust yields strange side business

Jul 25, 09 12:22 PM CDT
(Newser) - The FBI says it's made the first organ trafficking arrest in US history, a strange byproduct of the sweeping corruption probe that nabbed dozens of New Jersey officials and rabbis, the Star-Ledger reports. Levy Izhak Rosenbaum is accused of dealing in kidneys: He'd buy them from donors in Israel... More »

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Israel • FBI • New Jersey • corruption • black market • kidney • organ trafficking • money laundering • arrest

(Newser) - The 44 New Jersey politicians and New York and New Jersey rabbis arrested this morning were the subject of a 10-year probe, the Newark Star-Ledger reports. “The politicians willingly put themselves up for sale,” the US Attorney says. “For these defendants, corruption was a way of life.... More »

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US attorney • New Jersey • corruption • money laundering • nonprofit • arrest • politicians • Ralph Marra

 Flush Mafia Invests Big 
 in Recession Italy 

It's buying up struggling companies

May 27, 09 2:22 PM CDT
(Newser) - As banks spurn borrowers, Italian mafiosi are lending out their cash stockpiles to profit from the global recession, Bloomberg reports. Long invested in cash-intensive businesses like food distribution, the mafia is using its liquidity to take control of other legitimate businesses—and as a bonus, the three main mob outfits... More »

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Italy • mob • recession • bank • money laundering • Mafia • Sicilian mafia

 NY Lawyer 
 Pleads Guilty 
 to $400M Fraud 

Dreier bilked clients, spent cash on yacht and beach houses

May 12, 09 8:34 AM CDT
(Newser) - New York lawyer Marc Dreier pleaded guilty yesterday to selling hundreds of millions in bogus promissory notes to hedge funds and other clients, reports the Times. Dreier, 59, used the $400 million to fund a Manhattan apartment, beachfront houses, and an $18 million yacht. “He has disgraced the honorable... More »

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fraud • hedge fund • conspiracy • money laundering • wire fraud • securities fraud • hedge funds • Marc Dreier • Jay-ZTV

Nevada Deals 20 Years to
Thieving Chinese Bankers

Embezzlers tried to launder stolen $500M through Vegas casinos

May 7, 09 4:34 AM CDT
(Newser) - Two managers who scammed the Bank of China for nearly $500 million and fled to the US have been sentenced to more than 20 years each by a Nevada court, the BBC reports. The men's wives—who helped them launder the cash through Las Vegas casinos—were given 8-year sentences.... More »

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China • fraud • Las Vegas • money laundering • Nevada • embezzlement • bank fraud • Bank of China

INTERVIEW

Tearful Stanford 'Madder Than Hell' at Ponzi Charges

Tycoon expects indictment in 2 weeks

Apr 6, 09 4:00 PM CDT
(Newser) - Sir Robert Allen Stanford expects an indictment from the feds in a couple of weeks, but maintained his innocence in an interview with ABC News. The disgraced financier cried and told his interlocutor, “I will punch you in the mouth” if he mentioned reports that Stanford laundered drug money.... More »

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crime • drug trafficking • money laundering • Ponzi scheme • federal indictment • bank scandal • interview • Stanford Financial Group • Robert Allen Stanford

Madoff Laundered Money Overseas: Feds

Fraud extended to London, US says

Mar 12, 09 7:50 AM CDT
(Newser) - At least a quarter-billion dollars of client funds passed through Bernard Madoff's London operation in money-laundering maneuvers that involved the trading operation as well as the firm's investment-advisory arm, the US government alleges. Madoff's sons, who have denied involvement in the Ponzi scheme in which their father is about to... More »

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London • felony • money laundering • Ponzi scheme • Bernard Madoff • Ruth Madoff • Bernard L. Madoff Investment Securities

Texas Cops Accused of Racist Highway Robbery

Black motorists given the choice of handing over property or facing felony charges

Mar 11, 09 4:04 AM CDT
(Newser) - Cops in a small Texas town are accused of seizing the property of innocent black motorists to pad their salaries, the Chicago Tribune reports. A federal lawsuit alleges that Tehana police have abused the state's asset-forfeiture law—intended to penalize drug-runners—to extort money and other valuables from out-of-town drivers... More »

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Texas • money laundering • search and seizure • highways • highway patrol • asset forfeiture

Madoff Family Members May Face Charges

Feds investigating 20 others; 'he's jerking everyone around'

Mar 10, 09 9:51 PM CDT
(Newser) - Bernie Madoff's guilty plea Thursday won't be the end of the story, the Daily Beast reports. The feds are investigating 20 possible co-conspirators, including family members, writes Lucinda Franks. Madoff wants to preserve money for his wife and kids, and keep them out of trouble. But sources say that several... More »

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money laundering • Ponzi scheme • defrauding investors • Bernard Madoff • Ruth Madoff • Bernard L. Madoff Investment Securities

(AP) - Bernard Madoff's lawyer told a judge today his client will plead guilty later this week to 11 counts including money laundering, perjury and securities, mail and wire fraud. Prosecutors say the disgraced money manager will face up to 150 years in prison on the charges. More »

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Federal Court • money laundering • perjury • guilty plea • wire fraud • Ponzi scheme • attorney • securities fraud • conflict of interest • Bernard Madoff • mail fraud • Bill Maher Grid

Stanford Loses Cozy
Caribbean Domain

Mexican drug lord laundered money there

Feb 21, 09 1:11 PM CST
(Newser) - R. Allen Stanford is an institution in Antigua—so much so that some residents call the Caribbean island “Stanford Land”—and now the country is reeling from the SEC fraud case against him. The country has seized Stanford’s bank, but it’s still facing questions about its... More »

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fraud • money laundering • Antigua • Stanford Financial Group • Robert Allen Stanford • Bank of Antigua

Stanford May Have Ties to Mexican Drug Cartel

FBI money laundering probe predated SEC swoop on financier

Feb 19, 09 7:23 AM CST
(Newser) - Fugitive financier R. Allen Stanford was under investigation over possible ties to a Mexican drug cartel long before the SEC swooped in on his firm, federal authorities tell ABC News. The FBI and other agencies began probing Stanford on suspicion of money laundering a year ago, after Mexican authorities detained... More »

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FBI • fraud • money laundering • drug cartel • Ponzi scheme • Stanford Financial Group • Robert Allen Stanford

Court Reinstates Corruption Case Against Zuma

Ahead of vote, would-be S. African prez faces
16 counts of fraud

Jan 12, 09 5:43 AM CST
(Newser) - Jacob Zuma, the leader of the African National Congress and the likely next president of South Africa, once again faces corruption charges after the country's top appeals court reinstated 16 counts of fraud, money laundering, and tax evasion today. The court reversed a bombshell ruling from last September that threw... More »

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fraud • corruption • South Africa • money laundering • Jacob Zuma • African National Congress • South African elections • Kgalema Motlanthe


 UBS Closes 19,000 US 
 Accounts in IRS Probe 

Swiss banking secrecy collapses as investors face tax evasion charges

Jan 9, 09 6:51 AM CST
(Newser) - Under pressure from the IRS, Swiss banking giant UBS is closing the offshore accounts of about 19,000 Americans suspected of evading taxes. UBS will transfer the clients' assets to other banks, other divisions of UBS, or the account holders themselves—creating a paper trail that the feds can examine.... More »

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IRS • Switzerland • UBS • tax evasion • money laundering • Swiss bank • bank secrecy

Polaroid Files
for Bankruptcy
a Second Time

Photography icon blames fraud at
parent company

Dec 19, 08 12:08 PM CST
(Newser) - Polaroid is blaming fraud at its parent company for its second bankruptcy filing in 7 years, Bloomberg reports. The instant photography pioneer says it has “ample cash reserves” and doesn’t expect to seek additional financing under Chapter 11 reorganization. But the Petters Group, which acquired the 71-year-old firm... More »

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bankruptcy • digital photography • money laundering • wire fraud • Polaroid

 'Vati-Con' Agrees to Pay $3.6M 

Ann Hathaway's ex says he wants to repay fraud victims, but may be too broke

Dec 16, 08 4:23 PM CST
(Newser) - Raffaello Follieri, the jailed ex-boyfriend of actress Anne Hathaway who used alleged connections to the pope to scam investors, has agreed to return $3.6 million to victims, including two priests and celeb-billionaire Ron Burkle. It’s a small chunk of the $13 million the “Vati-Con” is accused of... More »

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fraud • Catholic Church • Ron Burkle • Vatican • real estate development • money laundering • Anne Hathaway • Raffaello Follieri

Hathaway's Ex Considers Copping Plea 

High-living Follieri weighs deal with feds on fraud charges

Sep 9, 08 10:31 AM CDT
(Newser) - Italian entrepreneur Raffaello Follieri may plead guilty as soon as today to fraud and money-laundering, the Wall Street Journal reports. Anne Hathaway's ex could still opt for a trial. He faces federal charges that carry a sentence of up to 5 years, even with the plea deal, but the government's... More »

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fraud • Catholic Church • Ron Burkle • Vatican • real estate development • money laundering • Anne Hathaway • Raffaello Follieri

1 - 20 of 38 Stories | 1 2 Next >>


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