Predictive money laundering and damming orders – what are they?

WMD Last week, the US Treasury Department imposed sanctions against a bank in China for allegedly providing financial services to North Korean companies and said it was rolling out more sanctions in the weeks to come. The bank, the Bank of Dandong, is alleged to have facilitated money laundering by allowing its bank to be [...]

Politically exposed Chinese foreign national pleads guilty to immigration fraud

Shilan Zhao (趙世蘭), the ex-wife of a Chinese official and a politically exposed person, has pleaded guilty to immigration fraud related to the EB5 investor visa program in the US and will serve a term of incarceration of five years. Zhao conspired with her husband, Jianjun Qiao (喬建軍), aka Feng Li, to immigrate to the [...]

Co-founder of infrastructure fund allegedly under investigation for money laundering

Kola Aluko, a Nigerian energy mogul, is allegedly under investigation for money laundering in Nigeria. Among other things, Aluko is one of the founders of Made in Africa (MiAF), a foundation for infrastructure projects across Africa which, in 2013, joined the African Development to launch the Africa50 Fund on NASDAQ, Africa’s largest infrastructure investment vehicle. It seems [...]

US extends GTOs for tracking money laundering in real estate

The US Treasury has announced that it is extending its Geographical Targeting Orders to identify purchasers of luxury real estate properties in six areas in the US. The GTOs require title insurance companies to identify the natural persons behind shell companies used to pay all cash for high-end residential real estate. A Special Agent with the [...]

Nigeria gets ex parte asset recovery order for $153,000,000 in proceeds of corruption from PEP parked in banks

The government of Nigeria will be able to recover $153 million in proceeds of corruption from Diezani Allison-Madueke, its former Minister of Petroleum, who was and remains a politically exposed person under anti-money laundering law. The funds were alleged to have been stolen from the Nigerian National Oil Company when it was under her control as [...]