Australian federal police uncover Bitcoin-related alleged international drug traffickers boasting about their luxury cars and mansions on social media

Two Bitcoin-related alleged drug traffickers living large and spending above their reported incomes In the last few months, the Australian Federal Police have arrested two well-known Bitcoin guys suspected of leading secret lives as international drug traffickers. Both alleged to the public that they had real jobs, one operating a digital currency exchange and the other an IT business, [...]

Colombian financial crime police find suspected money launderer on Instagram buying Lamborghini and Porsche on her Dad’s $2,400 a year salary

The Colombian financial crime police noticed and tracked down a suspected money launderer by following her extravagant shopping sprees on Instagram. Jenny Ambuila, a Colombian foreign national, was arrested by Colombian federal police for suspected money laundering. She posted many images of expensive purses and 5 star hotel stays in the EU as well as the [...]

World’s leading company for communications tech for money laundering and drug trafficking used by top transnational criminal organizations for 10 years, created in Vancouver

World leader in organized crime communications was launched in Canada A Vancouver company, called Phantom Secure, a little over a year ago, was the world leader in providing illegal encrypted communication services for the top international drug traffickers in the world. But perhaps no more. On March 8, 2018, the CEO of Phantom Secure, a Vancouver [...]

NCIS discovers jail pay FinTech app used by prisoners to launder money

Agents from NCIS have charged several prisoners, who used social media and online dating sites, with extortion and money laundering for blackmailing members of the military for money. The scheme cost 442 service members from the Army, Navy, Air Force and Marine Corps from across the United States more than $560,000 in financial losses. The prisoners [...]

A guy stole $2M in Bitcoin mining equipment, escaped from prison, jumped on a plane with the Prime Minister of Iceland and no one stopped him

Sindri Por Stefansson was recently sentenced to 4 1/2 years in prison in Iceland for masterminding the theft of $2M worth of Bitcoin mining machines. This is another one of those stories that only happens in the Bitcoin world. Mr. Stefansson was arrested in February 2018 in Iceland with several others, and ordered held in [...]

US identifies Canada as major money laundering country, and notes concern over its low prosecution rate

Canada once again a “Major Money Laundering” country The 2019 “International Narcotics Control Strategy Report” (INCSR) published on Friday by the U.S. Department of State identifies Canada once again as a “major money laundering country” along with a host of risky countries for financial crime. A “major money laundering country” is one whose banks and financial [...]

Vancouver ICO firm co-founders alleged to have defrauded investors

RCMP Investigation According to court filings in Canada, Kevin Hobbs and Lisa Chang, the two co-founders of an ICO called EtherParty FUEL and an associated company, Vanbex, based in Vancouver, are allegedly under investigation by the Federal and Serious Organized Crime Division of the RCMP for, inter alia, fraud and are also allegedly under investigation by [...]

SNC Lavalin – its about “playing true”

Sometimes non-lawyers ask me about the SNC Lavalin situation – some don’t get what all the fuss is about. And I get why they don’t get it  – while most lawyers across Canada were troubled by the prospect of the interference in a prosecution by politicians for political gain occurring in Canada, I think it [...]

A guy says he gave $3M of Bitcoin to a stranger to sell in Hong Kong and, you guessed it, says he never saw it again

This is one of those stories that could only happen in the Bitcoin world. In June 2017, a guy named Nico Constantijn Samara, from the Netherlands, who owned over 1,000 Bitcoin worth US$3.1 million, travelled to Hong Kong to sell them to a stranger. When he arrived, he discovered that under Hong Kong banking law, [...]

Alleged drug dealer in Vancouver tied to Silk Road facing extradition

A Vancouver man, James Ellingson, is the subject of an extradition request by the US, based on charges that include money laundering and narcotics importation from the Southern District of New York (“SDNY“). Ellingson was arrested in Vancouver on October 29, 2018, under an Extradition Act provisional warrant. According to the SDNY, Ellingson sold drugs on the [...]