Nigeria obtains asset seizure in Canada of fancy US$57 million Bombardier jet said to be owed by PEP and well-known convicted money launderer

Tweet The government of Nigeria obtained an asset seizure order in a Quebec Court to restrain a jet made by Bombardier, a Canadian airplane manufacturer that makes luxury jets for the elite of the world. The application in furtherance of the asset seizure was for a politically exposed person (“PEP“) from Nigeria, a former government […]

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

Tweet 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 […]

Nigeria says US$150 billion stolen from state coffers in 10 years by politically exposed persons

Tweet Whopping $150 Billion Stolen from Nigeria in 10 Years Nigeria’s new President, Muhammadu Buhari, today said that the government believes that its officials have stolen approximately US$150 billion from the state in the past ten years.  In anti-money laundering law, high ranking government officials with access to state property and assets are politically exposed persons […]

News report says that $125 million paid to listed terrorist groups for ransom payments

Tweet According to this article in the New York Times, governments of the European Union have paid at least $125 million to terrorist organizations, mostly Al Qaeda, since 2008 and $66 million of that was paid last year. The US Treasury Department estimates the figure is closer to $165 million and believes that ransom payments […]

Senate report says dirty money still entering U.S. – and there’s a Canadian connection

Tweet Dirty money entering the U.S. from foreign nationals The Senate Committee on Homeland Security & Governmental Affairs released a special money laundering report today that describes four case studies of foreign politically exposed persons (“PEP“) who laundered money in the U.S. without detection. Two of the case histories have a Canadian connection. The 330-page report, […]

Housing boom in Kenya may be tied to Somali pirate trade

Tweet The housing boom in Kenya and dramatic increases in housing prices in Nairobi has prompted the Kenyan government to launch an investigation into property owned by foreigners according to a report by the Associated Press. The investigation is the result of allegations that Somali pirates are buying real estate in Kenya in record numbers […]