Money laundering and securities fraud indictment unsealed against key promoter of OneCoin who raked in hundreds of millions of dollars selling fake coins

After two years, the Attorney General for the Southern District of New York has unsealed the indictment against Karl Sebastian Greenwood, a key promoter of the Bulgarian initial coin offering, and supposed digital currency called OneCoin. Greenwood was allegedly extradited to the US from Thailand in 2018. Indictment unsealed In the indictment, Greenwood is charged, […]

Narcos Canada: Canadian banks & professions deal with significant proceeds of crime from narco trafficking and serious crimes; Canada listed again as “major money laundering country”; plus 10 money laundering areas of concern identified by the US for Canada

Canada still on the Majors List Canada made it on the “Majors List” in the annual US State Department’s International Narcotics Control Strategy Report (“INCSR“) again this year. The Majors List is three lists and it designates countries that are (1) “Major Illicit Drug Producing and Drug Transit Countries”; (2) “Major Precursor Chemical Source Countries”; […]

Taiwan busts US$462M underground bank, money laundering and gambling operation that allegedly influenced elections

The police in Chiayi, Taiwan, shut down an underground banking operation and international gambling syndicate allegedly used to influence municipal and federal election results. The underground bank moved US$462 million from China to Taiwan in ways that are designed to circumvent the laws in China that control currency conversions and exports. Arrested were Hsiao (蕭) […]

Bitcoin advisor arrested for allegedly providing technical education on Blockchain to North Korea

Unsealed criminal complaint The US Attorney for the SDNY, together with the FBI yesterday announced the arrest of Virgil Griffith, a cryptocurrency advisor, in connection with technical services he allegedly provided to educate the Democratic People’s Republic of Korea (“North Korea”) on sanctions avoidance and money laundering. Griffith was the subject of a criminal complaint […]

Canadian jailbird was able to traffic in fentanyl internationally using Bitcoin, US authorities say, and launder money from jail

A Canadian incarcerated near Montreal, Jason Berry, is facing extradition to the US over charges that, from jail, he trafficked fentanyl all over the world. According to the extradition request, the fentanyl sold by Berry caused the death of several Americans, as well as Canadians from overdoses. Berry is serving a 12 year sentence for […]

8 questions you may have had about the movie “The Laundromat” and yes, there are British Columbia connections

Part 1 – Background Skip this Part 1 if you know about Mossack Fonseca and shell and shelf companies. The movie “The Laundromat” is about lawyers and big law firms and the system that fuels offshore money movements, often involving the proceeds of crime. The movie is about a big law firm called Mossack Fonseca that was based […]

Canadian money launderer from Vancouver loses another appeal in Hong Kong; ordered deported to India to face drug trafficking charges

A Canadian man, originally from China, who is a convicted money launderer, lost a second appeal in the Hong Kong Court of Appeal two weeks ago, to prevent his deportation to India to face trial for drug trafficking. Xie Jing Feng, whom we wrote about here, appealed decisions for his removal on the ground of […]

Law firms flipping shelf and shell companies – is it the practice of law? Can it go through a bank trust account?

Shell games US law enforcement agencies recently signalled that they were stepping up enforcement, inter alia, in two ways: (a) as against professional money launderers; and (b) as against shell and shelf companies that law firms flip to clients. Professional money launderers under scrutiny the FBI explained recently, are accountants, hawalas, lawyers and individuals, as […]

Mexican national with alleged ties to money laundering, is fighting to re-enter Vancouver

The Vancouver Sun has an interesting story here about an immigration case in the Federal Court of Canada involving alleged money laundering of a politically exposed person (“PEP”) with ties to the leader of a Mexican political party called the National Action Party. Sergio Antonio Reyes Garcia, a Mexican national, arrived in Vancouver on March […]

US Treasury files civil claim against foreign Bitcoin exchange and its owner / officer to enforce penalties of $100M for AML failures

The US Attorney for the Northern District of California, on behalf of the US Treasury, has filed a civil complaint against the Bitcoin exchange known as BTC-e and one of its alleged owners / officers, Alexander Vinnik, to enforce over $100 million in monetary penalties for a series of anti-money laundering law violations. BTC-e was […]