Developer sued for taking proceeds of crime from foreign nationals

New York real estate developer being sued for $18 billion for accepting alleged proceeds of corruption from foreigners who were known PEPs According to an article yesterday in the Wall Street Journal, real estate developers in New York are being sued for accepting proceeds of corruption from politically exposed persons (PEP). The plaintiffs are the […]

UN Chief charged in money laundering bribery scheme for allegedly accepting millions in cash from Chinese casino billionaire

Former UN President Charged The former United Nations (“UN”) President of the UN General Assembly, John Ashe, the UN Deputy Ambassador, Francis Lorenzo, a Chinese foreign national billionaire, Ng Lap Seng (also known as David Ng) and two of his associates were charged in New York with various offenses over an alleged bribery scheme. Two defendants […]

Structuring – How Moving Funds from China to Vancouver Often Mirrors How Columbian Drug Lords Move their Money

How is Some Money Moved from China? Often with Smurfs and Structuring. I am often asked how Chinese foreign nationals who have immigrated to the US, China, or EU, or are attempting to, move millions of dollars in funds to other countries unimpeded when there are Chinese banking regulations (commonly called currency controls) that prohibit […]

In 2015, more countries become terrorist hotspots; Canada moves up ranks to become 35th in terrorism threat index; US moves up to 17th place

US and Canada move up on the terrorism threat index 2014 and thus far in 2015, have been marked by a dramatic increase in terrorist incidents and in the number of countries that have been pulled into terrorist activity and for which financial institutions have been used for terrorist financing. Western countries are becoming less […]

The FIFA scandal and why banks may be facing regulatory issues over KYC failures

FIFA Indictment against PEPs The 47-count Indictment against 14 persons employed or engaged by FIFA by the US District Court for the Eastern District of New York (“EDNY“), and their arrest may do more than shake up international soccer – it also has the potential to result in significant fines against many global banks who processed […]

Mother of the Girlfriend of Mayor of Vancouver held on corruption charges in China

In the latest twist in the continuous coverage of high-ranking Chinese foreign nationals who immigrated to Vancouver, the mother of the girlfriend of the Mayor of Vancouver has been incarcerated over corruption charges in China. Here is the story as reported in South China Morning Post. The Mayor, Gregor Robertson, has a girlfriend who is […]

2nd Annual ACAMS Conference in Toronto on Anti-Money Laundering

The ACAMS 2nd Annual AML & Financial Crime Conference Canada in Toronto on June 9-10, 2014 has an interesting and exciting list of speakers and topics. Highlights of this year’s program include: Corruption Presentation – Interpol’s Michel Girodo. Critical Guidance on Anti-Money Laundering Laws – Jamal El-Hindi, Associate Director, Policy Division, FinCEN.  Anti-Bribery Update – […]

Inquiry in Canada hears that P3 infrastructure hospital project is “biggest corruption fraud” in Canadian history

“On m’a toujours dit que les PPP c’était anti-collusion” –  Infrastructure Québec According to law enforcement testimony at Canada’s Charbonneau Commission heard last week, the $2 billion public-private partnership (“P3“) infrastructure project in Canada to build the McGill University Hospital Centre (“MUHC“) is the largest corruption fraud case in the history of Canada. It’s also […]

China seeking advice on deporting 1,000 EB-5 immigrants from US and recover assets in what may be the first cases of G20 “denial of safe haven” policy

Removal of Foreign Nationals & Asset Recovery According to several news reports, such as the one here, the government of China is in discussions with the US government (and firms) regarding the process to deport or extradict former Chinese nationals believed to have immigrated with billions of dollars in proceeds of crime from corruption. There […]

Equatorial Guinea Vice President charged with money laundering

The Vice-President of Equatorial Guinea, Teodorin Obiang, has been charged with money laundering in a multinational corruption case in which it is alleged that he illegally moved state assets to other countries, including France. His lawyer in France, Olivier Metzner, was found dead last year floating in the sea near Boëdic island in Gulf of Morbihan. […]