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. […]

“If I had been a better lawyer…” Scott Rothstein’s wife and her lawyer sentenced in Ponzi scheme money laundering case

Kim Rothstein, the so-called “free-spending” wife of Scott Rothstein, was sentenced to 18 months in jail yesterday for plotting to hide over $1 million worth of jewelry to avoid it being seized as proceeds of crime. Mr. Rothstein is a former lawyer incarcerated for running a $1.4 billion Ponzi scheme through the trust accounts of […]

Swiss and US enter into anti-tax evasion agreement with wide-reaching prosecution implications for Americans, foreigners, advisors and entities with which they are affiliated

Anti-Tax Evasion Agreement The U.S. Department of Justice (“DOJ“) and the Swiss Federal Department of Finance have entered into an agreement that essentially ends Swiss bank secrecy and the renown of Switzerland as a tax haven (the “Agreement“). The Agreement: Applies not just to American taxpayers but also to foreigners and foreign entities who maintain Swiss bank […]

U.S. lawyer pleads guilty to conspiracy to evade taxes in connection with Swiss bank accounts held by U.S. clients

Tax Evasion Plea Edgar Paltzer, a lawyer called to the bar in Switzerland and the U.S. with the Zurich firm of Niederer, Kraft and Frey, pleaded guilty today in New York to conspiracy to evade taxes and faces up to five years in prison. According to Mr. Paltzer’s indictment, the bank with whom he was […]

Les avocats en France n’ont émis que 4 déclarations de soupçon in 2012

Rapport Tracfin 2012 Selon le rapport annuel d’analyse produit par Tracfin pour 2012, les 56,000 avocats en France n’ont émis que 4 déclarations de soupçon en 2012, et seulement 10 depuis 2008. Selon LexTimes, les avocats sont ouvertement opposés à participer au dispositif  qui serait en violation avec leur secret professionnel et les principes fondamentaux du droit mais […]

Lawyer subject to sanctions by U.S. for support to listed drug kingpins

Lawyer added to OFAC List The U.S. Department of the Treasury has designated a lawyer, Jose Antonio Nunez Bedoya, to its Specially Designated Nationals List (“SDNL“). Mr. Bedoya was added to the SDNL for incorporating several companies on behalf of members of Mexican organized crime, the Sinaloa Cartel, in an effort allegedly to create front companies […]

Lawyers arrested in largest mafia crackdown in Roman history

Mafia Crackdown in Rome Italian police arrested over 120 people today in its largest crackdown on mafia activities around Rome, including several lawyers alleged to have undertaken transactions and incorporated companies on behalf of the ‘Ndrangheta. According to the police, the ‘Ndrangheta ran multiple gambling operations and drug trafficking operations, and laundered the proceeds through […]

Court of Appeal in British Columbia rules that anti-money laundering and counter terrorist financing laws applied to lawyers infringe fundamental freedom

Anti-Money Laundering Laws Infringe Independence of Bar The Court of Appeal for British Columbia ruled today that the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, as it applies to lawyers in that province, interferes to an unacceptable degree with the independence of the Bar as a principle of fundamental justice, and as a consequence, held […]

Canada still a “major money laundering country” in 2013 International Narcotics Control Strategy Report

The 2013 International Narcotics Control Strategy Report (“INCSR“) published this month by the U.S. Department of State, particularly volume I on the drug trafficking trade, is more favourable of Canada than the last two years, primarily as a result of the enactment in Canada of the Omnibus Crime Bill C-10, know as the Safe Streets and […]

New York’s most expensive escort pleads guilty to money laundering

Former escort admits to money laundering Natalia McLennan, once touted as New York’s most expensive escort at $2,000 per hour, pleaded guilty to money laundering in New York City in connection with the operation of  the New York escort agency, New York Confidential where she worked as a prostitute. McLennan, who is from Montreal, moved […]