Well-known leaders of organized crime welcomed at Montréal area casinos

According to an investigation by a number of journalists with the Journal de Montréal (here), two casinos managed by Loto-Québec, a government agency, laid out the red carpet to well-known organized crime figures associated with the Cosa Nostra Mafia and Hell’s Angels. Stefano Sollecito was VIP gambler Their investigation found that Stefano Sollecito, said to […]

York Regional Police bust alleged illegal casino in Ontario operating from luxury mansion by Chinese PEPs and seize $11 million in assets and cash, illegal guns and arrest 29

Project Endgame York Regional Police in Ontario announced the arrest of 29 people following the raid of an alleged illegal underground casino at a 20,000 square-foot mansion in Markham, Ontario, during the summer. The operation dubbed “Project Endgame”, resulted in several raids of alleged illegal underground casinos operating in York region. The first bust was […]

Proceeds of crime from US$550 million Ponzi scheme run by “obscenely greedy con artists”, including diamonds, gold coins, sports memorabilia, art, comic books, go on sale at online auction next week as Covid-19 solution

The proceeds of crime from a massive US$550 million Ponzi scheme perpetrated by two convicted fraudsters in the US – Kevin Merrill and Jay Ledford – are being auctioned at an online auction house starting next week, in part because of Covid-19. Diamonds, sports memorabilia, art, gold coins, comic book from securities fraud being sold […]

A “Criminal Blockchain” – York Regional & Italian Police take down alleged major ‘Ndrangheta players and seize over $35 million in alleged proceeds of crime

A criminal Blockchain linking Calabria and Toronto York Regional Police, north of Toronto, Canada, made a major money laundering bust last week against the ‘Ndrangheta, arresting several of its alleged members including its alleged powerful leader, Angelo Figliomeni. Figliomeni is charged with money laundering, directing a criminal organization and fraud. Another eight alleged associates of Figliomeni were […]

Casino executives alleged to have been collecting debts when arrested in China

According to this article, the 18 executives of Crown casinos that were arrested in China in October 2016, were in China to collect the debts of what are called “VIP customers” who go on gambling trips through junket schemes. One of the people arrested was Jason O’Connor, who was the VIP executive for Crown Casinos, […]

Mafia dad and his 3 children sentenced to long jail terms for illegal gambling

According to several news reports in Italy (here, here and here), a whole family of the ‘Ndrangheta, an international criminal organization that originated in Italy, was convicted Wednesday of illegally operating online gambling websites after a three year trial called “Black Monkey”. Nicola Femia, his daughter and two sons were sentenced to 56 years incarceration collectively […]

The definitive guide to anti-money laundering compliance at casinos and regulated online gambling sites for casinos, investors, regulators, banks and players

A Q&A on money laundering for casinos and online regulated poker websites 1. Executive Summary Money laundering is a process in which so-called ‘dirty money’ from the proceeds of crime is transformed into ‘clean money’ or legitimate money or other assets, such as cars, art, homes or investments. Money laundering typically occurs in three stages: […]

FBI – “No safe haven anywhere for money launderers” – The fascinating $1B 1MDB civil asset forfeiture case

Largest civil asset recovery case in US of this kind On July 20, 2016, the US Department of Justice filed a civil forfeiture case in California to recover assets of more than $1 billion in alleged proceeds of crime resulting from fraud allegedly committed by individuals associated with the Malaysian government’s 1Malaysia Development Berhad (“1MDB“). […]

Europol says organized crime is quickly changing to virtual methods

In a report released yesterday on serious organized crime called “Exploring Tomorrow’s Organized Crime” (the “Report“), Europol found that organized crime is now becoming a virtual activity over the Internet and as a result, transnational criminal organizations (“TCO“) are migrating towards virtual payment methods to conduct commercial affairs, including digital payments. According to Europol, the […]

The Chinese Way – the impact of China’s anti-corruption campaign on trade-based money laundering and Macau casinos

Money Laundering Bulletin in the UK has a good article out today on the anti-corruption drive in China and its impact on the casinos in Macau, which explores the anti-money laundering lapses and lack of legislation in the gambling industry in Macau, and the corresponding increase of trade-based money laundering in China. Trade-based money laundering According […]