Two Hong Kong billionaires convicted of money laundering over Macau government procurement case

Surprising criminal conviction of two Hong Kong tycoons In a surprising decision, the Macau Court of First Instance has convicted two high-profile Hong Kong businessmen of money laundering. Joseph Lau Luen-hung, 劉鑾雄, and Stephen Lo Kit-sing, 羅傑承, each received a sentence of five years and three months in prison and were sentenced in absentia.  Mr. Lau is the […]

10th Annual National Money Laundering Symposium at Osgoode Hall Law School

The agenda is out for the upcoming 10th Annual National Symposium on Money Laundering in Toronto on April 4, 2014. The Symposium includes sessions on the following: Report from Gerald Cossette, Director of FINTRAC on Current Money Laundering and Terrorist Financing Trends in Canada. Financial Institution Lessons Learned from US and Canada on Money Laundering […]

“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 […]

Liberty Reserve founder pleads guilty to money laundering

Money laundering conviction The US government announced that one of the co-founders of Liberty Reserve, Vladimir Kats, pleaded guilty to money laundering and operating an unlicensed money transmitting business yesterday. The US government found that Liberty Reserve was one of the world’s most popular virtual currency services. It’s co-founders were indicted in the U.S. in May […]

New York’s so-called “Lady Pimp” sentenced

Money laundering sentence The so-called “Lady Pimp” of New York City, Jay King, has been sentenced to three years in prison for running a prostitution operation in three states using escorts. Ms. King pleaded guilty to enterprise corruption and money laundering in connection with the operation. Several men who were clients  were also either indicted […]

Hong Kong woman sentenced for being a money mule for laundered Canadian funds

Canadian funds carried by money mule to China The Court of Appeal for Hong Kong has upheld the money laundering conviction of a woman who acted as a money mule to China, and increased her sentence to two years. The decision, HKSAR v. Ngai Fund Sin Apple (律政司司長 訴 倪鳳仙), CAAR 1.2013, is one of a series […]

Two UK men convicted of money laundering in connection with carbon fraud in one of first green collar convictions

One of first green collar crime convictions Two men in the U.K. were convicted this week of money laundering and fraud in one of the first green collar crime cases, and certainly one of the first cases involving Canada. The two men, David John Downes and Ian David Macdonald, sold shares in entities which claimed […]

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 […]

Canadian pleads guilty to money laundering in US over online gambling

Nelson Burtnick, the Canadian executive who was indicted for money laundering in April 2011 in connection with his role operating the Full Tilt Poker gambling website, pleaded guilty to money laundering today. He was indicted, along with several others, for money laundering, bank fraud, and illegal gambling for disguising payments from U.S. gamblers as payments […]