Tweet Thomas Petters, a Missouri businessman, was sentenced to 50 years in jail today for carrying out a Ponzi scheme that netted about US$3.7 billion over a 16-year period. In December 2009, Petters was convicted of several charges including conspiracy to commit money laundering, and money laundering. Petters’ company, Petters Worldwide Group, once owned Polaroid. […]
Tweet Scott Rothstein, a Florida lawyer who co-founded the now-defunct firm, Rothstein Rosenfeldt Adler, pleaded guilty to running a US$1.2 billion Ponzi scheme and five counts of RICO conspiracy, fraud and money laundering in the biggest investment fraud case in South Florida history. Rothstein, 47, is expected to receive a 30 to 50 year sentence […]
Tweet Government official had assets worth 57 times his salary The Collegial Bench of the Court of First Instance of Macau today sentenced a whole family for money laundering in connection with bribes over a government infrastructure project. The family members are related to Macau’s former Secretary for Transport and Public Works, Ao Man Long. […]
Tweet $485 Million Laundered to Vancouver and Elsewhere In a fascinating series of judgments from Hong Kong, six wealthy immigrants to Vancouver from China, who laundered over US$485 million through casinos in Macau and Las Vegas, and banks in Canada and Hong Kong, were ordered to repay stolen funds to the Bank of China. The […]