Alleged ‘king of money laundering’ arrested

Tweet Colombia’s alleged ‘king of money laundering’ Oscar Fernando Cuevas, was arrested yesterday in Colombia, under an extradition warrant from Spain. According to Colombia Reports, Cuevas made a fortune laundering money for the now-defunct Cali Cartel and the Revolutionary Armed Forces of Colombia (known as FARC) and is alleged to have laundered more drug money than […]

Vatican Bank pledges compliance with anti-money laundering rules

Tweet The Institute for Works of Religion, commonly known as the Vatican Bank, has pledged to implement anti-money laundering legislation based on the FAFT Recommendations that would require it to report suspicious transactions, ascertain the identity of their clients, report large transactions and establish an anti-money laundering compliance regime. The Vatican Bank has also agreed to […]

4 U.K. men facing nine years in jail if they don’t pay £800,000 laundered in casinos

Tweet A U.K. professional gambler, Harvinder “Micky Singh” Batth, and three co-defendants must come up with £800,000 in restitution in the next six months or spend more time in jail. Batth was a member of a U.K. group that laundered millions of pounds at casinos on behalf of crime bosses. He was a well-known professional […]

Vatican Bank being investigated for money laundering

Tweet Italian authorities announced today that they have impounded US$30 million from the Institute for the Works of Religion, or as many call it, the “Vatican Bank”, and placed its top two officers, president Ettore Gotti Tedeschi and director general Paolo Cipriani, under investigation in connection with a money laundering inquiry. The 2005 Directive 2005/60/EC […]

Noriega extradited to France to face money laundering charges

Tweet Former Panamanian President Manuel Noriega was extradited to France from the U.S. on an extradition warrant to face charges that he laundered US$3.15 million in drug profits through transactions that included buying luxurious apartments in Paris. Noriega was in jail serving a sentence for multiple charges, including drug trafficking in the U.S. from 1990 […]

Dozens arrested for money laundering in Europe

Tweet Dozens of people were arrested across Europe in a major crackdown on Eastern European mafia led by Spanish authorities and dubbed “Operation Java”. At least 24 were detained in Spain and another 50 arrested in Germany, Austria, Switzerland, France and Italy for suspected ties to Georgian and Russian crime gangs. Various of the suspects […]

Money laundering trial opens in Spain

Tweet Spain’s largest money laundering trial, dubbed the “ballena blanca” (white whale) case, started in Malaga, Spain today. Fernando del Valle, a Chilean-born lawyer, and 18 others are on trial charged with money laundering, forgery, false testimony and crimes against the Spanish Treasury for laundering over 12 million euros from drug trafficking, prostitution, and tax […]

Senate report says dirty money still entering U.S. – and there’s a Canadian connection

Tweet Dirty money entering the U.S. from foreign nationals The Senate Committee on Homeland Security & Governmental Affairs released a special money laundering report today that describes four case studies of foreign politically exposed persons (“PEP“) who laundered money in the U.S. without detection. Two of the case histories have a Canadian connection. The 330-page report, […]