Narcos Canada: Canadian banks & professions deal with significant proceeds of crime from narco trafficking and serious crimes; Canada listed again as “major money laundering country”; plus 10 money laundering areas of concern identified by the US for Canada

Canada still on the Majors List Canada made it on the “Majors List” in the annual US State Department’s International Narcotics Control Strategy Report (“INCSR“) again this year. The Majors List is three lists and it designates countries that are (1) “Major Illicit Drug Producing and Drug Transit Countries”; (2) “Major Precursor Chemical Source Countries”; […]

Brazil’s former President, his wife and son charged with money laundering

Brazil’s former president, Luiz Inacio Lula da Silva, and his wife and son were charged with money laundering and identity fraud in connection with real estate purchases. According to Brazil’s prosecutor, the former president used proceeds of crime to acquire real estate in Guaruja for he and his family that was destined for regular families in […]

PetroTiger executives charged with money laundering and bribery from Columbian transaction; general counsel pleads guilty

Two executives of PetroTiger, Ltd., a British Virgin Islands oil and gas company (“PetroTiger“), were charged with money laundering, wire fraud and bribery under the U.S. Foreign Corrupt Practices Act (the “FCPA“) for allegedly bribing foreign public officials to obtain a $39 million contract from Ecopetrol S.A., a state-owned petroleum company in Columbia (“Ecopetrol“), Latin America’s second […]

Alleged ‘king of money laundering’ arrested

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 Fores of Colombia (known as FARC) and is alleged to have laundered more drug money than anyone […]

Noriega extradited to France to face money laundering charges

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 to […]