Chinese court sentences gang for money laundering using digital yuan
The Chinese CBDC’s “controllable anonymity” seems to be very highly controlled. Go to Source
Money Laundering
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DOJ and FBI Unveil Charges Against 3 UK Nationals in NFT Rug Pull Scam
The U.S. Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) have unveiled charges against three UK nationals for a fraudulent non-fungible token (NFT) scheme involving “Evolved Apes,” promising a game development. “They allegedly took investor funds, never developed the game, and pocketed the proceeds.” US Charges 3 UK Nationals in NFT Rug … Read more
Bitcoin is no ‘silver bullet’ for money’s ethical problems
Both Bitcoin and fiat currency are often in the firing line over ethical concerns, with a dedicated group of defenders and critics. Go to Source
Nigeria defends Binance exec prosecution amid US lawmakers’ criticism
The minister assured that Binance had received appropriate consular access from the U.S. and all due care, following standard diplomatic protocols and the rule of law. Go to Source
US Media Executive Charged in $67 Million Fiat-to-Crypto Money Laundering Scheme
The U.S. DOJ has charged the CFO of a media company with one count of money laundering and two counts of bank fraud for participating in a scheme that laundered criminal proceeds using cryptocurrency. Authorities allege that Weidong Guan and his accomplices used bank accounts opened with stolen personal identification information to transfer the funds … Read more
Ex-Binance CEO Changpeng Zhao Begins 4-Month Prison Term in California
Several reports have indicated that the ex-CEO and founder of Binance, Changpeng Zhao (CZ), has commenced his four-month term at a low-security federal facility in Lompoc, California. CZ Enters Low-Security Facility After Pleading Guilty to Money Laundering Charges Ex-Binance boss Changpeng Zhao (CZ) is now beginning his prison sentence after admitting guilt to charges related … Read more
Crypto community backs CZ amid prison term
Once he completes his four-month sentence at Lompoc prison, Zhao plans to resume his involvement in cryptocurrency. Go to Source
US Jury Convicts Two in $8M Crypto-Linked Dark Web Drug Scheme
A federal jury in Salt Lake City convicted Oluwole Adegboruwa and Enrique Isong, foreign nationals, of multiple drug-related charges. From 2016 to 2019, they generated over $8 million in cryptocurrency, including bitcoin and ethereum. Adegboruwa operated under the names “King Odua” and “Alagbada726,” converting cryptocurrencies to traditional currency. Sentencing is scheduled for August. The jury … Read more
Former FTX Executive Ryan Salame Sentenced to 7.5 Years for Criminal Charges
Former FTX executive Ryan Salame was sentenced to seven and a half years in prison by Judge Lewis Kaplan of the U.S. District Court for the Southern District of New York after pleading guilty to criminal charges, including engaging in an unlawful political influence campaign and operating an unlicensed money transmitting business. Salame, who once … Read more
Malaysian Authorities Bust Syndicate Accused of Laundering Fraud Proceeds via Cryptocurrency
Law enforcement officials in Malaysia recently arrested ten individuals linked to a criminal syndicate that allegedly used cryptocurrencies to launder fraudulent proceeds. Assets, including motor vehicles, valued at more than $7.7 million were seized, and bank accounts holding approximately $10.8 million were frozen. Syndicate Accused of Channeling Illegally Acquired Funds into Malaysia Authorities in Malaysia … Read more
