Money Laundering

Auto Added by WPeMatico

Indian Crypto Trader Arrested for Allegedly Using USDT to Launder Money on Behalf of Chinese Online Betting Scammers

by

An Indian law enforcement agency has arrested Naisar Kothari, a cryptocurrency trader, for his role in a money-laundering scheme linked to online Chinese betting scams. The arrest was made after the country’s Enforcement Directorate (ED) detected large amounts of money “being inexplicably transferred to some cryptocurrency traders.” In addition to Kothari’s arrest, the ED conducted … Read more

Former Microsoft Engineer to Serve 9 Years in Prison in a Case That Involves Use of Bitcoin Mixers

by

A U.S. court in Seattle has sentenced a former Microsoft engineer to 9 years in prison after finding him guilty of 18 federal felonies relating to his elaborate scheme to defraud the tech giant $10 million. In passing the judgment, the court blasts Volodymyr Kvashuk, a software engineer and citizen of Ukraine, for attempting to … Read more

$200 Million Brazilian Crypto Fraud Scam: The US Seizes $24 Million Worth of Digital Currencies

by

The United States Department of Justice (DOJ) says it has seized cryptocurrencies worth $24 million after receiving an official request from the government of Brazil. The seizure stems from an ongoing investigation into the $200 million cryptocurrency scam that may have defrauded tens of thousands of Brazilians. The authorities in Brazil say the scammers duped … Read more

Dutch Police Seize $33 Million in Bitcoin from Couple Accused of Money Laundering

by

Prosecutors from the Netherlands have seized 2,532 bitcoins worth $33 million after a couple was convicted of money laundering by the Rotterdam District Court. The man and his wife were sentenced to two years for illegal money transmission and the court claims the couple’s bitcoin stash was used on the deep web. Dutch officials recently … Read more

Mastermind of Alleged Billion Dollar Spanish Pyramid Scheme Arrested, Faces 16 Year Prison Sentence

by

The CEO of Arbistar the Spanish investment company, Santiago Fuentes, has been arrested and arraigned on charges of fraud, belonging to a criminal organization and money laundering. Fuentes, who has been in hiding since September, was arrested at one of his properties in the south of Tenerife. The Arbistar Pyramid Scheme Fuentes’ arrest stems from … Read more

Peter Schiff’s Euro Pacific Bank Under Investigation by Tax Authorities in 5 Countries

by

Euro Pacific Bank, founded by gold bug and bitcoin skeptic Peter Schiff, is reportedly under investigation by the tax authorities of five countries. The bank’s customers allegedly include several tax fraud masterminds and a Russian syndicate described by the FBI as the world’s worst cybercrime group. Peter Schiff’s Euro Pacific Bank Probed by Tax Authorities … Read more

FSB Report Says Stablecoins Promote Financial Inclusion: Urges Regulators to Tighten Laundering Controls

by

The Financial Stability Board (FSB) says stablecoins have the potential to enhance the efficiency of the provision of financial services. The body adds that the hybrid cryptocurrencies have the potential to bring efficiencies to payments (including cross-border payments) as well as to promote financial inclusion. Yet despite this acknowledgment, the FSB still argues against the … Read more

You have not selected any currencies to display