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fraud

A lawyer, formerly with Baker & McKenzie in New York has pleaded guilty to money laundering and conspiracy to commit securities fraud while with the firm.

CoNet Section: 

It's an oldie but a goodie, rather like that phrase much beloved of DJ who used to spin the disks in the 1960s and 70s. There's a massive upsurge in an old-fashioned internet fraud / money laundering scam - and the morons doing it have sent multiple copies to sandbox addresses at World Money Laundering Report, our sister publication and other companies within The Anti Money Laundering Network.

Way to go!

FCRO Subsection: 

James D Levitt is 66 years old and facing serious jail time. Aside from his latest conviction, he's behind on payments on a prior criminal conviction in respect of which he still owed more than USD400,000.

CoNet Section: 

Hong Kong's Independent Commission Against Corruption has charged a number of people with a range of offences alleged to have been committed against insurance companies.

BIScom Subsection: 

Desiree Brown, the former treasurer of a private mortgage lending company, Taylor, Bean & Whitaker (TBW), has pleaded guilty to conspiring to commit bank, wire and securities fraud for her role in a more than USD1,900 million fraud scheme that contributed to the failures of Colonial Bank and TBW.

A former director of Australian company Streetwise has been jailed for 8 1/2 years by a Sydney court for making fraudulent representations in support of applications for loans to his companies and fraudulently obtaining investments.

BIScom Subsection: 

A barrister, charged by Hong Kong's Independent Commission Against Corruption (ICAC), was today (Tuesday) sentenced to one year's imprisonment at the District Court for attempting to steal more than HK$30,000 from two foreign clients by claiming that the sums would be used for hiring a Queen's Counsel (QC) for them.

CoNet Section: 

A lawyer in Orange County, California, has pleaded guilty to the misappropriation of more than USD 2 million awarded to claimants in a class action suit.

CoNet Section: 

The Hong Kong Monetary Authority has identified a website which it says is fraudulent and a fake of a real bank's online presence. Of itself, that's not especially rare. But this one is different: the name of the site is in Chinese characters and there aren't very many of them around.

BIScom Subsection: 

David B. Stocker, a lawyer in Phoenix, Arizona, pleaded guilty on11 March 11, 2009, in U.S. District Court in Alexandria, Virginia., for his participation in a stock manipulation conspiracy known as a "pump-and-dump" scheme. On 12 March 2010 (yes, a year later) Stocker has been sentenced.

BIScom Subsection: 

The latest plan to restructure the balance sheets of Japanese banks, overburdened with "non-performing loans," is bound to lead to fraud and corruption, says leading counter-money laundering strategist Nigel Morris-Cotterill, Head, The Anti Money Laundering Network.

From World Money Laundering Report Vol. 2. No. 1 published 22 January 2000

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