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FinCEN Enforcement Stacks the Deck in AML Compliance for Casinos and Card Clubs

Stephanie Booker, Associate Director for Enforcement, Financial Crimes Enforcement Network (“FinCEN”), recently gave a speech at the Nevada Bar Association’s Bank Secrecy Act Conference in Las Vegas. Involved in the...more

FIFA Investigation Updates: Plea Agreement with American FIFA Official Unsealed

On June 15, the U.S. District Court for the Southern District of New York unsealed a 2013 plea agreement under which American FIFA Executive Committee Member Chuck Blazer secretly pleaded guilty to ten charges related to...more

Foreign Corrupt Practice Act Update

Recent criminal indictments of FIFA officials should remind businesses to review their obligations under the Foreign Corrupt Practices Act (FCPA). Those who violate the FCPA can face civil and criminal penalties, including...more

Like a Rolling Stone and Charitable Donations Under the FCPA

Today we celebrate one of the seminal achievements in rock and roll for it was on this day, 50 years ago, in 1965 that Bob Dylan recorded his single Like a Rolling Stone. Columbia Records executives initially rejected the...more

FIFA and BHP Billiton: The Unique FCPA Challenges Present in International Sports

Recent enforcement actions by the Department of Justice and Securities and Exchange Commission have raised the profile of corruption in international sport and highlight unique FCPA compliance concerns. This note will explain...more

INTERPOL suspends FIFA donation funds, but what happens to the money now, and what happens to INTERPOL?

Last week, I addressed INTERPOL’s listing of several individuals who are wanted for prosecution by the United States for FIFA-related financial crimes. That post is here. In light of those listings, RNLJ requested...more

Why Should Americans Care About the FIFA Indictments? Part IV – Corruption is a Global Scourge

Today, I conclude my four-part series on the above question posed to me recently by a colleague. In Part I, I responded that only the US government had the wherewithal and will to do so and that it continued the...more

FIFA and INTERPOL, together again- U.S. charges FIFA officials and obtains Red Notices against them

Unless you’ve been living under a rock, you probably know that FIFA has been dealing with a scandal lately: the U.S. government has charged multiple individuals with ties to FIFA with expansive criminal violations, and...more

FIFA Investigation Updates: President Resigns Amidst Corruption Probe; Interpol Issues Red Notices For Six

On June 2, continuing the fallout from the racketeering, wire fraud, and money laundering indictments announced last week by DOJ against soccer executives at FIFA and others tied to the organization, FIFA President Sepp...more

FinCEN Imposes Largest-Ever Penalty Against a Casino

On June 3, the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a $75 million penalty against a Northern Mariana Islands casino for Bank Secrecy Act violations – the largest-ever FinCEN penalty assessed...more

DOJ Indicts 14 In Global FIFA Corruption Crackdown, Announces 6 Guilty Pleas

The DOJ on May 27 unveiled indictments in one of the most sprawling, long-running alleged corruption rings in recent decades, charging nine executives of FIFA or related soccer governing bodies, as well as five sports...more

FinCrimes Update - May 2015 Supplement

FEDERAL RESERVE ORDERS TWO FINANCIAL INSTITUTIONS TO IMPROVE BSA/AML COMPLIANCE PROGRAMS - On June 1, a Boston-based international financial services holding company and its banking subsidiary agreed to improve...more

FinCrimes Update - May 2015 Summary, Volume 2, Issue 5

FINCEN NAMES JAMES EL-HINDI AS NEW DEPUTY DIRECTOR - On May 21, FinCEN announced Jamal El-Hindi as its new Deputy Director. Since January 2015, El-Hindi has been serving as the agency’s acting Deputy Director, and...more

EU: new AML rules approved by the Council of Europe

On 20 April 2015, the Council of Europe adopted its position at the first reading on new rules aimed at preventing money laundering and terrorist financing. This is the part of the final stages of the passage of what will...more

Charities and Gambling

Most gambling is illegal in Virginia. Seeking creative means to raise money for laudable purposes, legitimate Virginia charities sometimes venture into dangerous waters in the belief that their philanthropic goals insulate...more

Trump Taj Mahal Fined Record $10 Million for Inadequate AML Program

As disclosed recently in a bankruptcy court filing, on January 27, 2015, the Financial Crimes Enforcement Network (“FinCEN”) imposed a $10 million civil money penalty pursuant to the Bank Secrecy Act (the “BSA”) on Trump Taj...more

Attacking the Money-Laundering Problem in Mexico

According to the Los Angeles Times, Mexican officials have estimated the amount of laundered money in the Mexican economy at $50 billion annually—three percent of the legitimate Mexican economy. The CIA World Fact Book...more

GB: Gambling Commission updates AML guidance

The Gambling Commission has published updated guidance to the industry aimed at assisting operators grapple with the complicated requirements of the Proceeds of Crime Act 2002...more

FinCEN Doubles Down on Casinos with Heightened Regulatory Expectations - Casino Managers and Tribal Gaming Commissioners Need to...

For the second time in nine months, Financial Crimes Enforcement Network (FinCEN) Director Jennifer Shasky Calvery has publicly addressed FinCEN's increasing concerns regarding casino compliance with the Bank Secrecy Act...more

Spain: New AML regulations have been approved

Yesterday the Spanish Official National Gazette published a new regulation developing the Spanish AML legislation (Royal Decree 304/2014, of 5 May 2014, approving the regulation developing Law 10/2010, of 28 April 2010, on...more

NHL Players Defrauded in Series of Investment Schemes

National Hockey League Players were the primary victims of a series of fraudulent investment schemes orchestrated by financial adviser Phillip Kenner and former professional race car driver Tommy Hormovitis. Collectively, the...more

Movie Production Loans Result In 27-Year Stay At The Greybar Hotel

In 2007, the Department of Corporations issued this Desist & Refrain Order against Mahmoud Karkehabadi and others for violations of the Corporate Securities Law of 1968. The Department also made a criminal referall to the...more

Chad Elie v. Ifrah Law PLLC

Complaint (Exempt From Arbitration)

Chad Elie v. Ifrah Law PLLC: Complaint (Exempt From Arbitration) DISTRICT COURT CLARK COUNTY NEVADA Case No. A-13-679951-C Dept No.: XV I Filed April 11, 2013 S!GAL CHATTAH, ESQ. Nevada Bar No.: 8264 LAW OFFICES...more

Bitcoins: Online Currency’s Uncharted Frontier

Bitcoin – it sounds like a token you might use to play skeeball at a beachside arcade. It is actually a relatively new, virtual online “currency” being used for payments across the Internet. While some observers have noted...more

State of New York v. Vincent Basciano Jr., et. al. (Michael Colbert)

Indictment

State of New York Indictments of Elaborate Sports Betting Ring Involves Offshore Online Sports Betting Web Sites Allegedly Utilized by the Defendants for illegal sports wagering in the US: In addition to traditional...more

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