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Embezzlement Money Laundering

Morrison & Foerster LLP

Top 10 International Anti-Corruption Developments for April 2024

Designed for busy in-house counsel, compliance professionals, and anti-corruption lawyers, this newsletter summarizes some of the most important international anti-corruption law and enforcement developments from the past...more

King & Spalding

U.S. Supreme Court Holds Plaintiffs May Use RICO to Enforce Foreign Arbitral Awards

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In a January 17, 2023 Client Alert, we addressed the U.S. Supreme Court’s decision to grant certiorari in CMB Monaco v. Smagin and Yegiazaryan v. Smagin, two cases which concern the use of the Racketeer Influenced and Corrupt...more

Ius Laboris

Who needs an anti-money laundering officer?

Ius Laboris on

Both individuals and companies risk severe penalties if they contribute to money laundering, even if the contribution is the result of negligence. By appointing an anti-money laundering officer organisations will reduce their...more

King & Spalding

The U.S. Supreme Court Agrees to Decide Cases Regarding Whether and When Non-U.S. Plaintiffs May Use RICO to Enforce Foreign...

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On January 13, 2023, the United States Supreme Court agreed to hear two related cases in which it will decide for the first time whether and in what circumstances a foreign (non-U.S.) plaintiff may bring a civil action under...more

Oberheiden P.C.

Financial Crimes Compliance

Oberheiden P.C. on

Many businesses and businesspeople are exposed to potential legal liability for a wide variety of financial crimes. Minimizing financial crime risk or exposure is critical and requires strict compliance with the state and...more

Orrick - Finance 20/20

FinCEN Urges Financial Institutions to Focus on Detecting Proceeds of Foreign Public Corruption

Orrick - Finance 20/20 on

The Financial Crimes Enforcement Network (“FinCEN”) recently issued an advisory urging financial institutions (including certain cryptocurrency businesses) to implement controls to help detect proceeds of foreign public...more

Goodwin

FinCEN Issues Advisory For Financial Institutions to Look Out for Kleptocracy and Foreign Corrupt Activity

Goodwin on

In This Issue. The Financial Crimes Enforcement Network (FinCEN) is urging financial institutions to focus their efforts on detecting the proceeds of foreign public corruption; the Financial Industry Regulatory Authority...more

Gray Reed

IRS-Criminal Investigations Counts Down the Top 10 Cases of 2021

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“The investigative work of 2021 has all the makings of a made for TV movie – embezzlement of funds from a nonprofit, a family fraud ring that stole millions in COVID-relief funds and a $1 billion Ponzi scheme used to buy...more

Troutman Pepper

Anatomy of a Successful Motion to Dismiss in RICO Case

Troutman Pepper on

Rarely do civil Racketeer Influenced and Corrupt Organization Act (RICO) claims get dismissed at the motion to dismiss stage, and seldom does it happen twice. Troutman Pepper recently represented a lobster business in Maine...more

Morrison & Foerster LLP

Top 10 International Anti-Corruption Developments For July 2021

Designed for busy in-house counsel, compliance professionals, and anti-corruption lawyers, this newsletter summarizes some of the most important international anti-corruption law and case developments from the past month,...more

The Volkov Law Group

1 MDB Corruption Scandal Ripples with Superseding Indictment of Jho Low and Former Rapper “Pras’ Michael for Back-Channel Attempt...

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The scandal emanating from the 1 Malaysia Development Berhad fund (1MDB) continues to ripple through criminal law enforcement and criminal prosecutions. ...more

Robins Kaplan LLP

Financial Daily Dose 1.22.2021 | Top Story: Google Threatens to Pull Search From Down Under Over Proposed Law

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Google has threatened to pull its search engine from the entirety of the Australian continent “if the government approved legislation that would force tech companies to pay for journalism shared on their platforms.” Facebook...more

King & Spalding

Q3 2020: Latin American Enforcement Review

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DOJ Enforcement in Latin America Continues Despite Pandemic - During the 3rd quarter, the Department of Justice made a number of high-profile arrests and concluded plea agreements in several cases related to Latin...more

Ballard Spahr LLP

DOJ Indicts Professor and Drug Trafficking Expert for Laundering Proceeds of Venezuelan Corruption Scheme

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A Textbook Case of Alleged Money Laundering? On November 18, 2019, the U.S. Attorney for the Southern District of New York announced the arrest and unsealed the indictment of Bruce Bagley – a 73-year-old college professor...more

Gray Reed

2018’s Bad Guys in Energy

Gray Reed on

I report herein on 2018’s parade of reprobates, rapscallions and others generally lacking in moral hygiene. We reflect on a mother’s love, corruption in Venezuela, a disloyal employee, stealing from friends, a disgraced...more

WilmerHale

Unexplained Wealth Orders: More Bark Than Bite (So Far)

WilmerHale on

The UK National Crime Agency (“NCA”) has successfully resisted a challenge to the issue of its first Unexplained Wealth Orders (“UWOs”). The victory comes shortly after the agency announced its intention to expand the use of...more

Morrison & Foerster LLP

Development of International Corruption Action Case Ten Major News in July 2018

We will provide a summary and link of primary sources for the most important ones of cases concerning international corruption in July in order to grasp the full picture by busy internal lawyers and compliance experts. Who...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - August 2018

ANTICORRUPTION DEVELOPMENTS - $34 Million SEC Settlement for Legg Mason - On August 27, 2018, the Securities and Exchange Commission (SEC) announced that Legg Mason Inc. will pay more than $34 million to settle an...more

Ballard Spahr LLP

Use of Tainted Assets to Pay Attorney Fees: A Primer on the Pitfalls

Ballard Spahr LLP on

On August 29, the Wall Street Journal reported (paywall) a story that other news outlets later have picked up: the Department of Justice (“DOJ”) is investigating whether Jho Low, a Malaysian businessman at the center of the...more

Ballard Spahr LLP

Update: First Defendant Pleads and Agrees to Cooperate in $1.2 Billion Alleged Venezuelan Laundering Scheme

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As we have blogged, the United States Attorney’s Office for the Southern District of Florida is pursuing charges against eight individuals for allegedly conspiring to launder $1.2 billion embezzled from a Venezuelan...more

Morrison & Foerster LLP

Top Ten International Anti-Corruption Developments for July 2018

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important international anti-corruption developments from the past month, with links to primary...more

Ballard Spahr LLP

8 Charged With Highly Sophisticated $1.2 Billion International Money Laundering Conspiracy

Ballard Spahr LLP on

On July 24, 2018, the United States Attorney’s Office for the Southern District of Florida unsealed a criminal complaint (the “Complaint”) charging eight individuals with conspiracy to commit money laundering under 18 U.S.C....more

Dorsey & Whitney LLP

Dorsey Anti-Corruption Digest - February 2018

Dorsey & Whitney LLP on

Joo Hyun Bahn, real-estate broker and nephew of former U.N. Secretary-General Ban Ki-moon, pleaded guilty to Foreign Corrupt Practices Act (FCPA) charges relating to his role in a scheme attempting to bribe a Qatari official...more

Robinson+Cole Data Privacy + Security Insider

U.S. Treasury Warns Financial Institutions of Venezuelan Corruption and Money Laundering

The Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury issued an advisory on September 20 warning U.S. financial institutions of “money laundering schemes used by corrupt Venezuelan...more

Fenwick & West LLP

Securities Litigation and Enforcement Newsletter

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A CD or not a CD, That is the Question… That the Auditors Should Have Answered - A headline-grabbing SEC enforcement action last week against BDO USA and several of its national partners may lead audit firms to insist on...more

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