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Money Laundering Narcotics

Shipkevich PLLC

Coinbase Agrees To Settlement With New York Regulator

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On January 4, 2023, the New York State Department of Financial Services issued a consent order against Coinbase, a virtual currency company. Pursuant to the consent order, Coinbase will be paying a $50 million penalty to the...more

Ballard Spahr LLP

Money Laundering and “Narco-Cattle Ranching”

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In the rainforests of Guatemala, Honduras and Nicaragua, the fires often start when drug traffickers try to clear large swaths of land. Due to the dry bush and lack of rainfall, the flames often spread out of control, but in...more

Ballard Spahr LLP

FinCEN Announces New “Global Investigations Division” Focused on Foreign Money Laundering Threats

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The Financial Crimes Enforcement Network (FinCEN) issued a press release yesterday, entitled “New FinCEN Division Focuses on Identifying Primary Foreign Money Laundering Threats.”...more

Ballard Spahr LLP

OFAC Targets Alleged Mexican Drug Boss and “His Vast Network,” Including International Soccer Superstar

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Describing him as a “longtime Mexican Drug Kingpin,” the Office of Foreign Assets Control (OFAC) of the U.S. Department of Treasury has designated Raul Flores Hernandez and the “Flores Drug Trafficking Organization,” or ...more

Patterson Belknap Webb & Tyler LLP

In Lengthy Opinion, Second Circuit Affirms “Silk Road” Conviction and Life Sentence

On May 31, 2017, the Second Circuit issued its long-awaited decision in the “Silk Road” case, United States v. Ulbricht, (15-1815-cr) (2nd Cir. May 31, 2017) (Newman, Lynch, Droney). The panel affirmed Ulbricht’s conviction...more

Ballard Spahr LLP

The Philippines Now a “Major Money-Laundering Country”

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The Philippines has been identified by the U.S. as a “major money-laundering country” in the 2017 International Narcotics Control Strategy Report (“Report”), published this month. The country now joins 87 others as one “whose...more

Ballard Spahr LLP

Kingpin Act Wielded Against Vice President of Venezuela

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The Executive Vice President of Venezuela, Tareck Zaidan El Aissami Maddah (El Aissami), was designated on Monday by the U.S. Department of Treasury as a Specially Designated Narcotics Trafficker under the Foreign Narcotics...more

Foley & Lardner LLP

The Supreme Court Preview, Part III: A Couple Spare Parts

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While the Court’s review of bedrock principles of class action litigation and the continuing struggle to enforce arbitration clauses in the face of hostile state law are two important topics to watch, they are not the only...more

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