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☆ The Mrs. defense: powerful men blaming their wives
▼ + stars: | 2024-05-18 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +5 min

“I had no involvement whatsoever in the flying of the flag,” Alito said in a written statement to The New York Times, which first reported the story this week. A Supreme Court justice being unmasked as having a partisan tilt wouldn’t be illegal – just awkward and icky. Shannon Stapleton/ReutersCouples behaving badlyFormer Rep. Duncan Hunter, a California Republican, pioneered the Mrs. defense when he and his wife were both accused of funneling campaign funds for private use. A unanimous US Supreme Court, including Alito, later vacated the governor’s conviction and narrowed the scope by which prosecutors can pursue bribery allegations. The Mrs. defense could conceivably be turned on its head and used by a powerful woman to blame her husband.

Persons: Samuel Alito doesn’t, Joe Biden, Donald Trump, Alito, “, ” Alito, Ann, Alito won’t, Clarence Thomas ’, Ginni, Thomas, Menendez ‘, Sen, Bob Menendez, Nadine, Menendez, Nadine Menendez, Menendez’s, Shannon Stapleton, Duncan Hunter, Margaret, Trump, Henry Cuellar, Imelda, ”, . Cuellar, Jesse Jackson Jr, Sandra, Bob McDonnell, Maureen, Cori Bush, Bush, Kim Taylor, Jeremy Taylor Organizations: CNN, New York Times, House, New, New Jersey Democrat, California Republican, Texas Democrat, Illinois Democrat, Former Virginia Gov, Republican, Missouri Democrat, Supervisors Locations: New Jersey, New York, Manhattan, New York City, California, Texas, Illinois, Missouri, Washington, Iowa, Woodbury County

Representative Henry Cuellar, Democrat of Texas, and his wife were charged with participating in a yearslong $600,000 bribery scheme involving Azerbaijan and a Mexican bank, according to a federal indictment unsealed in Houston on Friday. Mr. Cuellar, 68, and his wife Imelda, 67, are accused of bribery and money laundering in connection with their efforts on behalf of a bank based in Mexico City and an energy company owned by Azerbaijan, according to the 54-page complaint. Mr. Cuellar is also accused of acting as an agent of a foreign entity while serving as a U.S. government official. Payments made from 2014 to 2021 were laundered through “sham consulting contracts,” front companies and shell companies owned by Mrs. Cuellar, who performed “little to no legitimate work” under the contracts, lawyers with the Justice Department’s criminal division wrote.

Persons: Henry Cuellar, Mr, Cuellar, Imelda, . Cuellar Organizations: Justice Locations: Texas, Azerbaijan, Mexican, Houston, Mexico City, U.S

☆ Republicans to grill James Biden behind closed doors in critical interview as GOP looks for lifeline in impeachment probe
▼ + stars: | 2024-02-21 | by ( Annie Grayer | ) edition.cnn.com time to read: +11 min

Hunter Biden is expected to show for his closed-door interview next week, after intense deliberations that almost collapsed. The first check Republicans revealed went to Joe Biden in 2018 for $200,000 from James Biden and James’ wife Sara Biden. What other Biden family business associates have saidBeyond Fox and Langston, Republicans have recently interviewed a number of key Biden family business associates. Walker also attended a 2017 business meeting with Hunter Biden and Chinese business associates, where Joe Biden made an appearance. Another longtime Biden family business associate, Eric Schwerin, performed administrative and bookkeeping tasks for then-Vice President Joe Biden from 2009 to 2017.

Persons: Joe Biden, Hunter, James, Wednesday, Biden, Hunter Biden, Mike Johnson, —, David Weiss, Hunter Biden’s, Alexander Smirnov, Robert Hur’s, Biden’s, James Biden, James ’, Sara Biden, ”, James Comer, Comer, Carol Fox, ‘ Biden, ’, Fox, James Biden’s, Joseph Langston, Langston, “, “ Jimmy Biden, ” Langston, Rob Walker, Walker, Biden —, ” Walker, ‘, ’ ”, Eric Schwerin, ” Schwerin, Mervyn Yan, Kevin Morris, Tony Bobulinski, Georges Bergès, White, Bergès, ” Bergès Organizations: Republicans, GOP, CNN, FBI, Burisma Holdings, undercutting, White, Democratic, Banking, Republican, Biden, Kentucky Republican, Fox, Langston, “, White House Locations: South Korea, Washington ,, China, Kentucky, Americore, Romania, American

☆ Do you need to rinse your chicken before you cook it?
▼ + stars: | 2024-02-13 | by ( Casey Barber | ) edition.cnn.com time to read: +6 min

CNN —Despite what your elders may have told you, you don’t need to rinse raw chicken or any other poultry or meat before prepping and cooking it. When rinsing chicken, bacteria such as salmonella can be transferred via the water to your kitchen surfaces, leading to potential cross contamination of other ingredients. Bacteria was found in the sinks of 60% of cooks who rinsed raw chicken as part of a 2019 USDA study. “Use paper towels, even more than you think you need,” Matijevich said, and pat the chicken dry or let the paper towels soak up the excess liquid. If they are used to clean up raw poultry juice, they should also go in the dishwasher on the sanitize cycle,” Schaffner said.

Persons: ”, Shawn Matijevich, ” Matijevich, Donald Schaffner, Sarah McEwan, iStockphoto, ” Schaffner, Casey Barber Organizations: CNN, US Department of Agriculture, Institute of Culinary Education, Rutgers University Locations: USDA, New York City, New Jersey

☆ Bitcoin money launderer Ian Freeman ordered to pay $3.5 million to romance scam victims
▼ + stars: | 2024-02-13 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

Ian Freeman outside of the federal courthouse in Concord, New Hampshire, in April 2023. Prosecutors said that he laundered proceeds of scams by exchanging dollars for the popular cryptocurrency, charging "exorbitant fees" in the process. Freeman earned more than $1 million through his business, which he had not registered as legally required with the Financial Crimes Enforcement Network, prosecutors said. "Freeman instructed bitcoin customers, who were often victims of scams, to lie to the financial institutions and describe their deposits as church donations. From 2016 to 2019, he paid no taxes, and concealed his income from the Internal Revenue Service," the office said.

Persons: Ian Freeman, Freeman, laundered, Ian, Jane Young, Joseph Laplante Organizations: cryptocurrency, U.S ., Prosecutors, Financial, Network, New Hampshire U.S, U.S, District, Shire Free Church, of, Internal Revenue Service Locations: Concord , New Hampshire, New Hampshire, U.S, Shire, of New Hampshire

Guidepost didn't immediately respond to an email asking whether Morris & Dickson remains a client. Neither the DEA or Morris & Dickson immediately responded to a request for comment. While Morris & Dickson has managed to stay open, several of the pharmacies it supplied have closed, had their licenses revoked by the DEA or have been criminally prosecuted. Yet Morris & Dickson never suspended any shipments to the pharmacy. Over three years, it filed just three suspicious order reports to the DEA – none of which resulted in shipments being suspended.

Persons: Anne Milgram, Morris, Charles Dorman, Milgram's, Louis Milione, Milione, Morris & Dickson, Guidepost didn't, Dickson, ”, Katherine Pfaff, Judge Dorman, Wilkinson, Keith Wilkinson laundered, ___ Goodman Organizations: U.S . Drug, Morris, Dickson Co, Associated Press, AP, DEA, Morris & Dickson, Purdue Pharma, Guidepost Solutions, Morris &, Wilkinson Family Locations: Shreveport, La, New York, Morris, New Orleans, Miami, Mustian, Investigative@ap.org

REUTERS/Kacper Pempel/Illustration/File Photo Acquire Licensing RightsWASHINGTON, Nov 29 (Reuters) - A cyber extortion gang suspected of being an offshoot of the notorious Russian Conti group of hackers has raked in more than $100 million since it emerged last year, researchers said in a report published on Wednesday. An attempt to reach Black Basta via its darkweb site was not immediately successful. Elliptic cofounder Tom Robinson said the massive haul made Black Basta "one of the most profitable ransomware strains of all time." "Conti was perhaps the most successful ransomware gang we've seen," Robinson said. The latest findings suggest "some of the individuals responsible are replicating its success with the Black Basta ransomware."

Persons: Kacper, Russian Conti, Tom Robinson, Robinson, Conti, Black Basta, we've, Basta, Raphael Satter, James Pearson, Gerry Doyle Organizations: REUTERS, Rights, Insurance, U.S . Treasury, Thomson Locations: Russian, bitcoin, Black, Russia, Ukraine, London

☆ What US charges does crypto exchange Binance face?
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +4 min

Cryptocurrency exchange Binance founder and CEO Changpeng Zhao speaks at a Binance fifth anniversary event in Paris, France, July 8, 2022. The agreement will resolve criminal charges that Binance conducted an unlicensed money transmitter business, conspiracy and breaching sanctions regulations, the U.S. Department of Justice said. UNLICENSED MONEY SERVICE BUSINESSThe U.S. said that Binance, Zhao and other executives "knowingly and willfully conspired" to operate as an unlicensed money services business (MSB) from August 2017 until October 2022. MONEY LAUNDERING CHECKSThe U.S. said that Binance facilitated "billions of dollars" of crypto transactions for its customers, including in the United States, without implementing so-called "know your customer" checks. From around January 2018 to May 2022, Binance processed 1.1 million crypto transactions worth at least $898.6 million between U.S. customers and those who lived in Iran, the U.S. said.

Persons: Changpeng Zhao, ZHAO, Tom Wilson, Binance, Zhao, laundered, Crypto, Elizabeth Howcroft, Lisa Shumaker Organizations: ZHAO REUTERS, U.S . Department of Justice, Reuters, Binance, U.S, Treasury's, Palestinian, Hamas, Islamic, Palestine Islamic, Thomson Locations: Paris, France, U.S, United States, Russian, Iran, Islamic State, al Qaeda, Palestine, London

Binance is also expected to expected to plead guilty to the charges. Zhao, the founder and CEO of Binance, has amassed a fortune that Bloomberg pegs at more than $23 billion. This alleged misconduct paved the way for Binance to become king of the crypto exchanges, prosecutors allege. Prosecutors allege Binance, “knowingly failed” to register as a money service business, willfully violated the Bank Secrecy Act by failing to implement and maintain an effective anti-money laundering program and willfully caused violations of US economic sanctions. The SEC also alleged that Zhao and Binance commingled customer assets and even diverted some to an entity controlled by Zhao.

Persons: Changpeng Zhao, Binance, Zhao, General Merrick Garland, Janet Yellen, laundered, “, ” Binance Organizations: New, New York CNN —, CNN, Bloomberg, Wall Street, Treasury, Prosecutors, Court, Western, of, ” Prosecutors, Binance, The Securities, Exchange Commission, SEC, Commodity Futures Trading Commission Locations: New York, of Washington, Canadian, United States, America

☆ Italy arrests six in crackdown on fentanyl smuggling from China to U.S.
▼ + stars: | 2023-11-15 | by ( Emilio Parodi | ) www.reuters.com time to read: +3 min

[1/2] An undated handout picture released by Guardia di Finanza shows banknotes that were seized as a part of an operation against fentanyl trafficking from China to U.S., in Piacenza, Italy. Guardia di Finanza Press Office/Handout via REUTERS Acquire Licensing RightsMILAN, Nov 15 (Reuters) - Italian police have arrested six people in a crackdown on a network that allegedly played go-between for fentanyl trafficking from China to the United States, Guardia di Finanza police and prosecutors in the northern city of Piacenza said on Wednesday. Washington is hoping to secure more cooperation from Beijing in combating production of the potent synthetic opioid fentanyl, a scourge in the United States, when President Joe Biden meets Chinese President Xi Jinping on Wednesday. Among those arrested in Italy is the alleged head of the network, a 51-year-old Italian man suspected of buying fentanyl from China over the past three years. He sold it on to buyers in the United States, and in one case in Mexico, the chief prosecutor said.

Persons: Grazia Pradella, Joe Biden, Xi Jinping, Emilio Parodi, Keith Weir Organizations: Guardia, Finanza, REUTERS Acquire, U.S . Drug Enforcement Administration, Reuters, U.S, U.S . Centers for Disease Control, Prevention, Police, Thomson Locations: China, U.S, Piacenza, Italy, United States, Guardia, Washington, Beijing, Mexico, Rome, Ukrainian, Switzerland, Eastern Europe, bitcoin

☆ Two South Koreans accused of running US ‘high-end’ brothel ring to appear in court Monday
▼ + stars: | 2023-11-13 | by ( Holmes Lybrand | ) edition.cnn.com time to read: +6 min

He is accused of running part of the financial side of the brothels – renting out apartments in his or fake identities and operating numerous businesses to allegedly launder money through. The website advertised “models” – pictured on the sites in underwear in provocative poses – for photographers to hire, the affidavit says. Junmyung, investigators say, was born in Korea and is in the US on a student visa, which started in 2018. The confidential source, working with investigators, contacted James to set up a brothel in Connecticut, the affidavit says. He also mentioned during the call that he worked with a “Hana in Boston,” according to the affidavit.

Persons: Han Lee, Junmyung Lee, James Lee, Zachary Mitlitsky, Han, Junmyung, James, –, James laundered, Massachusetts Joshua Levy, ” Levy Organizations: CNN, Homeland Security, TSA, Hana Locations: Boston, Washington, Worchester , Massachusetts, California, Las Vegas and Virginia, Eastern Virginia, Virginia, Cambridge , Massachusetts, Korea, Tysons , Virginia, Connecticut, Massachusetts

The fallout has extended to Washington, where Republicans are hunting for evidence that could be used to impeach President Joe Biden. Republicans have highlighted a $200,000 personal check from Jim to Joe Biden on the same day — March 1, 2018 — that Jim Biden received an equal amount from Americore. Concerns that Jim Biden’s business ventures and missteps would cloud Joe Biden’s political career stretch back decades. Court records show the matter was dropped, and Jim Biden's representatives said the bill was paid. But he’s also angry at Jim Biden's brother.

Persons: ELLWOOD, Jim Biden, Joe Biden, Jim Biden wasn’t, Americore, It’s, Joe Biden’s, Hunter, Biden, Jim, ”, Paul Fishman, “, Ian Sams, Republicans won’t, ” Jim Biden, James Comer, he’s, ” Comer, Jim Biden's, Sara, Joe, Jill, Jim Biden’s, Barack Obama’s, Narendra Modi, Valerie, Frank, Beau, Beau Biden, ” Hunter, Uncle Jim, Hollywood Roosevelt, ‘, Let’s, ’ ”, Hurricane Irma, Tom Pritchard, Pritchard, ” Pritchard, Obama, Jim Biden “, ” Fishman, Michael Lewitt, Lewitt, Fishman, Biden’s, Grant White, ” White, Donald Trump, Scott Paglia, Paglia, ___ Suderman, Rhonda Shafner Organizations: ELLWOOD CITY, Health, House Republicans, Republicans, ., Democrats, Americore, Rep, Kentucky Republican, franchise, Senate, Delaware News, Oval, White, Indian, University of Delaware, Internal Revenue Service, CEFC China Energy . Records, American Express, U.S . Department of Veteran Affairs, Platinum Global Partners, Securities and Exchange Commission, Wall, Democratic, Associated Press Locations: Pa, Florida, Ellwood City, Pennsylvania, Washington, “, China, Philadelphia, Delaware, Mississippi, California, Los Angeles, Qatar, Saudi Arabia, South Florida, Delray Beach , Florida, Richmond , Virginia, New York

☆ Donald Trump Jr. asked courtroom artist to make him 'look sexy' like an illustration of Sam Bankman-Fried
▼ + stars: | 2023-11-02 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +3 min

"Make me look sexy," Donald Trump Jr. told a courtroom illustrator after he finished testifying Thursday. The ex-president's son pointed out an image of Sam Bankman-Fried as inspiration. "He said, 'Make me look sexy,'" illustrator Jane Rosenberg told Insider. Eric Trump and Donald Trump Jr., both executives at the company, are co-defendants and testified this week. On the witness stand, Trump Jr. said he had no involvement in preparing documents about the Trump Organization's finances, even though he signed off on them.

Persons: Donald Trump Jr, Sam Bankman, Jane Rosenberg, —, Donald Trump, Rosenberg —, who's, Tom Brady, Harvey Weinstein —, Trump, Rosenberg, Sam Bankman Fried, 8l7Nn0zCN2 — Tom Breen, @TJBreen, Kimberly Guilfoyle, Letitia James, Eric Trump, Fried, Lewis Kaplan, Kaplan Organizations: Service, Trump Organization, Trump Jr, Reuters, New York, Trump, Alameda Research Locations: New York, Manhattan, Alameda

☆ Judge blasts Sam Bankman-Fried for 'interesting' answers on the witness stand to questions about using FTX customer funds
▼ + stars: | 2023-10-26 | by ( Katie Balevic | Jacob Shamsian | ) www.businessinsider.com time to read: +7 min

AdvertisementAdvertisement"Part of the problem is that the witness has what I'll simply call an interesting way of responding to questions," Kaplan said during the hearing. AdvertisementAdvertisementWhen Sassoon asked Bankman-Fried directly if he discussed spending FTX customer deposits with his lawyers, he took a long pause and looked down before he answered the question. Sassoon, questioning Bankman-Fried on the witness stand, asked Bankman-Fried to be more explicit about why he thought that explanation was acceptable. Asked directly by Sassoon if it was OK to steal customer funds, Bankman-Fried rejected that interpretation of events. Sassoon made that clear on Thursday as Kaplan asked for a broad timeline of the rest of the trial.

Persons: Sam Bankman, Fried, —, Lewis Kaplan, Kaplan, Mark Cohen, Danielle Sassoon, Sassoon, Bankman, Chelsea Jia Feng, I'm, Cohen, grumbled, Barbara Fried, " Cohen Organizations: Service, Alameda Research Locations: Manhattan, FTX, Alameda

☆ Insurance companies have discovered devious new ways to rip you off
▼ + stars: | 2023-10-23 | by ( Jathan Sadowski | ) www.businessinsider.com time to read: +16 min

Unfortunately, as premiums for everything from home insurance to car insurance skyrocket, more of us are being forced to dwell on the opaque and convoluted insurance industry. AdvertisementAdvertisementTo determine that magic price tag, insurance companies drill down into the nitty-gritty details of your life. I'll go even further: To boost their own profits, insurance companies are becoming increasingly antisocial and antagonistic. To boost their own profits, insurance companies are becoming increasingly anti-social and antagonistic. The stuff of insurance is far too important to be left to the insurance industry.

Persons: Søren Holm, Duncan Minty, Kengo Sakurada, you've, Colm Holmes, —, Holmes, Inga Beale, Beale, ProPublica, Cigna Organizations: Consumers, Caliber, Insurance, Sompo Holdings, Aviva, Allianz Holdings —, of Actuaries, State Farm, Farm, New York Times, of Information Technology, Monash University Locations: London, State

They’re opportunistic and adaptive,” said former CIA analyst Yaya Fanusie, now an adjunct senior fellow with the Center for a New American Security. It’s unclear how much money Hamas has received in cryptocurrency, but there’s evidence they have amassed significant amounts. Another $94 million was allegedly held by the Palestinian Islamic Jihad, a militant partner of Hamas, according to Elliptic, another analytics firm. Hamas additionally raises funds through informal taxes and smuggling, according to a Congressional Research Service report from May. Investigators were able to seize 150 cryptocurrency accounts “that laundered funds to and from” Hamas accounts, according to a DOJ news release.

Persons: launderers, European Union –, “ There’s, ”, Yaya Fanusie, –, Dmitry Machikhin, Arda Akartuna, Akartuna, Jake Sullivan, Iran “, Sullivan, Asher Perlin, Yitzchak Weinstock, Weinstock, “, al, Perlin Organizations: CNN, Hamas, Justice, Justice Department, European Union, Center, New, New American Security, Department of Homeland Security, ’, Reuters, Wall Street, Brigades, Palestine Islamic, US State Department, US Treasury Department, Islamic Revolutionary Guard Corps, Treasury, US Treasury, White, National, Congressional Research Service, US Justice Department, ”, Investigators, DOJ Locations: Iran, cryptocurrency, Israel, Washington ,, United States, New American, New Jersey, bitcoin, Jihad, Palestine, Turkey, Lebanon, Lebanese, Syria, Tehran, Jerusalem

☆ 4 ways you're doing your laundry all wrong that are harming the environment
▼ + stars: | 2023-09-18 | by ( Maiya Focht | ) www.businessinsider.com time to read: +2 min

Many clothes contain synthetic fabrics that release plastic into the water when laundered. How you do your laundry may be increasing your plastic output, which can harm marine life. Some ways to avoid this include using cold water and washing your clothes less often. That's right, the simple act of washing synthetic fabrics, like polyester, acrylic, and nylon releases microplastics. AdvertisementAdvertisementLuckily, there are things you can do in the immediate to reduce how much microplastics you may be sending into the environment.

Persons: Sonali Diddi, Diddi, we'll Organizations: Service, Colorado State University Locations: Wall, Silicon

☆ Screw it, I solved the student debt forgiveness debate
▼ + stars: | 2023-09-05 | by ( Walt Hickey | ) www.businessinsider.com time to read: +8 min

The government should reduce the interest rate on federal student loans, and forgive any that's accrued. Half of Americans support forgiving up to $20,000 in federal student loan debt, a figure that soars to 83% among those who have student loans. Forgiving all student loan debt still maintains 39% support, a remarkably high figure for a fiscal policy that even a decade ago would have been an utter non-starter politically. Americans owe just south of $1.6 trillion in student loan debt. As a result, an equitable solution is this: retroactively adjust the interest rate on federal student loans to be at or near zero.

Persons: that's, Uncle Sam, Luke O'Neill, hasn't, Jesus Christ, you've, vig, RANDI LYNN BEACH, They'll Organizations: Service Locations: Wall, Silicon, United States

☆ Ukraine names powerful businessman Kolomoisky suspect in fraud probe - SBU
▼ + stars: | 2023-09-02 | by ( ) www.reuters.com time to read: +2 min

[1/3] Ukrainian business tycoon and one of Ukraine's most prominent billionaires Ihor Kolomoisky speaks with Security Service of Ukraine (SBU) and Prosecutor General's Office officers at an unknown location, in this picture released on September 2, 2023. Security Service of Ukraine/Handout via REUTERS Acquire Licensing RightsKYIV, Sept 2 (Reuters) - Ukrainian state security officials named powerful businessman Ihor Kolomoisky as a suspect in a fraud and money laundering case, the SBU security service said on Saturday. The security service published pictures of a group of detectives at the door of his home, with Kolomoisky receiving and signing documents. The United States sanctioned Kolomoisky in 2021 "due to his involvement in significant corruption". U.S. authorities have also alleged Kolomoiskiy and a business partner laundered stolen funds through the United States.

Persons: Ihor Kolomoisky, Volodymyr Zelenskiy, Kolomoisky, laundered, Kolomoiskiy, Olena, Tomasz Janowski Organizations: Service of Ukraine, General's, Security Service, REUTERS Acquire, Rights, Russia's, United, Thomson Locations: Ukraine, Handout, United States

[1/3] Ukrainian business tycoon and one of Ukraine's most prominent billionaires Ihor Kolomoisky speaks with Security Service of Ukraine (SBU) and Prosecutor General's Office officers at an unknown location, in this picture released on September 2, 2023. Security Service of Ukraine/Handout via REUTERS Acquire Licensing RightsKYIV, Sept 2 (Reuters) - Ukraine's main security agency accused tycoon Ihor Kolomoisky of fraud and money laundering on Saturday, naming one of the country's most prominent businessmen a suspect in a criminal investigation. "It was established that during 2013-2020, Ihor Kolomoisky legalized more than half a billion hryvnias ($14 million) by withdrawing them abroad and using the infrastructure of banks under (his) control," the Security Service of Ukraine (SBU) said in a statement. CRACKDOWN ON CORRUPTIONDuring the war, Zelenskiy has been keen to stress Ukraine's crackdown on corruption as Kyiv has applied to join the European Union. U.S. authorities have also alleged Kolomoisky and a business partner laundered stolen funds through the United States.

Persons: Ihor Kolomoisky, Ihor, Volodymyr Zelenskiy, Kolomoisky, Zelenskiy, Yaroslav Zheleznyak, Iryna Gerashchenko, laundered, Olena, Tomasz Janowski, Frances Kerry Organizations: Service of Ukraine, General's, Security Service, REUTERS Acquire, Rights, Kolomoisky, Security Service of Ukraine, European Union, Thomson Locations: Ukraine, Handout, Kyiv, Soviet Union, United States

☆ Tornado Cash founders charged with laundering more than $1 billion, including millions for North Korea
▼ + stars: | 2023-08-23 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +4 min

Two founders of Tornado Cash, the widely known Russian cryptocurrency mixer, have been charged with laundering more than $1 billion in criminal proceeds. Charges in the indictment include conspiring to commit money laundering, conspiracy to commit sanctions violations and conspiracy to operate an unlicensed money transmitting business. The third co-founder, Alexey Pertsev, who is not mentioned in this action, faces trial in Amsterdam over his involvement with Tornado Cash. Tornado Cash is used by some people as a legitimate way to protect their privacy in the still-nascent crypto market. Using a crypto mixing service like Tornado Cash masks those details by anonymizing the funds and concealing the identity of the buyer.

Persons: Roman, Semenov, Storm, James Smith, Alexey Pertsev, Roman Semenov, Damian Williams, Brian Klein, Waymaker, Klein, Lazarus Organizations: Tornado, Lazarus, Justice Department, CNBC, Tornado Cash, Storm, Federal Bureau of Investigation, Foreign Assets, Lazarus Group, U.S . Treasury, Treasury Department Locations: Russian, Korean, Washington, York, Amsterdam, U.S, Harmony

☆ Tornado Cash cryptocurrency co-founders Roman Storm and Semonov indicted for laundering for Lazarus Group
▼ + stars: | 2023-08-23 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

Roman Semenov, the Russian national, and Roman Storm, were charged with laundering and violating sanctions through Tornado Cash, a crypto “mixer” that allegedly laundered more than $1 billion, including hundreds of millions that went to Lazarus Group, a North Korean cybercrime organization, the indictment alleged. The third co-founder of Tornado Cash, who was unnamed in the indictment, was arrested on money laundering charges in the Netherlands last year, the Treasury said. Tornado Cash is one of the most well-known mixers, and it, along with much of the crypto industry, was under growing regulatory scrutiny. Lazarus Group, the North Korean organization, allegedly used Tornado Cash in April and May 2022, the US attorney’s office said, in violation of US sanctions. The US Department of the Treasury sanctioned Tornado Cash last year, alleging it laundered more than $7 billion worth of crypto since 2019.

Persons: Roman Semenov, “, Damian Williams, Semenov, Storm, Tornado Cash, ”, Brian Klein, “ Mr, ” Klein, Lazarus Organizations: New, New York CNN, Russian, North, Court, Tornado, Lazarus Group, Storm, US, Office, Treasury, DOJ, US Treasury, Korean, US Department of Locations: New York, Washington, Southern, Russian, Roman, Korean, Netherlands

☆ Over 3,100 Charged With Pandemic Relief Fraud, Justice Department Says
▼ + stars: | 2023-08-23 | by ( Madeleine Ngo | ) www.nytimes.com time to read: +2 min

The sweep resulted in criminal charges against 371 defendants, with 119 convicted or pleading guilty. The Justice Department claimed 63 defendants had connections to violent crime and 25 had purported connections to transnational crime networks. The Justice Department listed a range of fraud schemes, including defendants who allegedly used the money to solicit a murder and individuals who laundered funds by shipping cars to Nigeria. The funds were allegedly used to solicit a murder for hire and to purchase firearms, controlled substances, jewelry, clothing and vacations. Some defendants were also accused of transferring firearms knowing they would be used to commit violent crimes or traffic drugs.

Persons: ”, General Merrick B, Garland, “, Department’s, — Organizations: Justice Department, Department Locations: Nigeria, Milwaukee

☆ How Mexican narcos use remittances to wire U.S. drug profits home
▼ + stars: | 2023-08-18 | by ( Reuters Graphic | ) www.reuters.com time to read: +28 min

Now the news agency is the first to detail how Mexican drug gangs have harnessed legitimate remittance networks to repatriate their U.S. drug profits, and the factors that make this activity so difficult for authorities to detect and thwart. But authorities say Mexican drug cartels are piggybacking on this legal network to repatriate earnings from U.S. narcotics sales. A Reuters search of Mexican court records dating back to 2012 turned up no cases involving money laundering through remittances. Still, prosecutors in those cases mentioned several of those firms in court documents because they said the defendants had used their platforms to wire drug money. His office did not respond to requests for comment about law enforcement allegations that Mexican cartels are using remittances to launder drug money.

Persons: Money, ”, “, Andrés Manuel López Obrador, ” Jorge Godínez, ” Godínez, John Cornyn of, Chuck Grassley, ” Grassley, pocketing, John Horn, remitters ”, Horn, – Oscar Gustavo Perez, Bernal, Itzayana Guadalupe Perez, Susan Fiorella Ayala, Chavez –, Los, –, Jose Luis Rosales, Ocampo, Josue Gama, Perez, Thania Rosales, Dulce Rosales, – Ana Lilia Leal, Martinez, Ana Paola Banda, Maria de Lourdes Carbajal, Henri Watson, Carbajal, Sigue, Sangita Bricker, Transfast –, ” Sigue, Transfast, fanny, Juan de Dios Gámez, Rubén Rocha, BanCoppel, Banorte, hadn’t, El, López Obrador, ” López Obrador, Signos, Signos Vitales, Oquitoa, Enrique Cardenas, Tim Walz, Keith Ellison Organizations: Sinaloa Cartel, Reuters, Jalisco New, Mexican, WorldRemit, ., National Intelligence, narcos, U.S, Republican U.S, Treasury, U.S . Department of, U.S ., Financial Intelligence Unit, “, Federal Bureau of Prisons, Los Rosales, Kansas City, ”, Leal, IDT Corporation, IDT, Mastercard, Express Cellular, Prosecutors, IRS, Western Union, U.S . Department of Justice, Federal Trade Commission, ‘, Banco Azteca, Elektra, World Bank, Minnesota, Caborca Locations: CULIACÁN, Mexico, Mexican, Culiacán, Sinaloa, United States, Jalisco, U.S, Colorado, Union, Americas, London, John Cornyn of Texas, Iowa, Ohio, Colorado , Georgia , Ohio , Oklahoma , Texas, Virginia, Washington, Georgia, Atlanta, Columbus, Rosales, Nayarit, Michoacan, Missouri, Texas, Florida, New Jersey, Miami, , New Jersey, Ria, Kansas, California, New York, Western, Sinaloan, Costa Rica, BanCoppel, India, China, Mexico City, Minnesota, Arizona , Colorado , Florida , Illinois, New Mexico, Nevada, Oquitoa, Sonora

The long-awaited rule is expected to require that real estate professionals such as title insurers report the identities of the beneficial owners of companies buying real estate in cash to the Treasury's Financial Crimes Enforcement Network (FinCEN). Criminals have for decades anonymously hidden ill-gotten gains in real estate, Treasury Secretary Janet Yellen said in March, adding that as much as $2.3 billion was laundered through U.S. real estate between 2015 and 2020. That debate has slowed down FinCEN's work on the real estate reporting rule, one of the sources said. PATCHWORKWhile banks have long been required to understand the source of customer funds and report suspicious transactions, no such rules exist nationwide for the real estate industry. FinCEN implemented GTOs in 2016 after the New York Times revealed that nearly half of luxury real estate was bought by anonymous shell companies.

Persons: Janet Yellen, Erica Hanichak, FinCEN, Jodi Vittori, Guo Wengui, Guo, Donald Trump, Steve Bannon, Howard, David Szakonyi, Luc Cohen, Chris Prentice, Amy Stevens, Michelle Price, Matthew Lewis Organizations: U.S . Treasury Department, FACT Coalition, Association, New York Times, Carnegie Endowment, International Peace, Nardello, Government, Office, George Washington University, New, Thomson Locations: New York, Miami, Los Angeles, Chinese, Jersey, Manhattan

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