Commentary One has to appreciate Sam Bankman-Fried’s honesty of late. After running a presumed $32 billion company to zero in a matter of days, he took to Twitter to reveal what many of us already knew. He said that woke is a racket. “In the future, I’m going to care less about the dumb, contentless,…
FTX, the Democrats’ Money Laundering Operation
Commentary Crypto crashes and crypto-exchange schemes come and go. I had assumed that the Mt. Gox disaster of 2014 would be the last, teaching investors to keep their own custody and watch the exchanges (the on and off ramps to the ecosystem) very carefully. Keep your funds in your possession, the old guard has been…
Sinaloa Cartel Money Launderer Sentenced to Over 15 Years in Prison
SAN DIEGO—A former attorney who laundered drug money for the notorious Sinaloa Cartel was sentenced in San Diego federal court Oct. 7 to more than 15 years in prison. Prosecutors say Juan Manuel Alvarez-Inzunza, 41, coordinated the movement of millions of dollars in drug proceeds. Some of the money was used to fund cocaine shipments…
3 Men Charged in $100 Million New Jersey Deli Fraud Scheme
U.S. authorities on Monday filed civil and criminal charges against three men for allegedly orchestrating a large-scale market manipulation scheme that briefly pushed the valuation of a New Jersey deli to more than $100 million. Prosecutors charged the men—Peter Coker Sr., 80, Peter Coker Jr., 53, both of North Carolina, and James Patten, 63, of…
Capitol Report (Sept. 8): DC Mayor Declares State of Emergency; Washington Mourns Death of Queen Elizabeth II
September 8, 2022
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Afghanistan withdrawalafghansCapitol ReportChinaChinese Communist Partycounter punchDepartment of Homeland SecurityEpochTVfascismfraud chargesHouse GOPmoney launderingnational security riskNew YorkQueen Elizabeth IIRalph NormanSteve BannonTrevor LoudonUSUS News
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Queen Elizabeth II died Thursday, sending shock waves through the UK and the world. Her oldest son has taken the throne. The House GOP is vowing to change Washington’s approach to China. What do Republicans say about taking back the majority and countering the Chinese Communist Party (CCP)? To assess how a Republican-led Congress would…
‘Money Mules’: Foreign Students Tied to Money Laundering in Canada, Says FINTRAC Report
Some international students are implicated in money laundering activities for organized criminal networks operating in Canada, according to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), which named students from China and Hong Kong. According to a May 2022 report from FINTRAC, underground banking—informal value transfer systems (IVTS) that help parties in different jurisdictions…
Dutch Detain Suspected Developer of Crypto Mixer Tornado Cash
August 15, 2022
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AMSTERDAM—Dutch authorities on Friday said they had arrested a 29-year-old man believed to be a developer for the crypto mixing service Tornado Cash, which the United States put on its sanctions list this week. The U.S. sanctions announced on Monday followed allegations that Tornado Cash was helping conceal billions in capital flows, including for North…
California Man Pleads Guilty to Running Fraudulent Competing PACs, Stealing $3.5 Million
A California man pleaded guilty on Aug. 8 to conspiracy to solicit millions of dollars by running two fraudulent political action committees (PACs), according to a press release by the U.S. Department of Justice. Robert Reyes Jr., along with others, ran the Liberty Action Group PAC and the Progressive Priorities PAC. The former supported former…
Boston Grand Jury Charges 8 Chinese People With Money Laundering
A federal grand jury in Boston has charged eight Chinese people for their alleged roles in an elaborate money laundering scheme that involved the proceeds from tens of millions of dollars’ worth of smuggled drugs. According to the affidavit (pdf), the defendants used seemingly lawful businesses to launder drug proceeds, and used stolen or fraudulent…
Florida Man Arrested for Distributing $230 Million Worth of Adulterated HIV Medication
June 21, 2022
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Lazaro Hernandez, 51, of Miami, was arrested on June 17 for allegedly distributing millions of dollars worth of adulterated drugs for human immunodeficiency virus (HIV) that were eventually distributed to patients throughout the United States. Hernandez and co-conspirators established licensed wholesale drug distribution companies in New York, Florida, Connecticut, and New Jersey to distribute “adulterated and…
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