For the first time since it began just over a year ago, the ongoing inquiry into money laundering in British Columbia is adding former and current cabinet ministers to its witness list—11 in all. Among current NDP ministers scheduled to testify are Attorney General David Eby, assistant deputy minister responsible for B.C. gambling Sam MacLeod,…
Former, Current BC Cabinet Ministers to Testify at Money Laundering Inquiry
NatWest Money Laundering Case Linked to Second Criminal Trial, Prosecutors Say
LONDON—Criminal money laundering charges against British state-backed bank NatWest are linked to a separate case against 13 individuals based in cities across the country, prosecutors have told Reuters. Britain’s financial regulator, the UK Financial Conduct Authority (FCA), started a criminal action against NatWest on Tuesday, making it the first bank to be charged under a…
Britain’s NatWest Bank Faces Money Laundering Charges
LONDON—Britain’s financial regulator has started a criminal action against NatWest over allegations it failed to detect suspicious activity by a customer depositing nearly £400 million ($553 million) over five years, mostly in cash. The action is the first such case against a British bank under a 2007 money laundering law. If convicted, the bank faces…
Money Laundering Suspect Has Connections in BC, Las Vegas, and Macau Casinos, Cullen Commission Hears
The British Columbia money laundering inquiry heard testimony about how drug traffickers and loan sharks have moved money between Vancouver, Latin America, and Asia through underground Chinese banks. The Cullen Commission heard this Monday about the Royal Canadian Mounted Police’s (RCMP) “E-Pirate investigation” into drug trafficking and money laundering activities in BC Lottery Corporation casinos involving a…
Victoria Calls for Royal Commission into Melbourne Crown Casino
Beleaguered gaming group Crown Resorts will be tested again by a new royal commission which will look into its Melbourne casino. The inquiry follows the royal commission in New South Wales (NSW) that reported Crown not suitable to hold a casino license due to financial crimes. The NSW Independent Liquor and Gaming Authority (ILGA) uncovered…
Luxembourg Fund Industry Is a $5.4 Trillion ‘Black Box,’ Investigation Says
LONDON—Luxembourg’s investment fund industry is a financial “black box” that helps people launder illicit money and avoid tax, according to an investigation published on Monday whose findings were rejected by the EU nation. The OpenLux investigation by journalists from a group of media organizations, including Le Monde, Le Soir, the Miami Herald, and Sueddeutsche Zeitung,…
NY Money Manager Charged in $1.8 Billion Ponzi-Like Fraud
NEW YORK—The founder of a New York money manager and two associates were criminally charged on Thursday with running a $1.8 billion Ponzi-like fraud where thousands of victims were falsely promised steady returns on their investments. David Gentile, the chief executive of GPB Capital Holdings LLC, was accused of cheating more than 17,000 retail investors…
Newly Appointed DOJ Official Was Partner of Hunter Biden’s Attorney
Nicholas McQuaid, the principal deputy assistant attorney general of the United States, was a fellow partner of the attorney that Hunter Biden hired to represent him in the upcoming probe for possible tax and money laundering activities by DOJ. Nicholas McQuaid was appointed on Jan. 21, the day after President Joe Biden was sworn in….
Infiltration, Money Laundering: The Worrisome Allegations From the Ortis Case
With new developments coming to light in the case of former senior RCMP intelligence official Cameron Ortis, an expert on money laundering says efforts to infiltrate various organizations in both the public and private sectors is a common practice among professional money laundering operators. “They’re always looking for ways to infiltrate government services, such as…
China Insider: Defense Bill Orders U.S. Treasury to Probe Chinese Money Laundering
January 19, 2021
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2021bankcashChinaChina Business & EconomyChina InsiderChina SocietyChinese Regimecrimeeconomyfaking trade invoicefinancefinancialgamblingGraham Barrowlegal personmoney launderingNational Defense Authorization ActNDAANews VideosPolicyreal estateshadow companiessmugglingU.S. treasury departmentunderground bankUSVideovideo specialVoice of America
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2021bankcashChinaChina Business & EconomyChina InsiderChina SocietyChinese RegimecrimeEconomyfaking trade invoicefinancefinancialgamblingGraham Barrowlegal personmoney launderingNational Defense Authorization ActNDAANews VideosPolicyreal estateshadow companiessmugglingU.S. treasury departmentunderground bankUSVideovideo specialVoice of America
The U.S. Treasury Department will investigate the risks posed by China’s money laundering and develop a strategy to defend against it, as required by the National Defense Authorization Act of 2021.
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