Category: Prosecutions

American Express Fined $350m Over AML Failures

Money Laundering, Prosecutions
US banking regulators have fined American Express National Bank $350 million over weaknesses in its anti-money laundering controls. The Office of the Comptroller of the Currency (OCC) imposed the civil money penalty alongside a cease-and-desist order, while the Federal Reserve issued a separate order against the bank’s parent companies. According to the OCC, the bank’s Bank Secrecy Act and AML programme suffered from inadequate resources, staff lacking expertise, internal control gaps, weak independent testing and poor training. Its risk assessment concentrated on its relatively small deposit business rather than its much larger credit and charge card operations. The regulator said…

Bank of America Fined $1.21bn Over AML Failures

Money Laundering, Prosecutions
US authorities have imposed more than $1.21 billion in penalties on Bank of America over failures in its anti-money laundering controls and apparent sanctions breaches. The Treasury described the FinCEN penalty as the third largest in its history. FinCEN found the bank failed to report more than $5 billion in suspicious transactions, over $1 billion of which involved priority risks such as Chinese money laundering networks and activity along the US southwestern border. The bank admitted wilfully violating the Bank Secrecy Act, including failing to maintain an adequate AML programme and to carry out due diligence on correspondent accounts for…

Finnish Court Jails Businessman Over Exports to Russia

Prosecutions, Sanctions
A Finnish court sentenced the chief executive of a transport company to three years and eight months in prison for exporting trucks and trailers to Russia in violation of EU sanctions, the Finnish public service broadcaster, Yle, reported Wednesday. The South Karelia District Court found that Risto Riihimäki, head of Lappeenranta-based Idän Liikenteenvälitys IL Oy, played a central role in sending 164 trucks and trailers to Russia in 2022 and 2023, despite restrictions imposed after Moscow’s full-scale invasion of Ukraine. The company, which now operates as Rent ja Kalusto Oy, had declared that the vehicles were bound for companies registered…

Iraq Intensifies Anti-Graft Drive with Dozens of High-Profile Arrests, Asset Seizures

Corruption, Prosecutions
A sweeping anti-corruption campaign led by Prime Minister Ali al-Zaidi has resulted in the arrest of dozens of senior officials and lawmakers, drawing praise from parliamentary watchdogs who also warn that the drive must cut deeper to dismantle the country’s entrenched patronage networks. Taha Difai, the head of Iraq’s parliamentary Committee for Integrity, cautioned that the high-profile arrests and asset seizures would ultimately yield little long-term impact unless investigations targeted the powerful political factions that have dominated public spending for more than two decades. “We support the government’s measures to combat corruption, pursue corrupt officials and recover public funds. These…

Interpol: 5,811 Arrested, $293M Seized in Massive Cyber Crackdown

Fraud, Prosecutions
An international anti-fraud operation coordinated by Interpol has led to the arrest of 5,811 individuals and the interception of $293 million in illicit assets, the international police agency announced Thursday. The operation, which spanned 97 countries between Jan. 15 and April 30, targeted ‘social engineering’ schemes. These included business email compromise, sextortion, impersonation, and investment scams, as well as the money laundering activities linked to them. Over the course of the four-month crackdown, authorities identified more than 142,000 victims globally across 152,808 cases. Interpol stated that the sheer number of victims “highlights the extent to which social engineering scams and…

China: Former Official Sentenced to Death in $325 Million Bribery Case

Bribery, Prosecutions
A Chinese court has sentenced a former senior official to death for accepting more than 2.21 billion yuan ($325 million) in bribes over a 30-year period, according to a statement from the Changzhou Intermediate People’s Court in Jiangsu province. The court found 69-year-old Yang Youlin guilty of bribery, embezzlement, money laundering, and abuse of power. The offenses were committed while he held various administrative positions from 1993 to 2023, including his role as deputy director of an economic zone in the eastern city of Nanjing. In addition to the death sentence, the court stripped Yang of his political rights for…

Scoular to Pay Over $10 Million to Resolve FCPA Bribery Case

Bribery, Prosecutions
What appeared on the books as re-inspection fees was, prosecutors say, something else entirely. Over six years, The Scoular Company allegedly reimbursed customs brokers for hundreds of thousands of dollars in bribes paid to Mexican border officials, a scheme that has now resulted in a resolution worth more than $10 million with the U.S. Department of Justice. The Omaha-based agricultural supply chain company entered into a three-year deferred prosecution agreement after being charged with conspiracy to violate the anti-bribery provisions of the Foreign Corrupt Practices Act. The case stems from conduct between 2013 and 2019, when Scoular relied on customs…

Corruption & economic crime prosecutions on the rise but white-collar criminals let off the hook

Prosecutions
New data on key corruption and economic crime offences in Spotlight’s enforcement tracker has revealed big increases in prosecutions across the board in 2024-25. But looking beyond the headline numbers, what story does this data really tell us about the state of anti-corruption enforcement in England and Wales? Domestic corruption enforcement surgesMisconduct in public office (MIPO) prosecutions rose by 104%, and convictions by 56% in 2024-25 compared to the previous year – a record-breaking spike coinciding with recent news headlines of high-profile MIPO investigations. This is the main offence for prosecuting corruption in the UK. Abuse of position prosecutions –…

Moldovan Vladimir Plahotniuc Sentenced to 19 Years for Crimes, Including “Billion Dollar Bank Fraud”

Fraud, Prosecutions
A Moldovan court on Wednesday found businessman Vladimir Plahotniuc guilty of participating in the country’s ‘Billion Dollar Bank Fraud,’ sentenced him to 19 years in prison, and ordered the seizure of more than 1.1 billion Moldovan lei (roughly $64 million) in assets. The verdict by a panel of judges at the Chișinău Court said Plahotniuc “created and managed a criminal organization that committed several crimes, including fraud and money laundering, in particular the theft of financial means from the banking system of the Republic of Moldova with their subsequent laundering.” A former member of parliament, deputy speaker and leader of…

Tunisia Jails Ex Prime Minister and Billionaire in Major Corruption Ruling

Corruption, Prosecutions
A Tunisian court has handed prison sentences to former Prime Minister Youssef Chahed, businessman Marouan Mabrouk—the son-in-law of former President Zine El Abidine Ben Ali—and several other former ministers on corruption charges. Chahed, who served as prime minister between 2016 and 2020, was sentenced Monday to six years in prison, along with former ministers including the foreign minister, finance minister, state property minister, human rights minister, and information and communications technology minister, the state-run TAP news agency reported Tuesday, citing a judicial source. The court also ordered each defendant to pay a fine of 800 million dinars (about $276 million).…

Jailed Istanbul Mayor İmamoğlu Faces Mass Corruption Trial

Corruption, Prosecutions
The imprisoned former mayor of Istanbul, Ekrem İmamoğlu, appeared in court on Monday to face sweeping corruption and organized crime charges in a mass trial that rights groups say is politically motivated and could result in a prison sentence of more than 2,000 years. İmamoğlu, a leading rival of President Recep Tayyip Erdoğan, is being tried alongside more than 400 co-defendants, most of them officials or associates tied to the Istanbul Metropolitan Municipality, which he has led since 2019. Prosecutors accuse him of heading a criminal organization that allegedly used municipal contracts, bribery and rigged tenders to generate money and…

France’s Ex-President Sarkozy Appeals Conviction in Libya Corruption Case

Corruption, Prosecutions
Anti-corruption watchdogs are closely monitoring the historic appeals trial of former French President Nicolas Sarkozy this week, pointing to his conviction for soliciting illegal campaign cash from the Libyan dictator Muammar Gaddafi as a stark reminder that top-level political graft is never a victimless crime. The 71-year-old former president is challenging a September ruling that sentenced him to five years in prison, a 100,000-euro (about $117,000) fine and a five-year ban from public office. He was acquitted on several other counts due to insufficient evidence, and ultimately spent only 20 days behind bars before an appeals court ordered his release.…

Philippine Vice President Faces Impeachment Over Corruption and Assassination Threats

Corruption, Prosecutions
Philippine lawmakers on Wednesday opened formal impeachment hearings against Vice President Sara Duterte, initiating a high-stakes political showdown fueled by accusations of massive corruption and extraordinary threats to assassinate President Ferdinand Marcos Jr. The proceedings represent a stunning rupture between the country’s two top leaders. Duterte, 47, faces a litany of severe charges, most notably the alleged embezzlement of 612.5 million pesos (about $10.19 million) in confidential government funds during her first 18 months in power. According to reporting by OCCRP’s media partner in the Philippines, Rappler, the sweeping complaints transmitted to the House of Representatives include financial fraud, corruption…

Fifty jurisdictions, one goal: Eurojust unites prosecutors from around the world to fight organised crime

Money Laundering, Prosecutions
Organised crime groups are operating on a global scale and evolving at an unprecedented pace, exploiting new technologies and geopolitical instability. These once-local groups are spanning continents and currencies, well beyond EU borders. To bring down globalised criminal networks effectively, Eurojust is scaling up its cooperation with judicial authorities outside the European Union. High-level representatives, including a minister and prosecutor generals from 50 jurisdictions representing Latin America, the Western Balkans, North Africa, the Middle East and the European Union convened to design strategic and operational actions to fight the threat of criminal groups. The event included the endorsement of a…

Shortcomings in Money Laundering Prevention Lead to €45 Million Fine for J.P. Morgan

Money Laundering, Prosecutions
Germany’s financial watchdog has fined J.P. Morgan €45 million after identifying widespread failures in the bank’s processes for reporting suspicious transactions, according to a notice from the Federal Financial Supervisory Authority (BaFin). The Frankfurt-based institution was found to have “culpably breached” its supervisory obligations related to internal controls designed to detect and report potential money laundering. BaFin said that, between October 4, 2021, and September 30, 2022, the bank systematically failed to submit suspicious transaction reports to the German Financial Intelligence Unit (FIU) without undue delay, a core requirement under Germany’s Money Laundering Act (Geldwäschegesetz). The enforcement action became final…

First Trust Portfolios Fined $10 Million Over Improper Gifts & Misleading Records

Bribery, Prosecutions
First Trust Portfolios has agreed to pay a $10 million fine and accept a censure after the Financial Industry Regulatory Authority (FINRA) found the firm provided lavish gifts and entertainment to broker-dealer representatives in violation of longstanding limits on non-cash compensation tied to investment product sales. The settlement is outlined in a Letter of Acceptance, Waiver and Consent (AWC) that First Trust submitted without admitting or denying the findings. The Illinois-based firm, a wholesale distributor of investment company securities, has been a FINRA member since 1991 and works with hundreds of registered representatives across the country. According to FINRA, from…

UK Jails Crypto Fraud Masters After Record 60,000-Bitcoin Seizure

Digital Currencies, Fraud, Prosecutions
A Chinese national and her accomplice were sentenced Tuesday in London for laundering funds from a massive investment fraud in China, involving more than 128,000 victims and losses of roughly 600 million pounds ($790.6 million), the Crown Prosecution Service said. Zhimin Qian, also known as Yadi Zhang, 47, was sentenced to 11 years and eight months at Southwark Crown Court after pleading guilty to possession and transfer of criminal property, offenses connected to laundering the proceeds of the fraud. Her accomplice, Malaysian national Seng Hok Ling, 47, received a sentence of four years and 11 months for a money laundering…

Peru Jails Ex-President Vizcarra After 14-Years Corruption Sentence

Corruption, Prosecutions
Former Peruvian president Martín Vizcarra was transferred to Lima’s Barbadillo prison on Wednesday evening to begin serving a 14-year sentence, a day after a Peruvian court found him guilty of corruption, state news agency Andina reported Thursday. The court ruled that Vizcarra accepted more than $600,000 in bribes in exchange for granting public works contracts to companies during his tenure as governor of the southern Moquegua region between 2011 and 2014. “It is noted that Martin Vizcarra committed illegal acts by taking advantage of his position as Moquegua region governor, conditioning the bidders to award them the contract in exchange…

Exiled Gabonese First Lady, Son Sentenced in Absentia to 20 Years for Corruption

Corruption, Prosecutions
A Gabonese court on Wednesday sentenced former First Lady Sylvia Bongo and her son Noureddin Bongo Valentin to 20 years in prison for embezzlement, bribery, money laundering, and other corruption-related offenses. Both were tried and sentenced in absentia while living in exile in London. The court also ordered each to pay a fine of 100 million CFA francs (about $177,000). In addition, Noureddin Bongo must pay 1.2 trillion CFA francs (nearly $2.1 billion) in damages, while the two were jointly ordered to pay another 1 trillion CFA francs (more than $1.7 billion) for “moral harm” against the state. The verdict…

Six organised criminal gangsters convicted for large scale money laundering inside DVD cases

Money Laundering, Prosecutions
Six members of an organised criminal gang (OCG) have been convicted for playing key roles in smuggling as much as £430, 925 in cash hidden inside DVDs cases on their way to Dubai.Atif Hussain, 33, Usman Mahmood, 38, and Shafiq Zahid, 47, were convicted today of being part of the money laundering arrangement.On a previous occasion, Asad Saddique, 34, Haroon Iqbal, 38, and Tallat Hussain, 34, pleaded guilty to the same offence.This criminal activity was investigated by the National Crime Agency. The Crown Prosecution Service made the decision to prosecute.The cash was exported to Dubai in airfreight consignments through Birmingham,…

Six people sentenced for part in a £20 million fraud against the taxpayer

Fraud, Prosecutions
Six people have been sentenced for playing a role in a complex £20 million fraud against UK taxpayers.Kashaf Bashier, 43, William Lindfield, 63, Vishal Chudsama, 42, Adeel Karamat Malik, 45, Beverley Thompson, 60, and Sarah Jane Peploe, 54, have been sentenced to 23 months imprisonment, suspended for 12 months; seven years and six months imprisonment; three years and six months imprisonment; 23 months imprisonment suspended for 18 months, 15 days Rehabilitation, 150 hours unpaid work; wo years imprisonment, suspended for 18 months, 10 days Rehabilitation, 100 hours unpaid work; and 21 months imprisonment, suspended for 18 months, 12 days Rehabilitation,…

Canada’s Financial Watchdog Fines Crypto Firm Cryptomus $127 Million for AML Failures

Digital Currencies, Money Laundering, Prosecutions
Canada’s financial intelligence watchdog has handed down its largest-ever penalty, fining Xeltox Enterprises, the company behind the crypto platform Cryptomus, $127 million (C$176,960,190) for repeated violations of anti-money laundering and counter-terrorist financing laws. The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) said the British Columbia–based firm was fined following a compliance examination that uncovered widespread failures to comply with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated regulations. Between July 1 and July 31, 2024, FINTRAC found that Cryptomus failed to submit 1,068 suspicious transaction reports despite having reasonable grounds to suspect links…

Spanish court orders ex-UN official extradited to US in bribery case

Bribery, Prosecutions
MADRID (Reuters) -Spain’s High Court has ordered that former senior U.N. official Vitaly Vanshelboim be extradited to the United States where he is accused of taking bribes and money laundering, according to a court document seen by Reuters on Tuesday. Vanshelboim, a Ukrainian national, served in high-ranking roles within the U.N. Office for Project Services (UNOPS) until he was placed on administrative leave in 2021 and subsequently dismissed in 2023. He was arrested in Spain in March on an international warrant issued by the Southern District Court of New York. Vanshelboim is accused of accepting at least $2 million in…

Peru’s Ex-President Sentenced Amid Sweeping Odebrecht Scandal

Money Laundering, Prosecutions
A Peruvian court on Wednesday handed former President Alejandro Toledo a second prison sentence for money laundering and corruption in a case tied to bribes he received from Brazilian construction giant Odebrecht. Toledo, who led Peru from 2001 to 2006, was sentenced to 13 years and four months for money laundering, the judiciary said on X. It was his second conviction in connection with the sprawling scandal. His latest sentence will not be added to his existing 20-year prison term but will run concurrently at Lima’s Barbadillo Prison, where three other ex-presidents are also jailed. The court found the 79-year-old…

Bolivia: Ex-Interior Minister Arrested Following U.S. Extradition

Money Laundering, Prosecutions
Bolivian authorities arrested former Interior Minister Arturo Murillo on Thursday after his extradition from the United States, where he had been serving a prison sentence for money laundering, the Interior Ministry said. The 61-year-old was taken into custody upon arrival in Santa Cruz. Murillo faces multiple charges in Bolivia, including an eight-year sentence in a 2019 case over the irregular purchase of tear gas from Ecuador, which allegedly cost the state more than $2.3 million. He was first detained in the U.S. in 2021 on accusations of taking bribes from a Florida-based company and was sentenced there to six years in prison in 2023. Article…

Disgraced former Sen. Bob Menendez’s wife gets 4½ years in prison for her role in a bribery scheme

Bribery, Prosecutions
Former U.S. Sen. Bob Menendez’s wife told a judge that her husband was “not the man I thought he was” before she was sentenced Thursday to 4½ years in prison for selling the powerful New Jersey politician’s influence in exchange for bribes of cash, gold bars and a luxury car. U.S. District Judge Sidney H. Stein sentenced Nadine Menendez, 58, after she was convicted in April of colluding from 2018 to 2023 with her husband, the former Democratic chairman of the Senate Foreign Relations Committee, in a variety of corrupt schemes, some involving assisting the Egyptian government. Sobbing as she…

Azerbaijan Jails Ex-Oil Executive for $32M Embezzlement

Fraud, Money Laundering, Prosecutions
An Azerbaijani court has sentenced a former state oil firm executive to 14 years in jail for embezzling 54 million manats ($31.76 million). The Baku Court of Grave Crimes on Monday jailed Ramin Isayev—who served from 2008 to 2020 as the general director of SOCAR AQS, a joint venture of the state oil firm that operates drilling rigs in the Caspian Sea—after finding him guilty of embezzlement, money laundering, abuse of office, and fraud. The court also ordered the confiscation of real estate and large sums of cash belonging to him and his family, according to RFE/RL’s Azerbaijani service. The…

Police Arrest 5 in €100M Cross-Border Cryptocurrency Fraud Case

Fraud, Prosecutions
Police across Europe have arrested five suspects in a cross-border operation coordinated by Eurojust that targeted an online cryptocurrency investment scam that defrauded victims of at least €100 million. The arrests, which included the alleged main organizer, took place during a joint action day that also saw searches carried out and bank accounts and other assets frozen in Spain, Portugal, Italy, Romania and Bulgaria, Eurojust said Wednesday. The suspected organizer is under investigation for large-scale fraud and money laundering. Authorities said the scheme lured investors onto professionally designed platforms that promised high returns from cryptocurrencies. Instead, much of the money…

Criminals stripped of money in record year for compensation

Proceeds of Crime, Prosecutions
Victims of crime have received record compensation from criminal funds as new figures show results of a yearlong crackdown on dirty money.   Asset recovery gives law enforcement the tools to track down and take back assets gained through criminal activity, ensuring offenders cannot benefit from the proceeds of their crimes.  New figures released today (Thursday 11 September) show that almost £50 million taken from criminals was returned to victims, an 165% increase on the previous year and the highest amount in over half a decade.   This comes as law enforcement recovered almost £300 million in criminal assets. It highlights…

Luhansk Ex-Governor Detained in Ukrainian Graft Probe

Corruption, Prosecutions
A Ukrainian anti-corruption court has ordered former Luhansk governor Serhiy Haidai into pre-trial detention over a suspected corruption scheme in military procurement. He may be released on bail of 10 million UAH (about $250,000). The case centers on alleged kickbacks and inflated contracts for drones and electronic warfare systems purchased in 2024 and 2025. Investigators say Haidai conspired with political and business allies to rig the tender process and manipulate forensic reports. The National Anti-Corruption Bureau (NABU) and the Specialized Anti-Corruption Prosecutor’s Office (SAPO) are leading the investigation. Prosecutors may appeal the court’s ruling. Article Credit: https://www.occrp.org/en/news/luhansk-ex-governor-detained-in-ukrainian-graft-probe

Singapore Tycoon Pleads Guilty in Graft Probe

Corruption, Prosecutions
Singaporean billionaire Ong Beng Seng pleaded guilty Monday to abetting obstruction of justice in a corruption case involving former Transport Minister S. Iswaran. Prosecutors said Ong instructed the Singapore Grand Prix director in May 2023 to retroactively bill Iswaran for a business-class flight from Doha amid an investigation into illicit gifts. The charge is part of a broader probe into Ong’s alleged offer of private jet travel and luxury accommodation to the minister during his time in office. Ong, 79, founder of Hotel Properties Ltd. and a key figure behind Singapore’s Formula 1 night race, was also charged with offering…

Bangladesh Opens Corruption Trial for Sheikh Hasina

Corruption, Prosecutions
Testimony began Monday in three separate corruption trials against Bangladesh’s ousted Prime Minister Sheikh Hasina, her son Sajeeb Wazed Joy, and daughter Saima Wazed Putul, proceedings that prosecutors say could permanently bar the once-dominant political family from public office. The cases, heard at Dhaka’s Special Judge’s Court-5 under Judge Mohammad Abdullah Al Mamun, accuse the defendants of unlawfully allocating government land and other abuses of power. Bangladesh’s state news agency, BSS, reported that the trials are proceeding in absentia, with all 48 defendants—including Hasina and her children—considered fugitives after failing to appear in court. The Anti-Corruption Commission alleges Hasina illegally…

Former CEO of Dutch ‘Jumbo’ Supermarkets Requests Appeal for Bribery Conviction

Bribery, Prosecutions
Frits van Eerd, former CEO of the Dutch supermarket chain Jumbo, has filed an appeal against his two-year prison sentence on charges including money laundering and accepting bribes, according to his lawyer. The Northern Netherlands District Court in the city of Groningen sentenced van Eerd on August 7, noting that authorities had found 427,607 euros ($498,004) of “criminal money” in his home. Van Eerd also took bribes from a co-defendant in the case, the court ruled. “Look, he has always said, ‘I didn’t do this, I wasn’t bribed.’ And, by the way, the co-defendant says he didn’t bribe anyone. So…

Ex-Directors of Abramovich-Linked Firm Indicted in €25M Cyprus Tax Evasion Case

Prosecutions, Tax Evasion
Former directors of a company linked to Roman Abramovich’s superyachts will end up in Cyprus court for criminal offenses related to VAT, officials say. Congo’s Ex-Justice Minister Convicted of Diverting War Victim FundsFormer Justice Minister Constant Mutamba has been convicted of diverting $19 million meant to compensate war crime victims in Kisangani. Druze Families Blame Syrian Forces for Suwayda ExecutionsAmnesty International urges accountability after Druze civilians were executed “in cold blood” in Suwayda, accusing Syrian forces of sectarian crimes that reflect the deadly cost of impunity. Cyprus’ tax commissioner on Friday filed a criminal indictment against former directors of a…

Sri Lanka’s Former President Arrested on Corruption Charges

Corruption, Prosecutions
Former Sri Lankan President Ranil Wickremesinghe has been arrested and remanded on corruption charges, becoming the first head of state in the country’s history to face such a trial. The 76-year-old leader was taken into custody by the Criminal Investigation Department over allegations of misusing public funds during a 2023 trip to the U.K. Authorities say state money covered his travel and security expenses for what they describe as a private visit. Wickremesinghe, who maintains that his wife paid her own way and no public funds were misused, was initially admitted to the Prison Hospital and later transferred to the…

Man who tried to smuggle £1.2m in suitcases out of UK jailed

Money Laundering, Prosecutions
A man who tried to smuggle £1.2m in suitcases out of the United Kingdom to Lebanon has been jailed for 21 months, following a National Crime Agency investigation. Mazen Al Shaar custodyMazen Al Shaar, 48, was stopped by Border Force officers on Saturday 15 March this year as he was about to fly from Terminal Three at Heathrow Airport to Beirut in Lebanon. The supermarket worker, of Marsworth Close, Middlesex, said he only had £500 in cash on him and that he was leaving the UK to visit family. But officers searched his three suitcases and two of them contained…