Fiat crime (financing terror, money laundering, fraud, ponzi, etc.)

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In one of the largest cash heists in Los Angeles history, thieves made off with as much as $30 million in an Easter Sunday burglary at a San Fernando Valley money storage facility, an L.A. police official revealed Wednesday.

The burglary occurred Sunday night at a facility in Sylmar where cash from businesses across the region is handled and stored, according to L.A. Police Department Cmdr. Elaine Morales.

The burglars were able to breach the building as well as the safe where the money was stored, Morales said. Law enforcement sources said the break-in was among the largest burglaries in city history when it comes to cash, and the total surpassed any armored-car heist in the city as well.
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www.latimes.com

In one of L.A.'s largest cash heists ever, burglars steal as much as $30 million from vault

Thieves stole as much as $30 million Sunday night at a facility in Sylmar where cash from businesses across the region is handled and stored.
www.latimes.com www.latimes.com

Why did they rob a bank money storage facility?

Because that's where the money cash is.
 
www.scmp.com

Singapore jails Fujian native in US$2.2 billion money laundering case

Su Wenqiang, 32, pleaded guilty during a court hearing on Tuesday. He was one of 10 foreigners holding multiple citizenships who were arrested in Singapore in August last year in simultaneous raids.
www.scmp.com www.scmp.com

www.scmp.com

Singapore jails second man in US$2.2 billion money laundering case

Cypriot national Su Haijin was sentenced to 14 months’ jail and is the second defendant jailed in Singapore’s biggest-ever money laundering probe.
www.scmp.com www.scmp.com
 

British Billionaire Joe Lewis The Insider Trading Case and Sentencing Decision​

The recent sentencing decision in the insider-trading case involving British billionaire Joe Lewis has sparked significant debate and scrutiny. Lewis, 87 years old and worth an estimated $6.2 billion, pleaded guilty to securities-fraud charges for tipping off associates about confidential information regarding companies he was invested in. Despite his guilty plea, Lewis will not serve prison time, with the judge citing his advanced age and poor health as mitigating factors.

The case against Lewis centers on allegations that he provided insider information to a romantic partner, a poker buddy, and the pilots of his private jet, allowing them to profit from trading on the information. While Lewis himself did not directly profit from the scheme, his associates collectively made millions of dollars, raising questions about his culpability and the broader implications of white-collar crime in the financial world.

At his sentencing hearing, U.S. District Judge Jessica Clarke imposed a sentence of three years probation and a $5 million fine, deviating from federal sentencing guidelines that recommended a prison term of 18 months to two years. Clarke justified her decision by citing Lewis’s medical needs and advanced age, expressing concern for his well-being if incarcerated. This lenient sentencing approach has sparked criticism from some quarters, with detractors arguing that it sends the wrong message about accountability and the consequences of financial misconduct.

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RE: post #3

Remember the movie "Heat"

Thieves steal $30 million in Easter Sunday Heist​

Apr 4, 2024
An Easter Sunday burglary at a San Fernando Valley money storage facility netted thieves as much as $30 million in cash in an operation that has, at least for now, left authorities baffled. Kareen Wynter reports for KTLA 5 News at 3, Apr. 4, 2024. Details: ktla.com


3:31
 
Everything is a scamon Facebook.
 
The bank didn't fail.........it got robbed.

A bank failure shattered trust in this Kansas town. Only honest talk will heal it.​


ELKHART — Eight months after a bank failure shook this historic and close-knit community, new details are emerging that indicate just how deeply the bank’s collapse was felt in town.

It’s a story about the theft of $47 million, which authorities allege the bank’s CEO used to cover his losses in an online cryptocurrency scam, but ultimately it’s a tale about trust and money and what happens when an institution that most of us take for granted collapses.

“People need to know what occurred,” Brian Mitchell, a third-generation resident and one of the targets of the scheme, told me. “There was a turning point when the victim became the thief.”

Shan Hanes, the CEO of Heartland Tri-State Bank, is charged in federal district court with embezzling $47.1 between May and July of last year to purchase cryptocurrency. If convicted, he could be sentenced to the maximum penalty of up to 30 years in prison.

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kansasreflector.com

A bank failure shattered trust in this Kansas town. Only honest talk will heal it. • Kansas Reflector

Eight months after a bank failure shook the historic and close-knit community of Elkhart, new details are emerging.
kansasreflector.com kansasreflector.com
 
Too bad for him that his last name isn't Corzine.
 
Parts of this had me laughing. Guy doesn't look like a thief.........but then again, what does a thief look like?

Thief says he tried on, then melted down Yogi Berra World Series rings | 60 Minutes​

Apr 8, 2024

Tommy Trotta spent decades stealing priceless sports memorabilia and artwork from museums. Having served some time, he gives up his playbook to 60 Minutes.


13:32

news.yahoo.com

Trail of larceny: complete list of thefts in widespread burglary ring

Jun. 15—Below is a list of the thefts and attempted thefts investigators allege involved the nine individuals named in federal charging documents unsealed Thursday. A federal grand jury handed up an indictment against four individuals: Nicholas Dombek, Damien Boland, and brothers Alfred and...
news.yahoo.com news.yahoo.com
 

‘Panama Papers’ trial starts. 27 people charged in the worldwide money laundering case​


Updated 12:30 PM EDT, April 8, 2024

PANAMA CITY (AP) — The trial of 27 people charged in connection with the worldwide “Panama Papers” money laundering started Monday in a Panamanian criminal court.

Those on trial include the owners of the Mossack-Fonseca law firm that was at the heart of the 2016 massive document leak.

The Panama Papers include a collection of 11 million secret financial documents that illustrate how some of the world’s richest people hide their money.

The repercussions of the leaks have been far-ranging, prompting the resignation of the prime minister of Iceland and bringing scrutiny to the leaders of Argentina and Ukraine, Chinese politicians and Russian President Vladimir Putin, among others.

The often-delayed trial opened Monday, with lawyers Juergen Mossack, Ramón Fonseca and other ex-employees of the firm facing money laundering charges.

Mossack was present in the courtroom; lawyers for Fonseca said he was in a hospital in Panama.

More:

apnews.com

'Panama Papers' trial starts. 27 people charged in the worldwide money laundering case

Panama has started the trial of 27 people charged in the worldwide “Panama Papers” money laundering case.
apnews.com apnews.com
 

Vietnam tycoon gets death sentence in $12-bln fraud case​

HANOI, April 11 (Reuters) - A court in Vietnam handed the death sentence on Thursday to real estate tycoon Truong My Lan for her role in a 304-trillion-dong ($12.5-billion) financial fraud, the country's biggest on record, state media said.

Her trial, begun on March 5 and ending earlier than planned, was one dramatic result of a campaign against corruption that the leader of the ruling Communist Party, Nguyen Phu Trong, has pledged for years to stamp out.

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Fiat is a crime per se

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The money launderer, who charges a hefty fee to clients to exchange cash for gold and other currencies, has been operating via Heathrow to Dubai - the former doesn't scan outbound luggage for cash, while the latter welcomes sacks of it. They're also the #1 and #2 of the world's busiest airports for international passengers.

The UK mandates passengers declare amounts exceeding $10,000 to customs authorities. Larvin, however, risked arrest by not disclosing her precious cargo, not that anyone would notice. The suitcases slid through Heathrow's baggage-handling system and its 3-D scanner, designed to detect explosives rather than contraband currency.

The next morning in Dubai, the women calmly collected their bags, declaring $2.8 million at customs, a practice fully permitted by UAE law. While the UAE allows any amount of cash to enter its borders, the laxity of international airports in monitoring money flows has created a loophole, one exploited by money launderers worldwide.

Each year, more than $2 trillion in proceeds from illegal enterprises enters the global financial system, with a significant portion smuggled across borders by air. According to estimates by the UN Office on Drugs and Crime and the Financial Action Task Force, "hundreds of billions in illicit cash" fly out of the UK and other nations to countries with fewer regulations.

One of the reasons for so much airline smuggling is that banks around the globe have stepped up the reporting of suspicious transactions, making it more difficult to launder money using traditional wire transfers. So it's back to even more traditional ways of money laundering.
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What, No Bitcoin? How "Hundreds Of Billions" Are Laundered With Cash On Airplanes | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com www.zerohedge.com
 

Trump, Putin & Co. - Deutsche Bank’s questionable clientele | DW Documentary​

May 9, 2024 #documentary #dwdocumentary #deutschebank

Deutsche Bank managers driven by greed set it on the wrong track in the 2000s. For many years, the financial institution maintained close ties with Vladimir Putin. And involved itself in shady deals with the Russian autocrat.

In the early 2000s, Deutsche Bank wanted to make it big in Moscow. For some employees, this was something to be achieved by any means necessary: bribing Putin’s officials, brothel visits for good customers, money laundering for the mafia.

When it all came to light, this sent a shock wave through the bank: to this day, Deutsche Bank is still laboring under the burden of fines totaling billions. But the CEOs claimed total innocence. Just one of many scandals.

Other questionable deals include loans to Donald Trump. The bank’s very special relationship with the US-American real estate tycoon began in the year 1998. Trump was one of Deutsche Bank’s best customers until shortly before his 2017 presidency. The credit institute loaned him huge sums - despite his track record for business bankruptcy and a dubious reputation as a defaulting debtor.


42:25
 
Nothing to see, can listen in one tab, play around the forum in a different tab.

TD Bank caught up in drug money-laundering scheme​

May 9, 2024 Listen to The Decibel, The Globe and Mail's daily news podcast

TD Bank has been plagued by concerns about its anti-money-laundering capabilities for over a year. In March 2023, they tried to acquire the U.S. based bank First Horizon Corp. Regulatory issues delayed the acquisition, and in May 2023, the deal fell through.

The extent of TD’s anti-money-laundering issues weren’t clear until now, when it’s revealed that TD is involved in a U.S. investigation of a US$653 million money-laundering and drug-trafficking operation. Tim Kiladze, financial reporter and columnist for the Globe, is on the show to talk about TD’s alleged lack of oversight and what this means for the bank – and its customers – going forward.


23:03
 

Unraveling the Agridime Scandal : A $10 Million Alleged Fraud in the Agricultural Sector​

In the world of agricultural investments, a recent scandal has sent shockwaves through the industry. A Texas-based company, Agridime LLC, is at the center of a significant controversy following a civil enforcement action filed by the U.S. Commodity Futures Trading Commission (CFTC). The CFTC alleges that Agridime LLC, along with its co-founders Joshua Link and Jed Wood, violated the Commodity Exchange Act, leading to a significant scandal in the agricultural sector. This scandal has raised serious questions about the integrity of agricultural investments and the mechanisms in place to protect investors.

Agridime’s Alleged Fraudulent Scheme​

Agridime LLC, a company that offered a unique cattle purchase program, is accused of operating a fraudulent scheme that defrauded thousands of customers across at least 14 states. The company’s program purportedly allowed customers to buy and sell cattle without the actual day-to-day care of the cattle, a proposition that attracted many investors looking for a hands-off investment opportunity in the agricultural sector.

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80-Year-Old Vet Scammed out of $1.5 Million in Gold Bars​

An 80-year-old veteran was reportedly defrauded out of $1.5 million of gold in a sophisticated scheme involving fake federal agents and phony sting operations.

According to Fox 13 in Tampa, one woman, Swetaben Patel, 42, was arrested Thursday for her participation in the scheme. “Police say there appear to be numerous people involved in this fraud scheme,” Fox 13 reported.

Police in Bradenton, Florida were first told of the scam by the 80-year-old vet—Fox 13 didn’t say in which branch he served—in April. The alleged incidents began in February, when the victim received a knock at his door from two people posing as federal agents, Fox13 reported, citing police documents.

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www.moneymetals.com

80-Year-Old Vet Scammed out of $1.5 Million in Gold Bars

An 80-year-old veteran was reportedly defrauded out of $1.5 million of gold in a sophisticated scheme involving fake federal agents and phony sting operations.
www.moneymetals.com www.moneymetals.com
 
Figured I post this here instead of the Russia or Ukraine threads because it's basically about supposed financial crimes. But the people mentioned here began dealing with Switzerland long before the Ukraine invasion.

On a different note: Who wouldn't want to deal with banks in secret? Look at us here in America. You go to work and get paid. Your pay is taxed. You put money away or invest it and your interest or gains are taxed. The money you put into a bank or invested (vehicle doesn't matter) was already taxed. And no matter the financial institution anything you make is reported to the gov. We're being royally screwed.

Imagine what'll go on with a completely digital currency?

Switzerland: A haven for Russian money? | DW Documentary​

May 27, 2024 #documentary #dwdocumentary

Despite sanctions against Russia, asset managers are said to have hidden money belonging to Putin‘s confidants. This documentary follows the trail of shadow bankers and high-ranking Russian officials to Switzerland.
Private jets and villas, bank accounts and financial assets: Switzerland is coming under criticism from the international community. Have Swiss asset managers and well-known institutions circumvented sanctions against wealthy Russians with good connections to the Kremlin?
When the Russian army invaded Ukraine in February 2022, the European Union responded with sanctions against Russia. Russian oligarchs who did business in Europe were also affected. Many of them keep their assets in Swiss private banks. Switzerland joined the sanctions, albeit hesitantly and only under pressure from abroad.
However, it appears that some Russian citizens are still managing to circumvent the sanctions. This is indicated by internal documents from a Zurich-based asset manager that were published on the darknet for a short time in 2023. How extensive are the concealed Russian assets? How seriously did the Swiss authorities take the sanctions? And by what means are the US and Europe trying to force the hand of the Swiss banks?


42:26
 
searcher said:
On a different note: Who wouldn't want to deal with banks in secret? Look at us here in America. You go to work and get paid. Your pay is taxed. You put money away or invest it and your interest or gains are taxed. The money you put into a bank or invested (vehicle doesn't matter) was already taxed. And no matter the financial institution anything you make is reported to the gov.
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searcher said:
We're being royally screwed.
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It only got that way by enough people being duped by those in power that it was a good idea.
.....and people still support and go along with it, while knowing we are screwed.

It's all built upon class warfare and the idea that the other guy is gonna get screwed harder than themselves.
 

Chinese brokers launder hundreds of millions for global crime groups | FT Film​

Jun 21, 2024 #moneylaundering #drugtrafficking #crime

Chinese money launderers are facilitating the fentanyl epidemic and helping international drug traffickers, like Mexican cartels and the Italian mafia, launder the proceeds of crime. The FT investigates the connection between capital flight from China and global organized crime.


39:03
 

Juror targeted in ‘chilling’ bribery plot involving GPS, bag of cash, feds say​

A juror in one of the country’s largest pandemic fraud cases not only received a bag with $120,000 in an attempt to influence her decision at trial, but was also surveilled and followed — physically and online — by those trying to bribe her, federal prosecutors said.

Officials charged five people who are accused of hatching a plan to visit a juror’s Minnesota home this month with a gift bag filled with cash and a promise for more if the defendants in the case were acquitted, they announced on Wednesday.

After the juror reported receiving the cash, one of the prosecutors likened the alleged bribery attempt to “the stuff that happens in mob movies.” But three weeks later, Andrew Luger, the U.S. attorney in Minnesota, said the foiled scheme was “so much more” than any movie plot.

“These defendants engaged in a chilling attack on our justice system,” Luger, who as a federal prosecutor once worked to dismantle New York’s mafia families, said Wednesday at a news conference.

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Ex-Trump Associate Felix Sater Loses Money-Laundering Trial​

(Bloomberg) -- Felix Sater, the Moscow-born deal maker who was once part of Donald Trump’s inner circle, lost a civil trial in which he was accused of helping a wealthy Kazakh man launder millions of dollars through US real estate including condos at the Trump SoHo tower.

A federal jury in Manhattan issued the verdict Wednesday in favor of the city of Almaty, Kazakhstan, and one of the country’s biggest lenders, BTA Bank, awarding more than $32 million in damages, including interest, according to the lawyer for the plaintiffs, Matthew L. Schwartz of Boies Schiller Flexner LLP.

The loss in court is a setback for Sater, a controversial real estate operative who once had offices at Trump Tower. “I reject the verdict and will be appealing,” Sater said in a telephone interview. The verdict has yet to be posted on the court docket.

“We are privileged to have been able to present this evidence to a US jury, and are thrilled with the verdict in favor of our clients, including the jury’s imposition of punitive damages for the deliberate and particularly morally culpable conduct of Felix Sater,” said Schwartz, Boies Schiller’s chairman-elect and managing partner.

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searcher said:

‘Panama Papers’ trial starts. 27 people charged in the worldwide money laundering case​


Updated 12:30 PM EDT, April 8, 2024

PANAMA CITY (AP) — The trial of 27 people charged in connection with the worldwide “Panama Papers” money laundering started Monday in a Panamanian criminal court.

Those on trial include the owners of the Mossack-Fonseca law firm that was at the heart of the 2016 massive document leak.

The Panama Papers include a collection of 11 million secret financial documents that illustrate how some of the world’s richest people hide their money.

The repercussions of the leaks have been far-ranging, prompting the resignation of the prime minister of Iceland and bringing scrutiny to the leaders of Argentina and Ukraine, Chinese politicians and Russian President Vladimir Putin, among others.

The often-delayed trial opened Monday, with lawyers Juergen Mossack, Ramón Fonseca and other ex-employees of the firm facing money laundering charges.

Mossack was present in the courtroom; lawyers for Fonseca said he was in a hospital in Panama.

More:

apnews.com

'Panama Papers' trial starts. 27 people charged in the worldwide money laundering case

Panama has started the trial of 27 people charged in the worldwide “Panama Papers” money laundering case.
apnews.com apnews.com
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Update:

Panama Papers: Court acquits all 28 charged with money laundering​

A Panamanian court has acquitted all 28 people charged with money laundering in connection with the Panama Papers scandal, concluding a trial that began in April.

The secret financial documents were leaked in 2016, revealing how some of the world's richest and most powerful people use tax havens to hide their wealth.

Among those exonerated were Jurgen Mossack and the late Ramon Fonseca, founder of Mossack Fonseca, the defunct law firm at the centre of the scandal.

Judge Baloisa Marquinez said the evidence considered by the court was "not sufficient" to determine the criminal responsibility of the defendants.

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^^^^^^^^

Defendants Acquitted in Panama Papers Money-Laundering Trial​

In a striking verdict for a money-laundering case associated with the Panama Papers scandal, a Panamanian judge on Friday acquitted all 28 defendants, among them former employees of the law firm Mossack Fonseca, the source of the leaked documents that set off a worldwide furor in 2016.

The verdict came eight years after a partnership of media outlets published an explosive investigation into 11.5 million documents leaked from the Panama-based firm. The leak exposed the offshore banking industry, prompted international tax investigations and brought down heads of state.

Among the original 29 defendants were the shuttered firm’s co-founders, Jürgen Mossack, 76, and Ramón Fonseca, who died in May at age 71 while awaiting the verdict. In her 339-page ruling, the judge, Baloísa Marquínez, said that the case against Mr. Fonseca was dropped because of his death.

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searcher said:

Chinese brokers launder hundreds of millions for global crime groups | FT Film​

Jun 21, 2024 #moneylaundering #drugtrafficking #crime

Chinese money launderers are facilitating the fentanyl epidemic and helping international drug traffickers, like Mexican cartels and the Italian mafia, launder the proceeds of crime. The FT investigates the connection between capital flight from China and global organized crime.


39:03
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For those who prefer to read.

Inside The Chinese Money-Laundering Network Fueling America's Fentanyl Crisis​

It's worth noting that 100,000 Americans die in drug-related deaths per year, the vast majority from pills cooked with fentanyl, an opioid analog 50 times more potent than heroin. Every six months, the US drug death catastrophe eclipses the Vietnam War.

Fueling the fentanyl epidemic across the US are Chinese money launderers helping international drug traffickers, like Mexican cartels. Capital flight from China is not a new phenomenon, but in recent years, the scale of these transfers, washed through the drug trade, has become very alarming.

Paul Murphy from the Financial Times has provided the most straightforward explanation yet of the new Chinese money laundering network fueling America's fentanyl crisis:

More:

Inside The Chinese Money-Laundering Network Fueling America's Fentanyl Crisis | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com www.zerohedge.com
 

Putin’s Trader — How Rich Russian Hackers Stole Millions from U.S. Investors | CNBC Documentary​

Aug 1, 2024 #CNBC

He was young, rich and on the rise in Moscow. But when up-and-coming Russian oligarch Vladislav Klyushin boarded a private jet for a luxury ski vacation in the Swiss Alps, he had no idea that all of it was about to come crashing down. Klyushin was the owner of a cybersecurity company in Moscow called M-13, but the firm was secretly a front for a computer hacking and insider trading operation that plagued Wall Street for years, and generated more than $90 million in illicit profits for Klyushin’s criminal gang. Now, with exclusive access to the FBI investigators and Department of Justice prosecutors who chased Klysuhin around the globe, CNBC’s Eamon Javers can reveal the shocking details of the spectacular rise and fall of this audacious criminal enterprise. We learn about their insider trading in stocks of American companies including Tesla and other high-tech firms, and we see the crooks’ own text messages, which give a revealing look at the bromance between the oligarch and a veteran Russian intelligence hacker at the center of the crime ring. And in an exclusive interview, Javers sits down with a former Russian spy — an officer of the Russian FSB intelligence agency — who explains why all of this, and more, was so important to Russian leader Vladimir Putin.

And in a turn of events, the White House just announced a massive, multinational prisoner swap between the U.S., Russia and other nations. As part of the historic deal, the Russian government released high-profile Americans held in captivity there, including Wall Street Journal reporter Evan Gershkovich, who had been in a Russian prison for more than a year.

Also included in the trade were a number of Russians who had been arrested for various crimes and held in prisons in the U.S. and other countries. Klyushin was one of the prisoners released. Watch “Putin’s Trader” for the full story.

It took our investigative team countless hours to unravel the mysteries of “Putin’s Trader”—chasing down sources, going deep into a criminal web spun by those at the highest levels of global power. Join CNBC’s Eamon Javers in every step of this gripping journey by following and listening to the limited podcast series “The Crimes of Putin’s Trader”. It’s the expanded universe of this real-life thriller, featuring exclusive spy interviews and behind-the-scenes reporting. You can find “The Crimes of Putin’s Trader” podcast wherever you get your podcasts or click here and be the first to get notified about new episodes: https://cnbc.com/putinstrader


43:37

Chapters:
2:03 The case agents
7:00 The Moscow connection
12:07 A bromance
17:58 ‘We suck’
24:19 ‘$420. Funding secured’
32:49 The defector
 
Idiots following a Tik Tok viral story/trend commit check fraud and up with huge debts:
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“So what people discovered over the last few days was that Chase was having problems with their ATMs. They were able to deposit checks and get the balances and were able to withdraw them,” he said.

“Chase was pretty on top of it, within a day it was all fixed and the people that were doing this were seeing big holds in their accounts or huge negative balances.”
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