Foreign Collusion, Naked Shorting (Counterfeiting) & Money Laundering — All Illicit Wealth
EML took five days to reveal money laundering concerns
James Frost, 25 May 2021
The Brisbane-based firm, which specialises in pre-paid gift cards and reloadable sports betting cards, revealed it was alerted to the Central Bank of Ireland’s (CBI) concerns about the risk of money laundering in a letter to its wholly owned subsidiary PFS Card Services Ireland Limited (PCSIL) late on Thursday, May 13. Continue reading “Article: EML took five days to reveal money laundering concerns”
Crown spiked review of new money laundering rules
Patrick Hatch, 25 May 2021
Crown Resorts stopped an independent review of new anti-money laundering controls early this year after preliminary findings suggested it was not complying with measures to prevent criminal infiltration of its bank accounts.
Neil Jeans, principal at the anti-money laundering consultancy Initialism, told Victoria’s royal commission into Crown on Tuesday that Crown commissioned him in early 2021 to review its recent ban on cash deposits and third-party transfers to its patron bank accounts. Continue reading “Article: Crown spiked review of new money laundering rules”
Stitt voices support for investigation of meatpacking industry and prices
Cory Smith, 25 May 2021
TULSA, Okla. (KTUL) – Gov. Kevin Stitt and Blayne Arthur, the Oklahoma Secretary of Agriculture, sent a letter last week to the U.S. attorney general in support of the investigation into price-setting in the meatpacking industry.
They say the lack of competition in the meatpacking industry means possible “market manipulation” that squeezes profits for Oklahoma’s 52,000 cattle operations.
“The substantial margins between the live cattle prices our ranchers receive and the retail prices consumers pay at the grocery store are a continuing source of concern and frustration for Oklahoma’s beef industry,” reads part of the letter. Continue reading “Article: Stitt voices support for investigation of meatpacking industry and prices”
Raul J. Palabrica , 25 May 2021
Finally, after more than two decades, a trial court has rendered a decision on a scandal that almost caused the collapse of the Philippine stock market in 1999.
The court found Johnny Yap, then president of Solar Securities Inc., a stockbroker, guilty of stock manipulation of the shares of BW Resources Corp., a listed gaming company, and sentenced him to 14 years in prison and to pay a fine of P1 million.
The evidence presented showed that Yap engaged in the sale and purchase of BW stocks 142 times through parties with common owners. Continue reading “Article: No closure yet for BW scandal”
Investors accuse Elon Musk of market manipulation, launches a new meme cryptocurrency – $STOPELON
Afroz Ahmad, 25 May 2021
On his social media pages, billionaire Elon Musk has repeatedly endorsed cryptocurrencies. However, he seems divided regarding whether he is actually a supporter, especially after the recent market crash.
Many have appreciated his support for digital assets like Dogecoin and bitcoin. On the other hand, many people have accused him of manipulating the crypto market using his position and his huge following. Some crypto enthusiasts want Elon to stop tweeting about the subject, and focus more on building cars instead. As they are running a somewhat campaign against the CEO of Tesla. Continue reading “Article: Investors accuse Elon Musk of market manipulation, launches a new meme cryptocurrency – $STOPELON”
Thomas Dixon, 25 May 2021
“The market is manipulated by big sharks.”
“The price isn’t moving when it should be.”
And a lot more. That’s how people on the internet speak about stock manipulation or market manipulation. But, what is it, really?
What is manipulation?
Psychologically speaking, manipulation is a form of social control that uses indirect, misleading, or underhanded techniques to alter the behavior or opinion of others. Such tactics could be called exploitative and devious since they further the manipulator’s objectives at the cost of others. Continue reading “Article: What is market manipulation?”
Eight arrests in Royal Mail text scam investigation
BBC, 25 May 2021
The suspects were allegedly involved in sending fake messages, primarily posing as Royal Mail and asking people to pay a fee to retrieve a parcel.
The men were arrested in Birmingham, Coventry, London and Colchester, Essex, a specialist unit of the City of London and Metropolitan Police said. A man from London was charged with three offences and the others were released under investigation.
The charged man, from Enfield, will appear at Inner London Crown Court on 21 June. Continue reading “Article: Eight arrests in Royal Mail text scam investigation”
A Ticking Time-Bomb: Tirana’s Property Market Bubble Fueled by Money-Laundering
Tirana Times, 25 May 2021
The average price of residential property in Tirana has more than doubled since 2017. In a recent study which compares price-to income ratio, the capital of Albania was put on par with Munich and Milan. But is it reasonable to view the pricing-out of most prospective homeowners from the market as a negative development? Not necessarily.
Soaring property prices in a specific market are linked to large accumulations of capital, which in a healthy economy come as the result of growth, and the attractiveness of that market to foreign and local investors. The frustration of prospective homebuyers and tenants in Tirana is shared amongst citizens of most European capitals. Continue reading “Article: A Ticking Time-Bomb: Tirana’s Property Market Bubble Fueled by Money-Laundering”
Department of Justice, 25 May 2021
NEW ORLEANS, LOUISIANA – United States Attorney Duane A. Evans announced that LOIS RUSSELL (“RUSSELL”), age 61 of Gibson, Louisiana, TANYA GIVENS (“GIVENS”), age 43, of Gibson, Louisiana; HENRY RANDLE (“RANDLE”), age 64, of Gibson, Louisiana; JOHN DIGGS (“J. DIGGS”), age 60, of Thibodaux, Louisiana; and DAKOTA DIGGS (“D. DIGGS”), age 25, of Ft. Smith, Arkansas, entered a plea of guilty today to Conspiracy to Commit Mail Fraud, in violation of Title 18, United States Code, Section 371, arising out of staged automobile accidents with tractor-trailers occurring in New Orleans.
According to today’s guilty plea, on March 27, 2017, RUSSELL, GIVENS, and J. DIGGS conspired with passenger James “Curtis” Williams (“Williams”) to stage an accident with a tractor-trailer at the intersection of Chef Menteur Highway and Downman Road. Damien Labeaud (“Labeaud”) and Roderick Hickman (“Hickman”), who have already pleaded guilty to staging other accidents, also participated in this accident. Hickman, while driving RUSSELL’s car, intentionally struck the 18-wheeler and then fled the scene with Labeaud. RUSSELL advised NOPD that she was the driver and she, along with GIVENS and J. DIGGS, made claims for personal injuries. In total, the victim trucking and insurance companies paid out $272,500.00 for these fraudulent claims. Continue reading “Article: Five More Plead Guilty to Conspiring to Stage Automobile Accidents in Order to Defraud Insurance and Trucking Companies”
The Bogus “Super Dollars” That Fooled the World for Two Decades
EXPLICA .CO, 25 May 2021
The forgery was so perfect that even US Secret Service experts could not initially determine whether it was real dollars or a copy before them.
Only after a sophisticated forensic analysis were they able to confirm that they were fakes. But those $ 100 bills were so millimeter perfect who nicknamed them “The false superdollars.” They had the same high-tech color change ink as real US dollars.
They were also printed on paper with exactly the same fiber composition as the originals: three-quarters of American cotton and one-quarter of linen. The recorded images were, if anything, finer than those produced by the United States Bureau of Engraving and Printing.
Kirill Kukhmar Even machines were hard to recognize counterfeit. A little variation, then reported the New York Times, which revealed that they were not original. The United States was very alarmed that counterfeits were passing through the banks undetectedas no one could tell the difference.
These “super dollars” circulated around the world in the 1990s and 2000s. During these years, the United States decided to change the design of the US $ 100 bills twice, but counterfeiters managed to adapt.
They appeared in Denmark, France, Austria, Germany, Latvia, Russia, the Czech Republic, and Ireland. Also in Russia.
Traders Shouldn’t Get Prison Time in Spoofing Case, Probation Office Says
Dave Michaels, 25 May 2021
WASHINGTON—Two former Deutsche Bank traders convicted of manipulating precious-metals prices shouldn’t go to prison, federal probation officers recommended, sparking a backlash from prosecutors who sought terms of almost five years or more.
A federal jury in September convicted James Vorley and Cedric Chanu of wire fraud after a two-week trial over their trading of gold and silver on futures exchanges operated by CME Group Inc. Prosecutors alleged the pair engaged in spoofing, a type of rapid-fire market manipulation that traders and regulators say was once rampant in futures markets. Continue reading “Article: Traders Shouldn’t Get Prison Time in Spoofing Case, Probation Office Says”
Macon Utilities customers outraged at spike in natural gas prices from February storms
Michael Steward, 24 May 2021
MACON — A winter storm that pushed several states into crisis, pushed a Missouri county into one of their own. The February polar vortex that collapsed Texas’ power grid and water systems led to a historic increase in natural gas prices.
Macon Utilities, a Missouri company, said they were monitoring the weather, but didn’t anticipate the severity of the storm.
“We were watching the weather with the polar vortex that was happening and we had received alerts that the temperatures were going to be cold,” Stephanie Wilson, General Manager of Macon Utilities, said. “To the severity of wells freezing… because of the temperature — that was not known.” Continue reading “Article: Macon Utilities customers outraged at spike in natural gas prices from February storms”
The National, 24 May 2021
A gold trader in Dubai has been fined a total of Dh1.35 million ($367,597) for eight separate breaches of laws governing money laundering and terrorism financing.
The unnamed company was fined as part of the Ministry of Economy’s extensive inspection campaign into Designated Non-Financial Business and Professions (DNFBPs). DNFBPs are a group of non-financial businesses governed by money laundering rules, and include precious metals dealers, property brokers, auditors and corporate services providers that offer company formation services. Continue reading “Article: Dubai gold trader fined Dh1.35m for failing to comply with anti-money laundering and terrorism financing laws”
Groundbreaking research provides insight into operations of Italian mafias across Europe
Michael Steward, 24 May 2021
A groundbreaking new report by researchers in Essex has provided the first analysis into the expansion of Italian mafias across Europe. The report, published by the University of Essex, highlights how criminal groups embed themselves in countries and operate across borders, and the challenges of policing mafia-type crime.
Using Italy as a starting point, the research focused on seven countries – the UK, Germany, the Netherlands, Belgium, Spain, Romania, and Switzerland. For mafia groups, territories outside Italy are places where they can consolidate certain business or venture into new ones. The report revealed how mafia groups operate very differently in each country. Continue reading “Article: Groundbreaking research provides insight into operations of Italian mafias across Europe”
Royal commission hears money laundering could still be occurring at Crown Resorts
GERARD COCKBURN, 24 May 2021
Continue reading “Article: Royal commission hears money laundering could still be occurring at Crown Resorts”
THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?
