WA gambling watchdog ‘ineffective’ in face of money laundering risk
Hannah Wootton, 19 May 2021
The Western Australia gambling watchdog’s board “regularly discussed” the threat of money laundering in Crown’s Perth casino but did not feel it had “the resources or authority” to investigate it itself, a royal commission heard on Wednesday.
The Gaming and Wagering Commission instead relied on AUSTRAC, WA Police and the Federal Police to stop any possible illegality on its watch, despite not knowing how these law enforcement agencies actually did so. Continue reading “Article: WA gambling watchdog ‘ineffective’ in face of money laundering risk”
Hargreaves Lansdown faces legal action over Woodford fund
Pedro Gonçalves, 22 March 2021
RGL Management has formally launched legal action against Hargreaves Lansdown, which continued to recommend Woodford Equity Income to its clients right up until its suspension in June 2019, even though its analysts raised concerns in 2017.
RGL Management has taken legal action against both Hargreaves Lansdown Asset Management and Link Fund Solutions, the fund’s authorised corporate director, as it was first reported by This Is Money and The Times.
The claims will centre around losses sustained directly as a result of the collapse of WEIF and also for “loss of opportunity” losses, suffered through missing out on alternative investments that, in contrast to WEIF, would have generated positive returns. Continue reading “Article: Hargreaves Lansdown faces legal action over Woodford fund”
Prosecutor: Alleged money launderer Ian Freeman holds $1.6 million in Bitcoins
Mark Hayward New Hampshire Union Leader, 19 March 2021
CONCORD — Free-Keene leader Ian Freeman has accessed $1.66 million worth of Bitcoins and had $178,000 in cash in his safe when his house was raided by federal authorities this week, prosecutors said on Friday.
Federal prosecutors also said Freeman has access to gold, silver, and possibly other liquid assets and cryptocurrencies. Freeman — who faces eight felony charges including money laundering, wire fraud and conspiracy — could tap those assets and use them to flee if a judge releases him on bail, prosecutors warned.
Assistant U.S. Attorney Georgina MacDonald voiced those concerns during an hour-plus bail hearing streamed live Friday from U.S. District Court in Concord.
The hearing ended with Judge Magistrate Andrea Johnstone deferring a decision and promising a written order as soon as possible.
On Tuesday, the FBI arrested Freeman and five others who are part of the libertarian Free Keene movement on charges related to a Bitcoin-dollar exchange system they ran through churches they were closely affiliated with.
Freeman is the only one to face charges of money laundering and operating a continuing financial crimes enterprise, which call for mandatory minimum sentences of 10 years.
MacDonald termed Freeman a sophisticated cybercriminal.
Close to 70 people, including media, FBI agents and some with cryptic names, logged on for the hearing. Freeman participated via video feed from Merrimack County jail.
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