McNulty – Financial Treason & Crime

07/13/2021

Article: British Police Seize $250 Million Of Cryptocurrency In International Money Laundering Crackdown

British Police Seize $250 Million Of Cryptocurrency In International Money Laundering Crackdown

Robert Hart, 13 July 2021

British police have confiscated around $250 million worth of cryptocurrency as part of an ongoing money laundering investigation, London’s Metropolitan Police announced Tuesday, marking one of the largest crypto seizures in the world and breaking a record the force set last month.

The seizure, which follows a $160 million crypto haul the force made three weeks ago, is part of an ongoing investigation into international money laundering by the force’s Economic Crime Command. Continue reading “Article: British Police Seize $250 Million Of Cryptocurrency In International Money Laundering Crackdown”

07/13/2021

Article: London Money Laundering Raid Nets Almost $250 Million in Bitcoin

Article - Media

London Money Laundering Raid Nets Almost $250 Million in Bitcoin

Patricia Claus, 13 July 2021

London’s Metropolitan police seized nearly £180 million ($248,993,100) of bitcoin on Saturday as part of a money laundering investigation.

The seizure, announced on Tuesday, is only the latest in a string of such raids, including the confiscation of £114 million ($157,567,950) of the cryptocurrency last month. Police spokesmen told the press that criminal organizations were using cryptocurrency, including bitcoin, as a way to launder their ill-gotten takings. Continue reading “Article: London Money Laundering Raid Nets Almost $250 Million in Bitcoin”

06/26/2021

Article: U.K Police Seize £114M in Bitcoin Tied to Money Laundering

Article - Media

U.K Police Seize £114M in Bitcoin Tied to Money Laundering

Matthew De Saro, 26 June 2021

Scotland Yard announced the seizure of £114 Million ($158 million) from a suspected money-laundering operation.

The U.K.’s Metropolitan Police announced today the force’s biggest cryptocurrency confiscation to date and one of the largest in the world. The nearly $160 million dollars confiscated are more than double the amount seized by Scotland Yard in all of 2020. The money seized is allegedly tied to a money-laundering ring that officials have been investigating. Continue reading “Article: U.K Police Seize £114M in Bitcoin Tied to Money Laundering”

04/17/201703/18/2021

Article: The London Whale resurfaces: Bruno Iksil speaks out

Article - Media, Publications

The London Whale resurfaces: Bruno Iksil speaks out

Lucy McNulty, 17 April 2017

Bruno Iksil, the former City trader known as the “London Whale”, has spent the past five years at home with his family in France, about 50 miles south of Paris. He runs, cycles or swims each day. He plays card games with his kids and helps with their homework.

But, on January 11, he received a call from his New York lawyers that threatens to upend all that.

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09/15/201003/15/2021

Article: Naked Short Selling Banned By EU

Article - Media, Publications

Naked Short Selling Banned By EU

Global Custodian, 15 September 2010

European Regulators have issued new rules aimed at controlling naked short selling and derivatives trading. Naked short selling, where the investor sells shares short without confirming the availability of the stock, has been banned.

Investors will also be forced to disclose their short position in a firm to regulators if it exceeds 0.2%, and to the market as a whole if it crosses 0.5%. Investors will have to disclose short positions on sovereign bonds, even if the position was obtained using credit default swaps.

The ban on naked short selling by the European Commission will be enforced from July 2012 after approval from the European Parliament. Previously, the seller did not have to prove their ability to obtain the stock. According to todays proposal, in order to “to enter a short sale an investor must have borrowed the instruments concerned, entered into an agreement to borrow them, or have an arrangement with a third party to locate and reserve them for lending so that they are delivered by the settlement date [at the latest 4 days after the transaction].” Continue reading “Article: Naked Short Selling Banned By EU”