Global Stocks Slip as Inflation Remains in Focus
Patricia Kowsmann and Xie Yu, 31 May 2021
Global stock markets were mixed Monday as investors wrapped up a month of trading dominated by concerns over inflation and the pace of the international economic recovery.
Trading was light with holidays in the U.S. and the U.K. S&P 500 stock futures were little changed Monday.
In Europe, Germany’s DAX index slid 0.2%, dragged by Deutsche Bank shares, which fell 1.6%. The Wall Street Journal reported Sunday that the Federal Reserve told the bank in recent weeks that it is failing to address persistent shortcomings in its anti-money-laundering controls, according to people familiar with the matter. Continue reading “Article: Global Stocks Slip as Inflation Remains in Focus”
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”
Police Across Europe Crush Ponzi Schemes, Recover Lost Money
ZDRAVKO LJUBAS, 18 May 2021
Authorities in Europe have dismantled several investment fraud schemes across the continent and recovered some of the money victims lost. Confiscation of proceeds from crimes is a strategic priority of the European Union, Europol said.
With the help of U.K. law enforcement and Europol, Spanish police recovered some of the over 15 million euro (US$18,2 million) hundreds of victims had lost in a ponzi scheme after a Spanish national living in the U.K. tricked them into making seemingly safe investments with high returns.
Police recovered about six million euro ($7,28 million) or some 40 percent of the money people invested, according to Europol. Continue reading “Article: Police Across Europe Crush Ponzi Schemes, Recover Lost Money”
European police bust major online investment fraud ring
Amer Owaida, 13 May 2021
Europol and several national law enforcement agencies have teamed up to take down an investment fraud and money laundering ring that caused losses of approximately €30 million (US$36 million) to hundreds of victims, according to a press release by the European Union’s law enforcement agency.
The investigation led to the arrest of 11 suspects and involved the search of dozens of locations across Europe and Israel with law enforcement officers seizing a range of ill-gotten gains including jewels, real estate, high-end vehicles and some €2 million (US$2.4 million) in cash. The effort was spearheaded by German law enforcement authorities and supported by their peers from Bulgaria, Israel, Latvia, North-Macedonia, Poland, Spain, and Sweden. Continue reading “Article: European police bust major online investment fraud ring”
John McAfee Indicted On Fraud, Money Laundering Charges In Pump-And-Dump Crypto Scheme
Rachel Sandler, 05 March 2021
John McAfee was indicted on securities fraud and money laundering charges, the Justice Department announced Friday, adding to the antivirus software pioneer’s litany of legal problems stemming from more than a decade of sometimes bizarre behavior.
McAfee and an advisor of his cryptocurrency team, Jimmy Watson Jr., were indicted on several counts of conspiracy to commit commodities and securities fraud, wire fraud conspiracy and money laundering conspiracy offenses.
Prosecutors say McAfee and his cryptocurrency team used his Twitter account, which has a million followers, to promote Initial Coin Offerings without disclosing he was being paid by the ICO issuers to do so. Continue reading “Article: John McAfee Indicted On Fraud, Money Laundering Charges In Pump-And-Dump Crypto Scheme”