Latest Money laundering News

Treasury wants more oversight of all-cash real estate deals

Dec. 06, 2021 07:02 AM EST

WASHINGTON (AP) — The Biden administration is looking to expand reporting requirements on all-cash real estate deals to help crack down on bad actors' use of the U.S. market to launder money made through illicit activity. The Treasury Department was posting notice...

Facing trial, California couple plead guilty in college scam

Dec. 01, 2021 19:48 PM EST

BOSTON (AP) — A California couple accused of paying $25,000 to cheat on their son's college admissions test abruptly agreed to plead guilty on Wednesday, six weeks before they were set to go on trial in federal court. Dr. Gregory Colburn, 63, and Amy Colburn, 61, of...

Caddo Parish Commission appoints Jones to fill vacated seat

Dec. 01, 2021 11:30 AM EST

SHREVEPORT, La. (AP) — A Louisiana pastor is the newest member of the Caddo Parish Commission, the parish's governing authority. Commissioners on Monday selected Steffon Jones, on an interim basis, to fill the District 6 seat left vacant by Lynn Cawthorne, who resigned...

Man accused of using relief funds on Lamborghini gets prison

Nov. 30, 2021 09:31 AM EST

HOUSTON (AP) — A Houston man has been sentenced to more than nine years in prison after he was accused of using federal COVID-19 relief funding on a Lamborghini, a Rolex watch and trips to strip clubs, federal prosecutors said. Lee Price III, 30, was sentenced Monday to...

German police smash cocaine ring accused of smuggling tons

Nov. 30, 2021 07:49 AM EST

BERLIN (AP) — German investigators said 14 suspects were arrested Tuesday in an investigation of a gang accused of bringing nearly five metric tons (5.5 U.S. tons) of cocaine from South America to Germany. The investigation was triggered by the seizure in a shipping...

Former Brazil Olympic boss sentenced to jail for corruption

Nov. 26, 2021 10:51 AM EST

SAO PAULO (AP) — Carlos Arthur Nuzman, the head of the Brazilian Olympic Committee for more than two decades, was sentenced to 30 years and 11 months in jail for buying votes for Rio de Janeiro to host the 2016 Olympics. The ruling by Judge Marcelo Bretas became public...

California man gets prison for Bitcoin money laundering

Nov. 19, 2021 11:22 AM EST

SANTA ANA, Calif. (AP) — A Southern California man was sentenced to three years in federal prison for operating an unlicensed business that exchanged at least $13 million in Bitcoin and cash, the U.S. Attorney’s Office said. Hugo Mejia, 50, of the city of Ontario...

Man gets prison for exchanging currency for drug dealers

Nov. 18, 2021 20:50 PM EST

SANTA ANA, Calif. (AP) — A Southern California man was sentenced Thursday to three years in federal prison for operating unlicensed businesses that illegally exchanged millions of dollars in Bitcoin and cash, often for drug dealers, prosecutors said. Hugo Sergio Mejia,...

Accused marijuana ring leader pleads not guilty

Nov. 18, 2021 12:40 PM EST

BANGOR, Maine (AP) — The accused ring leader of an operation that allegedly diverted and sold more than $13 million in marijuana grown for Maine’s medical cannabis program pleaded not guilty Thursday to eight charges. Lucas Sirois, 41, of Farmington, was arraigned in...

Swiss banks faulted over money laundering tied to Venezuela

Nov. 18, 2021 12:20 PM EST

GENEVA (AP) — Switzerland's financial markets watchdog on Thursday said it has reprimanded and set restrictions on two Swiss banks for violating their obligation to fight money laundering in connection with clients in Venezuela, notably with links to state-run oil giant PDVSA. ...