Featured Americas

Venezuela seeks to repatriate $550 million of gold from Britain – sources

Venezuela is seeking to repatriate about $550 million (423 million pounds) in gold bars from the Bank of England because of fears it could be caught up in international sanctions on the country, two sources with direct knowledge of the effort told Reuters. Venezuela’s hard currency holdings have dwindled as… Read More

Ex-Swiss banker jailed over billion-dollar global money laundering scheme

A former top executive at a Swiss bank has been sentenced to 10 years in prison and ordered to pay up over half a million dollars following an investigation into an international money laundering scheme. According to the US department of Justice, Matthias Krull, who was the managing director and… Read More

Deutsche to scrap Mexican sale previously stalled by money laundering allegations

A deal between Deutsche Bank and Mexican bank Accendo Banco that had stalled over money laundering allegations will not proceed although the accusations have been dropped. According to Reuters, Deutsche is planning to scrap an agreement to sell its Mexican assets to Accendo, but has not give an explanation, saying… Read More
6th November 2018
Venezuela is seeking to repatriate about $550 million (423 million pounds) in gold bars from the Bank of England because of fears it could be caught up in international sanctions on the country, two sources with direct knowledge of the effort told Reuters. Venezuela’s hard currency holdings have dwindled as… Read More
1st November 2018
A former top executive at a Swiss bank has been sentenced to 10 years in prison and ordered to pay up over half a million dollars following an investigation into an international money laundering scheme. According to the US department of Justice, Matthias Krull, who was the managing director and… Read More
31st October 2018
A deal between Deutsche Bank and Mexican bank Accendo Banco that had stalled over money laundering allegations will not proceed although the accusations have been dropped. According to Reuters, Deutsche is planning to scrap an agreement to sell its Mexican assets to Accendo, but has not give an explanation, saying… Read More
29th October 2018
Far-right lawmaker Jair Bolsonaro won Brazil’s presidential election on Sunday, promising to clean up politics, shrink the state and crack down on crime, in a dramatic swing away from the left in the world’s fourth-largest democracy. The former army captain, with close ties to the military, has alarmed many with… Read More
16th October 2018
AP — A Jamaican man who authorities said masterminded a lottery scam that defrauded at least 95 Americans out of more than $5.8 million was sentenced Monday to six years in federal prison. Lavrick Willocks, 29, operated the scam out of a Jamaica mansion where he… Read More
11th October 2018
AP — Across Latin America, prosecutors have been pressing charges in recent years against politicians accused of corruption in the scandal involving Brazilian construction giant Odebrecht, which admitted to paying $800 million in bribes in the region. Not in Mexico. Evidence that could shed light on bribes paid… Read More
9th October 2018
The US Treasury’s Office of Foreign Assets Control (OFAC) has reached a $5,263,171 settlement with JPMorgan Chase Bank (JPMC) over violations pertaining to sanctions, covering Iran, the Cuban assets control rules and weapons of mass destruction proliferators. The transactions were net settlement payments, of which a ‘very small portion’… Read More
28th September 2018
AP — Brazil’s state oil company Petrobras said Thursday it had agreed to pay more than $850 million in penalties for bookkeeping violations related to bribes to Brazilian politicians and political parties. Petrobras said in a securities filing that the penalties total $853.2 million. It said… Read More
13th September 2018
An El Salvador tribunal sentenced former President Antonio Saca to 10 years in prison on Wednesday after he pleaded guilty to embezzlement and money laundering charges involving more than $300 million of public funds. Saca, 53, pleaded guilty to the charges last month. His lawyer said at the time that… Read More
10th September 2018
Europe needs a single agency to tackle money laundering, European Central Bank board member Benoit Coeure said on Friday after recent cases at European Union banks that have exposed gaps in the bloc’s ability to prevent financial crime. “We support any initiative that leads to a more harmonized and… Read More
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Key points in the draft EU-UK Brexit deal

AP — The draft divorce agreement between Britain and the European Union has two parts: a legally binding withdrawal agreement, which runs more than 580 pages, and a looser political declaration on future relations. Some key points: WITHDRAWAL AGREEMENT Transition period: Britain will leave the EU… Read More

Danske money laundering scandal is ‘tip of iceberg’, whistleblower’s lawyer says

Danske Bank’s (DANSKE.CO) 200 billion euro ($225 billion) money laundering scandal might be the “tip of the iceberg” and investigators should examine whether major Western banks played a role, a lawyer for the whistleblower said. Stephen Kohn, a partner at U.S. law firm Kohn, Kohn and Colapinto who is representing… Read More