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On 6 April 2023, Italy confiscated a mansion owned by Maikel Moreno, registered in the name of his wife Debora Menicucci, with a value equivalent to 6 million dollars, as the result of an investigation by the Guardia di Finanza on an alleged case of money laundering in the purchase of the villa. [19] [20] [21]
The financial loss to Graff Diamonds was more than US$10 million (£6.6 million). The actual value of the pieces for insurance purposes, was put at $39 million (£26 million). But according to Nicholas Paine, the company secretary, the syndicate that insured Graff was only liable for $28.9 million. [11]
The value of the fraud was said by prosecutors to be at least £12 million. Victims included Elizabeth Emanuel, who lost her savings after being promised a £1 million loan. [32] An Indian businessman paid £285,000 to finance a €183 million loan but suffered "crippling losses" of £825,000 after no money arrived, leaving him owing €11 million.
The Ohio nuclear bribery scandal (2020) is a political scandal in Ohio involving allegations that electric utility company FirstEnergy paid roughly $60 million to Generation Now, a 501(c)(4) organization purportedly controlled by Speaker of the Ohio House of Representatives Larry Householder in exchange for passing a $1.3 billion bailout for the nuclear power operator. [1]
A Rolls-Royce Dawn vehicle seized by police at a residence of Su Jiafeng, one of the suspects in the S$2.8 billion money-laundering case, in Singapore, on Wednesday, Oct. 25, 2023.
Money laundering is the process of illegally concealing the origin of money obtained from illicit activities (often known as dirty money) such as drug trafficking, underground sex work, terrorism, corruption, embezzlement, and treason, and converting the funds into a seemingly legitimate source, usually through a front organization.
[6] The indictment, unsealed on May 28, charges the seven principal employees, as well as Liberty Reserve itself, with money laundering and operating an unlicensed money transmitting business, and seeks $25 million in damages. [3] The charges were leveled using a provision of the Patriot Act, since Liberty Reserve was not an American company. [2]
The documents included a formal charge of money laundering by Swiss authorities against Zardari. The Pakistani government had been conducting a wide-ranging inquiry to account for more than $13.7 million frozen by Swiss authorities in 1997 that was allegedly stashed in banks by Bhutto and her husband.