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(Reuters) - U.S. authorities charged two Chinese nationals in a cryptocurrency scam that laundered at least $73 million from defrauded victims, the Justice Department said on Friday.
In 2005, Lewis pleaded guilty to mail fraud and money laundering. HOUSTON - JUNE 24: Robert Allen Stanford arrives for a bond hearing at the Bob Casey Federal Courthouse June 25, 2009 in Houston ...
Scams cost Americans an estimated $159 billion every year and average about $3,500 in losses per victim. The CyberGuy has advice to protect yourself. How cyberscams are draining Americans wallets ...
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.
Robert Allen Stanford (born March 24, 1950) is a convicted financial fraudster, former financier, and sponsor of professional sports. He was convicted of fraud in 2012, having operated an eight billion dollar Ponzi scheme, [1] [2] [3] and is now serving a 110-year federal prison sentence.
Christopher Steven Kirchner (born August 1987) [2] is an American entrepreneur and convicted fraudster. The co-founder and former CEO of logistics company Slync.io, he was convicted on fraud and money laundering charges in January 2024.
Around 15% of American households fell victim to a financial scam in 2023. American consumers lost a total of $8.8 billion to fraud and scams in 2022. Scams are everywhere these days, and...
The foundation for much of what we now know as anti-money laundering (AML) originated in 1970 with a piece of U.S. legislation that went largely ignored for a decade: the Bank Secrecy Act. This ...