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Ed Martin, a former autoworker who was eventually charged with running an illegal gambling business and laundering money, admitted to lending $616,000 to four Michigan players in the 1980s and '90s.
In 2001, International Boxing Federation founder Robert W. "Bobby" Lee Sr. was convicted of money laundering and tax evasion, following a three-year long investigation of racketeering and bribery at the organization. Tampered handwraps controversy of 2009 resulting in the suspension of Antonio Margarito
On 16 November 2015, Alejandro Burzaco, the former general manager and chairman of the board of Torneos y Competencias S.A., an Argentinian sports marketing company, pleaded guilty to racketeering conspiracy, wire fraud conspiracy and money laundering conspiracy. As part of his plea, Burzaco agreed to forfeit more than $21.6 million. [100]
Mark Riddell, a Harvard alumnus and college admission exam preparation director at IMG Academy, was one of the stand-in test takers who took over two dozen exams; he pleaded guilty to one count of conspiracy to commit mail fraud and honest services mail fraud and one count of money laundering, and agreed to cooperate with investigators.
(Reuters) -A U.S. appeals court has halted enforcement of an anti-money laundering law that requires corporate entities to disclose the identities of their real beneficial owners to the U.S ...
High school football enthusiasts who want to place a bet on a big game have no choice but to turn to an offshore site. Accepting a wager on high school sports is outlawed in Nevada and other U.S ...
Involvement in professional sports, by sponsorship or ownership, is a prominent activity used for reputation laundering. Examples include the creation of Formula 1 car races in Qatar and Saudi Arabia, [8] ownership of Chelsea F.C. by Roman Abramovich, [9] and ownership of the Newcastle United football club by Saudi Arabian investors. [10]
The registration is part of the Corporate Transparency Act, an anti-money laundering statue passed in 2021. Under the CTA, the owners and part-owners of an estimated 32.6 million small businesses ...