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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]
Edward Ormus Sharrington Davenport [1] (born 11 July 1966) is a convicted English fraudster, [2] [3] socialite, and property developer. [4]The self-styled 'Lord', [5] [6] [7] nicknamed "Fast Eddie" [5] [6] came to prominence in the late 1980s as the organiser of the controversial Gatecrasher Balls for wealthy teenagers.
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 slush fund is a fund or account used for miscellaneous income and expenses, particularly when these are corrupt or illegal. [1] Such funds may be kept hidden and maintained separately from money that is used for legitimate purposes.
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.
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.
1MDB scandal was a large corruption, bribery and money laundering scandal which began in 2009 in Malaysia but became global in scope and was exposed in 2015. It was as described as "one of the world's greatest financial scandals" [ 1 ] [ 2 ] and declared by the United States Department of Justice as the "largest kleptocracy case to date" in 2016.