The Second Coming of The Wolf of Wall Street?
Did the Wolf of Wall Street come in like a lion and go out like a lamb or is it back with a pack, and seeking revenge? You’d think that after bringing the global economy to its knees just a few years ago, that Wall Street would have cleaned up its act. But not according to […]
Caribbean-Based Investment Advisor Nabbed for Using Offshore Accounts to Launder Funds
For those of you who might be wondering, the cartoon-image that accompanies this blog is not meant to portray any of the defendants in this case. However, that does not mean that it is there for no apparent reason. On the contrary, it is intended to represent someone (or perhaps some people). I’ll give you […]
Bankruptcy Fraud: A Little-Known Crime That Packs A Powerful Punch
Bankruptcy fraud is a white-collar crime. It can occur in a variety of different ways. Violations run the gamut, from concealing assets, to intentionally falsifying forms, to filing or using inaccurate information of others, to bribing a trustee appointed by the courts. These actions usually occur in tandem with identity theft, mortgage fraud, money laundering, […]
FedEx Faces Federal Indictment Over Alleged Role In Conspiring To Traffic Controlled Substances & Prescription Drugs
A federal grand jury in San Francisco Thursday indicted FedEx Corporation, FedEx Express, Inc. and FedEx Corporate Services Inc. with conspiracies to traffic in controlled substances and misbranded prescription drugs for its role in distributing controlled substances and prescription drugs for illegal Internet pharmacies. According to the indictment, beginning in 1998, Internet pharmacies began offering […]
Don’t Get Snared in Any of the Three Stages of Money-Laundering
“Money laundering generally refers to financial transactions in which criminals, including terrorist organizations, attempt to disguise the proceeds, sources or nature of their illicit activities.”…U.S. Department of Treasury Website Law enforcement and financial regulators everywhere are on the lookout for money laundering. Big corporations and financial institutions hire compliance experts, and those experts cooperate fully […]
White Collar Crime: Entrapment and Ignorance of the Law Can Snare the Unwary
The most common white-collar offenses run the gamut of nonviolent crimes from antitrust violations to money laundering. The FBI estimates that white-collar crime costs the United States more than $300 billion annually. These estimates do not take into account cases where aggressive and ambitious prosecutors snare an unwary person, who eventually pleads guilty in the […]
LIFTING THE VEIL ON THE BLACK MARKET PESO EXCHANGE — PART II: THE MECHANICS
The BMPE consists of two interrelated activities. One occurs in Colombia: the purchase of accumulated drug dollars in America. And the other occurs in the United States: the actual delivery of drug dollars to the money exchanger’s associate in the United States. 1. Purchase of Dollars in Colombia The BMPE process begins when the cartel […]
LIFTING THE VEIL ON THE BLACK MARKET PESO EXCHANGE — PART I
Picture this. The date is July 2, 1991. You walk into a cavernous room that is half the size of a football field. Inside that room are rectangular tables that extend from one side of the room to the other. Piled upon these tables are stacks of United States dollars. The stacks are as high as […]