money laundering

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Vatican Bank Chief Bounced
 Vatican Bank Chief Bounced  
May 25, 2012 3:47 AM CDT

Vatican Bank Chief Bounced

'I have paid for my transparency,' Ettore Gotti Tedeschi says

(Newser) - The chief of the secretive Vatican bank has been given the boot for allegedly letting standards slip at the institution. Ettore Gotti Tedeschi was forced to resign after the bank's board of directors unanimously passed a no-confidence vote against him for failing "to carry out duties of primary...

Feds Helped Mexican Drug Honcho Move Millions

Transferred cash, drugs across international borders

(Newser) - The New York Times last month revealed that undercover US agents have laundered and smuggled millions of dollars for Mexico's drug cartels—and today the paper shines a light on one such operation, in which federal agents helped one drug trafficker and his Colombian supplier move cash and cocaine...

DEA Launders Money for Mexico Drug Cartels

Critics say laundering helps cartels, blurs sovereignty

(Newser) - One element of the United States' efforts to find and track Mexican drug money is surprising: Undercover US agents have laundered and smuggled millions of dollars for the drug cartels, reports the New York Times . American officials, particularly those with the DEA, say these laundering operations provide invaluable intel, allowing...

Feds: 'Psychic' Family Scammed $40M

Claimed they spoke to God, made a fortune

(Newser) - If only they were real psychics, maybe they would have seen this coming. A Florida family has been indicted for running a psychic advice business that scammed clients out of $40 million over two decades, reports the Miami Herald . In "Operation Crystal Ball," federal prosecutors charged 10 people...

Tom DeLay Gets 3 Years in Money Laundering Scheme

10 years of additional probation for former House majority leader

(Newser) - A judge today ordered former House Majority Leader Tom DeLay, lately of DWTS fame, to serve three years in prison for his role in a 2002 scheme to illegally funnel corporate money to Texas candidates. The sentence comes after a jury in November convicted DeLay on charges of money laundering...

Amid $31M Bank Probe, Vatican Creates Financial Watchdog

New laws will also fight terrorist financing

(Newser) - The Vatican today created a financial watchdog agency and issued new laws to fight money laundering and terrorist financing in a major effort to shed its image as a tax haven that for years has been mired in scandal and secrecy. The decrees, which go into effect April 1, were...

Prosecutors: Vatican Bank Covered for Mafia

Bank hid source of client funds, say officials

(Newser) - The Vatican Bank knowingly hid money for the mafia, breaking money laundering laws in the process, prosecutors allege in documents filed in Italian court. Investigators also suspect that several members of the clergy have acted as fronts for mobbed-up businessmen. The allegations spring from a money-laundering probe into the Church’...

For Tom DeLay, It Was About Power, Not Money
For Tom DeLay, It Was About Power, Not Money
analysis
Nov 26, 2010 1:41 PM CST

For Tom DeLay, It Was About Power, Not Money

Analysis: In that, he's unusual among politicians with rap sheets

(Newser) - Tom DeLay is unusual among politicians with legal trouble because he wasn't going after money—just power. Texas Tribune managing editor Ross Ramsey lays it out an analysis for the New York Times : In step one, DeLay's creative campaign donations helped elect Republican legislators to the Texas House, giving the...

DeLay Verdict May Change Campaign Finance

Prosecutors expected to target corporate fundraising

(Newser) - Prosecutors—and politicians—around the country are paying close attention to Tom DeLay's conviction on money laundering charges . The former House majority leader was found guilty of funneling corporate cash to fellow Republicans, thereby violating Texas laws that ban companies from contributing to candidates' campaigns, and legal experts expect the...

Tom DeLay Guilty of Money Laundering

Former House majority leader faces life in prison

(Newser) - Former House Majority Leader Tom DeLay—once one of the most powerful and feared Republicans in Congress—was convicted today on charges he illegally funneled corporate money to Texas candidates in 2002. Jurors deliberated for 19 hours before returning guilty verdicts against DeLay on charges of money laundering and conspiracy...

Ex-Footballer Faces Caning, Fraud Charges in Singapore

After overstaying visa, former FSU player in more legal trouble

(Newser) - An American citizen who faces caning in Singapore after overstaying his tourist visa has also been charged with fraud, the AP reports. The former Florida State football player was already at risk of being the first American to be caned in Singapore since 1994. Now he’s been slapped with...

Vatican Bank Probed for Money Laundering

$34M in mystery funds frozen by Italian authorities

(Newser) - Italian authorities have frozen $34 million at the heart of a money-laundering probe of the Vatican Bank. Two officials, including the chairman of the institution, are under investigation for failing to disclose the identity of clients linked to the funds, which is required by Italian law. The bank, whose main...

Manuel Noriega Gets 7-Year Sentence

France nails former dictator for laundering drug money

(Newser) - A Paris court today convicted former Panamanian dictator Manuel Noriega of laundering drug money in France in the 1980s and ordered him to spend seven years behind bars—a sentence that comes on top of his two decades already spent in a US prison. The three-judge panel also ordered the...

Big Banks Laundered Money for Mexican Drug Gangs

Wachovia handled $378.4 billion in drug money

(Newser) - Some of the biggest banks in the US have been helping to funnel hundreds of millions of dollars to Mexican drug gangs, Bloomberg reports. Wachovia, for example, has admitted in court that it didn’t do enough to spot the $378.4 billion in drug money the cartels handed off...

Feds Charge 10 With Spying for Russia

Agents were carrying out long-term, undercover assignments

(Newser) - Ten people have been arrested for allegedly serving as secret agents of the Russian government with the goal of penetrating the US government, the Justice Department said today. According to court papers in the case, the US government intercepted a message from Russian intelligence headquarters in Moscow to two of...

Ohio Couple Busted on Terror Charges

Toledo pair accused of funneling cash to Hezbollah

(Newser) - A Lebanese-American Toledo couple was arrested yesterday and accused of attempting to funnel money to Hezbollah. Prosecutors say Hor and Amera Akl researched and pitched 10 ways to sent money to the terrorist group, ultimately plotting to conceal up to $1 million from anonymous US donors in a vehicle and...

Feds Link 68 Fatal ODs to Kansas Clinic

Doc, nurse wife defrauded health plans with illegal prescriptions

(Newser) - A new federal indictment implicates a Kansas doctor and his wife in nine additional patient deaths, bringing to 68 the number of fatal overdoses the government contends are linked to illegal prescription writing and a moneymaking conspiracy at their clinic. Dr. Stephen Schneider, his wife Linda, who is a nurse,...

Banker for Drug Gangs, Al-Qaeda Nailed

Dubai-based banker helped shift money launder funds

(Newser) - One of al-Qaeda's favorite bankers has been busted in India after a year-long manhunt. Naresh Jain is accused of running a worldwide money laundering empire from his Dubai headquarters that handled over $2 billion a year from terrorist groups and drug traffickers, the Independent reports.

Ex-Rep. Jefferson Sentenced to 13 Years
 Ex-Rep. Jefferson 
 Sentenced to 
 13 Years  
cold hard cash
Nov 13, 2009 5:19 PM CST

Ex-Rep. Jefferson Sentenced to 13 Years

Pol busted with $90K in freezer betrays little emotion

(Newser) - A federal judge sentenced former Congressman William Jefferson to 13 years in prison today, less than the 27-plus years prosecutors called for but more than the 10-year term the Louisiana Democrat's lawyer wanted. Jefferson, who was convicted in August of 11 of the 16 counts relating to the public corruption...

Ex-Taiwan Prez Convicted of Corruption, Sentenced to Life

Chen Shui-bian and wife both found guilty of embezzlement, taking bribes

(Newser) - The former president of Taiwan was convicted of corruption and sentenced to life imprisonment today, marking a watershed event in the island's turbulent political history. Chen Shui-bian, president from 2000 to 2008, was charged with embezzling $3.15 million from a special presidential fund, receiving bribes worth at least $9...

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