Category: Money Laundering

Trump’s Venezuelan Oil Deal Relies on a Powerful and Divisive Partner

The New York Times – Business:
The administration will work with a private Venezuelan oil company that has close ties to the country’s government.
Four Years Ago, a Crypto Boss Went Missing. Now His Successor Has.

The New York Times – Business:
The mysterious collapse of a European cryptocurrency exchange helps to explain why the industry hasn’t shaken off its reputation as a magnet for criminals.
Two Binance Employees Detained in the U.A.E. Amid Police Inquiries

The New York Times – Business:
The detentions of the workers, who have been released, are a sign of legal pressure that the world’s largest crypto exchange faces in the Emirates, which is home to its main regulator.
Treasury Scales Back Scrutiny of U.S. Shell Companies

The New York Times – Business:
The Trump administration will not enforce reporting requirements of the 2021 Corporate Transparency Act, which was intended to crack down on money laundering.
Trump Crypto Took $100 Million From a Businessman With Red Flags

The New York Times – On the Runway:
The curious case of Guren “Bobby” Zhou shows the ease with which investors with shady backgrounds and unknown motivations can funnel money to the president.
Binance Under Fire After Reports That $1.7 Billion in Crypto Flowed to Iran

The New York Times – Business:
The world’s largest crypto exchange is under fire after investigators found accounts moving $1.7 billion to Iranian entities. Clues about those accounts were in plain sight for over a year.
In a Memoir Draft, Changpeng Zhao of Binance Details the Talks Leading to His Prison Time

The New York Times – Business:
In a draft of his memoir, Changpeng Zhao, the founder of Binance, laid out the secret negotiations that led to his imprisonment and a run-in with ICE.
Senator Blumenthal Opens Inquiry Into Iran Transactions on Binance

The New York Times – Business:
Senator Richard Blumenthal of Connecticut sent a letter to Binance asking about the flow of $1.7 billion from accounts on the crypto exchange to Iranian entities.
Binance Pledged to Crack Down on Crime. Its Employees Found Potential Violations.

The New York Times – Business:
Internal Binance investigators traced $1.7 billion that flowed from accounts on the exchange to entities linked to Iran, according to company records and other documents.
Dutch Prosecutors Fine Louis Vuitton Netherlands in Money Laundering Case

The New York Times – Business:
The Dutch subsidiary of the luxury brand agreed to pay a nearly $600,000 settlement in a money laundering and terrorism financing case.
The Crypto Industry’s $28 Billion in ‘Dirty Money’

As President Trump has championed crypto and the industry has gone mainstream, funds from scammers and other criminal groups have flowed onto major crypto exchanges.
JPMorgan Alerted U.S. to Epstein Transfers Involving Wall St. Figures

After Jeffrey Epstein’s 2019 death, the bank reported more than $1 billion in potentially suspicious transactions.