Category: Money Laundering

Fraud Trial to Begin for Chinese Billionaire Who Allied Himself With America’s Right

Charged with defrauding thousands of investors in the U.S. and overseas of more than $1 billion, Guo Wengui could face decades in prison.
Binance Founder Sentenced to Four Months in Prison

Changpeng Zhao, the founder and former chief executive of the Binance cryptocurrency exchange, had pleaded guilty to a money-laundering violation.
Binance’s Founder Plans a Comeback Even as He Faces Prison Time

Since pleading guilty to violating money-laundering rules, Changpeng Zhao, who ran the giant crypto exchange Binance, has networked across the United States to set up his next act.
Binance Founder Should Get Three Years in Prison, Prosecutors Say

Defense lawyers for Changpeng Zhao, the founder of the crypto exchange Binance, countered that he should receive no prison time.
How a Crypto Compliance Officer Ended Up in a Nigerian Prison

Tigran Gambaryan, an American compliance official for the giant cryptocurrency exchange Binance, flew to Nigeria in February for a planned two-day business trip. He hasn’t returned.
How Sam Bankman-Fried’s Sentence Compares With Other White-Collar Cases

Here’s how the former crypto mogul’s 25-year sentence stacks up against the prosecutions of Michael Milken, Bernie Madoff and others.
Judge Rules Against Corporate Transparency Act Disclosure Provision

An Alabama judge barred the government from collecting certain company ownership data to help the Treasury Department identify money launderers, and called the effort a case of congressional overreach.
Binance Founder Ordered to Remain in U.S. Before Sentencing

Changpeng Zhao, better known as CZ, faces as much as 18 months in prison after he pleaded guilty to federal money-laundering violations.
Why Lobbyists Are Still Fighting Congress on Money Laundering

A law to require disclosure of corporate ownership takes effect Jan. 1. Small businesses and banks say it would be too burdensome and are turning to lobbying and the courts to delay or block it.
U.S. Case Details Binance’s Knowledge About Criminal Users

The crypto exchange treated them as essential customers, the government said. U.S. authorities want the industry to understand how bad that is for business.
Binance Founder Changpeng Zhao Pleads Guilty to Money Laundering Violations

Changpeng Zhao will pay a $50 million fine and step down as chief executive of the company he created, the latest blow to the crypto world since the implosion of FTX last year.
Why Banks Are Suddenly Closing Down Customer Accounts

Surprised individuals and small-business owners can’t pay rent or make payroll, and no one ever explains what they did wrong.