Search Results for: financial fraud

The United Nations Office on Drugs and Crime (UNODC) released a report on Monday, revealing that Asian crime syndicates have increasingly integrated service-based business models and advanced technologies — including malware, generative artificial intelligence (AI), and deepfakes — into their operations alongside the establishment of new underground markets and cryptocurrency solutions for money laundering. The [...]

New York City Mayor Eric Adams was indicted Thursday for impermissibly soliciting and accepting donations from foreign agents in exchange for political favors, as well as illegally obtaining public funds through the guise of small donor campaign contributions. The 57-page indictment accuses Adams of accepting benefits from Turkish foreign nationals that included plane tickets, hotels, [...]

The first investigative judge in Beirut, Lebanon, ruled on Monday that the former governor of Lebanon’s central bank (BDL), Riad Salameh, will remain in detention as investigations into corruption charges continue, local media reported. The judge issued an arrest warrant against Riad Salameh after his interrogation session concluded. Riad Salameh was the head of Lebanon’s [...]

Former US Representative for New York’s Third Congressional District George Santos pleaded guilty to wire fraud and aggravated identity theft on Monday. The US Attorney’s Office for the Eastern District of New York said that from June 2020 to April 2021, Santos fraudulently claimed to be unemployed to obtain federal unemployment assistance during the COVID-19 [...]

Slovakia’s national parliament backtracked on its controversial criminal code following concerns from the European Union, with 77 deputies voting in favor of new amendments on Tuesday. This change comes after Slovakia’s Constitutional Court deemed some of the most contested amendments to the criminal code constitutional. Slovakia’s Minister of Justice, Boris Susko, stated in a press [...]

INTERPOL announced an anti-financial crime operation targeting West African organized crime groups across five continents on Tuesday, leading to the arrests of 300 people. Police seized $3 million in illegal assets, including cryptocurrencies, and blocked 720 bank accounts. Operation Jackal III ran from early April to July 3, 2024 and pursued online financial fraud. There [...]

The Tunis Court of Appeal Specializing in Financial Corruption Cases has issued arrest warrants against Tunisian businessman and former MP Lotfi Ali, as well as the former CEO of the Gafsa Phosphate Company (CPG), Romdhane Souid, TAP reported Saturday.  Speaking to TAP, Deputy Attorney General Sonia Moussaoui confirmed the issue of the arrest warrants, and [...]

The United States Bankruptcy Court on Friday dismissed the Chapter 11 bankruptcy case of former New York City mayor and Trump lawyer Rudolph Giuliani, citing his ongoing failure to comply with financial disclosure obligations. Giuliani filed for Chapter 11 bankruptcy in December 2023, citing financial strain from a $148 million defamation judgment. This judgment stemmed [...]

The Tunisian Federation of Insurance Companies (TFIC) announced to the local media Monday the creation of the Agency to Combat Fraud and Scams (ALFA) in the insurance sector. This decision was shared with the public via a social media post. The ALFA’s aim is to tackle the increasing issues of fraud and scams within the [...]

Sharon Basch is a rising 3L at the University of Pittsburgh School of Law and a JURIST staff correspondent in Washington DC this summer.  Wednesday morning I attended a US Senate Budget Committee hearing entitled “Making Wall Street Pay its Fair Share: Raising Revenue, Strengthening Our Economy.” The hearing was called to discuss tax policy [...]