A professional football club or clubs are being investigated over allegations of money laundering, a minister has said. Security minister Ben Wallace told the treasury select committee that the sports industry "is as susceptible as anything else" to being used to hide the source of dirty money.Committee member and Labour MP John Mann asked Mr Wallace: "When it comes to money laundering, how many professional football clubs have been deemed as requiring investigation currently?"The minister replied: "I know of (a) professional football club or clubs under investigation."I couldn't reveal how many and what they are, for that is an operational matter."When he was pushed to give the number involved, Mr Wallace said: "There are live investigations that go on all the time and to expand any more could threaten investigations."The sports industry is as susceptible as anything else to dirty money being invested or their organisations being used as a way to launder money."Mr Wallace told the … [Read more...] about Security minister reveals knowledge of football money-laundering investigation
How do criminals launder money
GOLDEN passport schemes threaten security in Britain and across Europe, chiefs have warned. Intelligence agencies are said to be concerned some countries are selling citizenship to "dangerous" wealthy people from Russia, the Middle East and China. What are golden passports? Countries around the world operate schemes offering citizenship or long-term residency in return for "investments". They effectively allow wealthy individuals to buy a passport or visa, typically for hundreds of thousands of pounds. Several Caribbean nations do it as a way to raise money for the government, and there are similar schemes in Malaysia, South America, the Middle East and the South Pacific. It has emerged some EU countries offer versions of the controversial scheme. For example Malta's "individual investor programme" offers citizenship in return for a €650,000 (£572,000) contribution to the country's development fund and €150,000 (£132,000) investment in government bonds. New … [Read more...] about What are golden passports and how do they enable tax dodging and threaten security?
News / UK and world by Press Association September 25, 2018, 4:41 pm FacebookTwitterLinkedInWhatsAppEmail Sign up to our Daily newsletter A single mother who helped her corrupt banker brother launder more than £2 million in bribes has been spared jail to look after her children – after falling pregnant again. Tatjana Sanderson, 39, who is expecting her fourth child, let Channel Island accounts in her name be used to bank the money for Anglo-Russian sibling Andrey Ryjenko, Last June Ryjenko, 45, was jailed for six years after he was convicted of taking backhanders while working for the European Bank for Reconstruction and Development (EBRD). Sanderson last month pleaded guilty to concealing, converting or transferring criminal property between September 2007 and March 2010, following a long-running bribery case which led to convictions in Britain and the United States. The Old Bailey heard the laundered money has been seized and remains in bank … [Read more...] about Corrupt banker’s sister spared jail for her part in laundering bribes
DONALD Trump's Presidential campaign manager and longtime personal fixer have been found guilty in court. But what laws did they break, who are they, and who else has been jailed? Here's our lowdown... Paul Manafort Paul Manafort was Donald Trump's campaign Chairman from June 20 2016 to August 17 2016. The charges against him include: conspiracy against the United States, conspiracy to launder money, failure to file reports of a foreign bank and financial accounts and being an unregistered agent of foreign principal. Manafort was found guilty of five tax fraud charges, one charge of hiding foreign bank accounts and two counts of bank fraud. The charges carry a maximum of 80 years in prison. Michael Cohen In August 2018 Trump's former lawyer Michael Cohen admitted breaching campaign finance regulations by paying two women for their silence over alleged affairs "at the direction of US president" yesterday. The New York attorney, 51, told a court he arranged payments ahead of the 2016 … [Read more...] about How many of Donald Trump’s closest advisers have been convicted and who are they?
(The Conversation is an independent and nonprofit source of news, analysis and commentary from academic experts.) Nir Kshetri, University of North Carolina – Greensboro (THE CONVERSATION) Cryptocurrencies like bitcoin are based on systems that are supposed to be inherently protected from fraud. Yet the U.S. Department of Justice has opened a criminal investigation into manipulation of bitcoin prices. How is that sort of activity even possible? From researching blockchain and cryptocurrencies for the past three years, I know that blockchain systems have some immutable security features. For instance, if I sent you some amount of bitcoin, and that transaction were recorded in the blockchain ledger, I couldn’t force the system to give that money back. The technology itself prevents the transaction from being reversed. But that is only true if transactions happen within the system. And there are other elements of cryptocurrency technologies that actually make fraud easier. … [Read more...] about How can criminals manipulate cryptocurrency markets?