Hashtag: #MoneyLaundering

Court: Jeffrey Bevan Sentenced To Seven Years

Court: Jeffrey Bevan Sentenced To Seven Years

A Welsh Court has sentenced Jeffrey Bevan to 7 years and 4 months in prison after he was convicted of laundering £1.3 million [$1.8], and local officials confirm that confiscation proceedings have started in order to recover the funds stolen from the Bermuda Government. Mr Bevan, an accountant from Wales, was employed as Payments Manager for the Bermuda... Read more of this article

Court: Man Convicted Of Perverting Justice

Court: Man Convicted Of Perverting Justice

Joel Ismail and Paul Charity were found not guilty of converting criminal property following a trial in Wales, however Mr Charity was convicted of “perverting the course of justice,” which related to deleting emails. This follows after Jeffrey Bevan — who previously worked for the Bermuda Government and is one of the people on trial in... Read more of this article

Court: Bevan Admits Transferring $1.8 Million

Court: Bevan Admits Transferring $1.8 Million

Jeffrey Bevan — who previously worked for the Bermuda Government and is currently on trial in Wales — admitted multiple counts of transferring and converting criminal property, with the court hearing he transferred £1.3m [$1.8m] into his bank account in the UK, and then spent it on gambling, cars and houses. This is according to a report from... Read more of this article

Court: Money Allegedly Used For Cars & Homes

Court: Money Allegedly Used For Cars & Homes

A man who previously worked in Bermuda allegedly used money stolen from the Bermuda Government to buy luxury cars and properties back home in the UK, according to a report in the South Wales Argus. Four People On Trial In Wales In Connection With $2.5 Million  Four people were charged last year in Wales, and at that time, the Bermuda Police said that... Read more of this article

$2.5M Money Laundering Trial To Begin In Wales

$2.5M Money Laundering Trial To Begin In Wales

Jury selection is due to begin as four people will stand trial in Wales in connection with allegedly money laundering $2.5 million stolen from the Bermuda Government, according to a report from Wales Online, which noted that “some of the witnesses will give evidence over video link from Bermuda.” Jeffrey Bevan, 50, denies theft, converting... Read more of this article

Police Detectives Trained & Re-Certified

Police Detectives Trained & Re-Certified

Bermuda Police Service detectives have been trained and re-certified in anti-money laundering and counter terrorism finance investigations. A police spokesperson said, “The Bermuda Police Service has recently completed training for detectives in the Organised & Economic Crime Department [OECD]. “Partnering with the U.K. National Crime... Read more of this article

Over 100 People Attend Q&A Panel Session

Over 100 People Attend Q&A Panel Session

KPMG in Bermuda hosted over 100 professionals from across Bermuda’s Banking, Insurance, Investment, and Legal sectors at a Q&A panel session on Tuesday, May 2nd at the Trade Winds Auditorium of the BUEI. Panellists from the Office of the National Anti-Money Laundering Committee [NAMLC] and the Bermuda Monetary Authority [BMA] responded to questions... Read more of this article

Four Charged: Money Laundering $2.5 Million

Four Charged: Money Laundering $2.5 Million

Four people appeared at the Cardiff Crown Court in Wales, with the charges stemming from financial transactions conducted by Jeffrey Bevan whilst employed in the Bermuda Accountant General’s office, with the four defendants accused of laundering the proceeds of $2.5 million allegedly stolen from the Bermuda Government between 2011 and 2013.Detective... Read more of this article

Oyster Consulting Hosts Regulatory Seminar

Oyster Consulting Hosts Regulatory Seminar

Oyster Consulting [Bermuda] Ltd hosted its inaugural Regulatory Compliance Seminar on July 26, with panelists discussing changes to Bermuda’s anti-money laundering/anti-terrorist financing requirements, cybersecurity, and conducting investment advisory business in the United States. Oyster Consulting [Bermuda] Consultant Henry Komansky said, “Over... Read more of this article

Crown To Appeal Sentence Given To Bulgarians

Crown To Appeal Sentence Given To Bulgarians

Following the sentencing today of two Bulgarian nationals who pleaded guilty to theft and money laundering, Director of Public Prosecutions Larry Mussenden said the Crown will “immediately file an appeal” against the four month sentence as it is “manifestly inadequate.” Mr Mussenden said, “The defendants Chavdar Bachev... Read more of this article

Police Officer Charged [Found Not Guilty]

Police Officer Charged [Found Not Guilty]

Update: Inspector Carrington has been cleared of all charges Appearing in Magistrates Court this morning [Sept 22], a 49-year-old police officer was charged with tipping off someone that police were  investigating a money-laundering matter. Emmerson Carrington pleaded not guilty to a charge that, in November 2013, knowing that police were investigating... Read more of this article

Survey: Businesses Focus On Anti-Laundering

Survey: Businesses Focus On Anti-Laundering

Senior management’s focus on money laundering is at an all time high, according to findings from KPMG’s 2014 Global Anti-Money Laundering [AML] Survey, recently released by the Bermuda firm. A spokesperson said, “According to KPMG’s survey report, anti-money laundering has never been higher on senior management’s agenda, with regulatory... Read more of this article

39 Yr Old Man Charged With Having $316,000

39 Yr Old Man Charged With Having $316,000

A 39 year old man appeared in Magistrates Court where he was charged with having around $316,000 while knowing that the money was the proceeds of criminal activity. Kenith Bulford, of Sandys, faced the indictable charge that he was in possession of around $316,000 while knowing that this money was the proceeds of criminal activity. Since the charge... Read more of this article