Hashtag: #MoneyLaundering
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
Deuss Agrees To Pay $47 Million Settlement
One-time Bermuda-based businessman John Deuss has agreed to pay $47 million to settle a seven-year battle with European authorities over allegations of financial irregularities. He was previously given a suspended prison sentence of six months and a fine of 327,000 euros [$409,000], after being found guilty in a Dutch court of banking without a license... Read more of this article
Finance Ministry: ‘Spain Never Contacted Us’
The Finance Ministry responded to a recent newspaper article about Bermudian authorities “refusing” to assist Spain with a financial investigation, saying it was “categorically untrue.” The Ministry said that neither the Bermuda Government or any related agencies in Bermuda were contacted by Spanish Authorities about the matter. The... Read more of this article
Papers Filed To Seize Mexican Fugitive’s $2 Million
U.S. authorities have filed a document to seize over $2 million in a Bermuda bank account allegedly belonging to a fugitive Mexican official charged in a corruption case. Hector Hernandez Javier Villarreal [pictured] — the former Secretary of Finance for Coahuila, Mexico — is suspected of forging state documents to obtain fraudulent loans... Read more of this article
Money-Laundering Charges: HSBC Pay $1.9B
Banking giant HSBC agreed to pay a $1.92 billion settlement on Tuesday [Dec 12] after an investigation by U.S. authorities found the bank violated laws by laundering money from Mexican and Colombian drug cartels and processed banned transactions for countries subject to U.S. sanctions, including Cuba, Iran and Sudan. U.S. Assistant Attorney General... Read more of this article
Proceeds Of Crime: Bermuda Receives $672,225
[Updated with video] US Consul General Grace Shelton handed over a cheque for $672,225 to Premier Paula Cox this afternoon [Aug 15], with the funds representing Bermuda’s share of assets forfeited to U.S authorities from an illegal internet pharmacy operation based in the United States. The operation laundered its proceeds abroad, including through... Read more of this article
Minister of Justice Issues Financial Advisory
Attorney General and Minister of Justice, Senator Kim Wilson, today issued the following advisory about the risks in a number of jurisdictions arising from inadequate systems and controls to combat money laundering and terrorist financing. The full advisory follows below: The Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing) Regulations... Read more of this article
Deuss Receives 6 Month Suspended Sentence
One-time Bermuda-based businessman John Deuss was given a suspended prison sentence of six months and a fine of 327,000 euros [$409,000], after being found guilty in a Dutch court of banking without a license and failing to report unusual transactions. The 69-year-old banker and oil trader stood trial in Arnhem along with his sister, who was also convicted... Read more of this article
Court: Roger Cox’s Appeal Turned Down
The Court of Appeal has rejected the appeal by convicted money launderer Roger Cox. Mr Cox, 38, received a 5 year prison sentence last April after pleading guilty to money laundering approximately $2.2 million dollars. His friend Michelle Lindsay received four months for her part in the operation. After the pair pleaded guilty last year a Police spokesman... Read more of this article
John Deuss Goes On Trial In Holland
One-time Bermuda-based businessman John Deuss has gone on trial in the Netherlands accused of banking without a license, disguising unusual transactions and forming a criminal organisation that made possible large-scale carousel fraud in England. Dutch media sources reported today [Mar. 26] that the 69-year-old banker and oil trader was standing... Read more of this article
Robinson Convicted In St. Vincent
Bermudian Winston Robinson was convicted of two offences of money laundering in a St. Vincent court today [Mar.9]. Mr Robinson was on a sailboat — containing $1.7 million in hidden compartments — when it was intercepted entering St. Vincent in April 2008. A police spokesperson said, “The Bermuda Police Service learned today of the... Read more of this article
AG Issues Proceeds Of Crime Advisory
Attorney General and Minister of Justice Michael Scott issued an advisory about the risks in a number of jurisdictions arising from inadequate systems and controls to combat money laundering and terrorist financing. Details on these risks were provided by the Financial Action Task Force [the FATF] in statements which were released following its Plenary... Read more of this article
