Bankers May Have Moved $13 Billion Through Baltic Laundromat

Banks operating in the Baltic nation of Estonia may have laundered considerably larger sums than first thought.

Estonian police now estimate that bankers in their country were involved in suspicious transfers of money and securities, mainly from Russia, totaling more than $13 billion from 2011 to 2016. read more »

Malaysian Police Seize $29 Million in Cash Linked to 1MDB

Malaysian police seized about $29 million in cash, hundreds of handbags, as well as jewelry and watches in raids linked to former Prime Minister Najib Razak amid an investigation into 1MDB.

Najib has been the focus of public attention as Malaysia ramps up its probe of alleged embezzlement and money laundering linked to 1MDB, the state investment company that took shape under his watch. Soon after taking power this month, Prime Minister Mahathir Mohamad ordered the police to probe all criminal behavior regardless of who could be implicated, and barred his predecessor from leaving the country read more ».

Former Armenian Ambassador and a Russian National Charged in Foreign Bribery and Money Laundering Scheme

Scheme to launder bribe payments to foreign government officials for the benefit of a Columbus, Ohio-based subsidiary of Rolls-Royce plc, to secure a contract to supply equipment and services to power a gas pipeline from Kazakhstan to China.

“The charges announced today against Azat Martirossian and Vitaly Leshkov further demonstrate the Criminal Division’s unwavering resolve to prosecute those who facilitate corruption and launder illicit proceeds,” said Acting Assistant Attorney General Cronan.  “Thanks to the coordinated efforts by our prosecutors and agents—working closely with their counterparts throughout the world—these defendants will face prosecution for their allegedly corrupt schemes.” read more »

 Pfizer to pay $23.85 million to settle U.S. co-payment kickback probe

Pfizer Inc agreed to pay $23.85 million to resolve U.S. charges that it used a purportedly independent charity to pay illegal kickbacks to Medicare patients, covering their out-of-pocket costs for its prescription drugs.

The U.S. Department of Justice said on Thursday that the civil settlement resolves allegations that Pfizer improperly used the Patient Access Network Foundation as a conduit to cover co-payment obligations of patients taking three Pfizer drugs.

Pfizer’s actions enabled the New York-based drugmaker to boost prices and revenue, violating the federal False Claims Act in a scheme that ran from 2012 to 2016, the department said. read more »