Danske Bank charged over alleged violations of money laundering law

Denmark’s state prosecutor has filed preliminary charges against Danske Bank for alleged violations of the country’s anti-money laundering act in relation to its Estonian branch.

The country’s biggest lender was placed under investigation in August over concerns that transactions worth billions of Danish crowns might have been part of criminal money laundering.

Danske Bank is involved in a money laundering scandal at its Estonian branch, involving 200 billion euros ($225 billion) in suspicious transactions between 2007 and 2016. read more »

Former Venezuelan National Treasurer Sentenced to 10 Years in Prison for Money Laundering Conspiracy Involving Over $1 Billion in Bribes

A former Venezuelan national treasurer was sentenced today for his role in a billion-dollar currency exchange and money laundering scheme.

Alejandro Andrade Cedeno admitted that he received over $1 billion in bribes from co-conspirator Raul Gorrin Belisario, 50, and other co-conspirators in exchange for using his position as Venezuelan national treasurer to select them to conduct currency exchange transactions at favorable rates for the Venezuelan government.  Andrade received cash as well as private jets, yachts, cars, homes, champion horses, and high-end watches from his co-conspirators. read more »

A Hot Seat for Facebook, an Empty Chair for Zuckerberg and a Vow to Share Secret Files

Officials from nine countries examining Facebook’s business practices have spent weeks trying to get the company’s chief executive, Mark Zuckerberg, to face questions at a hearing.

On Tuesday in London, Mr. Zuckerberg was represented by an empty chair.

He skipped the session, which was organized by a British committee investigating Facebook and the spread of misinformation. In Mr. Zuckerberg’s absence, officials spent more than three hours grilling a Facebook executive who stood in for him, criticizing the company’s influence on democracy, its distribution of false news and its use of personal user data. read more »

Criminal Conviction And False Claims Act Settlement With Bottini Fuel For Diverting Customers' Credit Balances For Their Own Benefit

Bottini Fuel to Pay Over $3.2 Million in Criminal Restitution and Civil Damages; Pleads Guilty to Falsifying Business Records and Reaches Civil Settlement for False Claims Act Violations

“Bottini Fuel orchestrated a brazen scheme to defraud its customers for the benefit of the company and its owners,” said Attorney General Underwood. “This conduct was longstanding and harmed individual, business, and government customers. We are grateful to the whistleblower who helped bring this illegal conduct to light and are pleased to be able to give back the money rightfully owed to Hudson Valley customers.”

12-Year Scheme Defrauded Individuals, Businesses, School Districts, and Local Governments in the Hudson Valley. read more »