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Financial Crime, Fraud, US

New York pair arrested in $27M (€26.3M) ‘multi-layered’ fraud scheme

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NEWS: Swiss regulator FINMA warns of rise in crypto ‘stablecoins’ being used for money laundering

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NEWS: Eurojust to create new pan-EU body connecting judges with AML and AFC experts

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NEWS: Big win for Malta’s FIAU as court upholds major fine handed to payments company

By Alisha Houlihan for AMLi

US Federal authorities arrested two New Yorkers for their alleged involvement in a $27M (€26.3M) investment scam in which 12 investors were charged $93K (€91K) each to attend a Trump fundraiser in 2017.

A press release from the Department of Justice (DOJ) said Sherry Xue Li and Lianbo Wang were both charged with conspiracy to commit wire fraud, money laundering and defrauding the Federal Election Commission (FEC) by blocking its administration of election finance laws.

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NEWS: Swiss regulator FINMA warns of rise in crypto ‘stablecoins’ being used for money laundering

 Premium

NEWS: Eurojust to create new pan-EU body connecting judges with AML and AFC experts

 Premium

NEWS: Big win for Malta’s FIAU as court upholds major fine handed to payments company

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