LATEST: Six former Danske staff charged in relation to €200BN Estonia ML scandal; “€10M of suspects’ assets identified” – prosecutor

Regulatory Watch News

• 

  OSC charges Ryan Rumble, Michael Dziedzic, and Justin Foss with fraud

  Ontario Securities Commission

  April 25, 2025

  TORONTO – Ryan Rumble, Michael Dziedzic and Justin Foss of Chatham, Ontario have each been charged with one count of fraud over $5,000 contrary to Section 380(1)(a) of the Criminal Code (Code). Mr. Rumble is also charged with one count of Utter Forged Document contrary to Section 368(1)(a) of the Code. The charges relate to Banknote Capital Inc. (Banknote). The three individuals were all directors of Banknote. The Ontario Securities Commission (OSC) alleges that from November 2020 to August 2023, the accused raised more than $11 million from investors by promising high rates of return and guaranteed principal. The OSC further alleges that funds collected from new investors were used to repay existing investors and funds were diverted for the personal benefit of Mr. Rumble.

• 

  OLAF intelligence supports Lithuanian Customs in major sanctions evasion probe

  OLAF

  April 25, 2025

  On 10 April, investigators from the European Anti-Fraud Office (OLAF) joined officers from the Lithuanian Customs Criminal Service (MKT) in a successful raid on a company suspected of violating EU sanctions. The investigation targeted a business allegedly involved in the illegal export of sanctioned goods to Russia and Belarus. While the items in question were lawfully manufactured in various EU Member States, it is believed the company rerouted them through Central Asian countries to circumvent EU sanctions.

• 

  Law Enforcement Agencies Pledge Support for EFCC in South-East

  EFCC

  April 25, 2025

  Law enforcement agencies in Enugu State have echoed their unwavering support to the Economic and Financial Crimes Commission, EFCC,  in its bid to tackle economic and financial crimes and other acts of corruption  in the South-East.During her visit to Abel on Thursday, April 10, 2025, Abubakar, who said that the fight against money laundering has assumed a disturbing and alarming dimension in the South-East, noted that as part of the core values of the Commission, the EFCC collaborates with its stakeholders in line with its mandate. She called for a more synergized partnership to enable the two agencies to achieve more success.