Tag: Money laundering

Regulatory Watch News

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  Treasury Sanctions Entities in Iran and Russia That Attempted to Interfere in the U.S. 2024 Election

  OFAC

  December 31, 2024

  WASHINGTON – Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating a subordinate organization of Iran’s Islamic Revolutionary Guard Corps (IRGC), and a Moscow-based affiliate organization of the Russian Main Intelligence Directorate (GRU) and its director pursuant to Executive Order (E.O.) 13848, the U.S. election interference authority. As affiliates of the IRGC and GRU, these actors aimed to stoke socio-political tensions and influence the U.S. electorate during the 2024 U.S. election. Today’s actions build on sanctions previously imposed on the IRGC, the GRU, and their numerous subordinate and proxy organizations, pursuant to several authorities targeting the proliferation of weapons of mass destruction and malicious cyber-enabled activities.

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  Justice Department’s 10th Distribution Brings Total Provided to Over $4.3B in Nearly Full Recovery to Over 40,000 Victims in Madoff Ponzi Scheme

  US Department of Justice

  December 31, 2024

  Distribution of Over $131M Brings Madoff Victim Recovery to Nearly 94% of Fraud Losses

  The Justice Department announced today that the Madoff Victim Fund (MVF) began its 10th and final distribution of over $131.4 million to victims of the Bernard L. Madoff fraud scheme. These funds were forfeited by the U.S. government in connection with the Bernard L. Madoff Investment Securities LLC (BLMIS) fraud scheme. In this distribution, payments will be sent to more than 23,000 victims across the globe. With this 10th distribution, over 40,000 victims in the Madoff scheme will have recovered 93.71% of their fraud losses. Most of these victims were small investors who lost less than $500,000 in the fraud. Through its 10 distributions, MVF has paid over $4.3 billion from forfeited funds to 40,930 victims in 127 countries for losses they suffered from the collapse of BLMIS.

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  Food City Agrees to Pay over $8M to Settle False Claims Act Allegations Related to Opioid Dispensing

  US Department of Justice

  December 23, 2024

  K-VA-T Food Stores Inc. doing business as Food City (Food City), a regional grocery store chain headquartered in Abingdon, Virginia, has agreed to settle the government’s allegations under the False Claims Act (FCA) related to its dispensing of opioids and other controlled substances. Under the settlement, Food City will pay the United States $8,488,378. Food City will pay an additional $78,621 to the states of Virginia and Kentucky for claims paid to Food City by state Medicaid programs.