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20191119 Money Laundering

University lecturer - charged with multi-million money laundering scheme

In 2017, Dr Bruce Bagley, a lecturer (in the USA described as a "professor" but he isn't) in International Studies wrote a book called "Drug Trafficking, Organized Crime, and Violence in the Americas Today" Yesterday, he was charged that, "Between in or about November 2016 and in or about November 2017" he created companies and opened and managed bank accounts in the USA through which he laundered several million US dollars in proceeds of foreign corruption. Bagley is now 73 years old and is charged with three offences which carry a combined maximum of 60 years in jail. He has not, as of today, entered a plea.

https://www.justice.gov/usao-s...

 

Malaysian government to suffer huge losses arising from former government's scheme

The Malaysian government says it will shoulder the cost of repairing the enormous hole in the balance sheet of the Tabung Haji fund which provides travel support for pilgrimages to Mecca. MUYR10,300 million (approx GBP2,000 million) will fall onto the public purse, unless action can be taken for recovery against third parties. The government has created a special purpose vehicle, Urusharta Jamaah Sdn Bhd (UJSB) to solve the problems which are complex and explained by The Edge, a newspaper that the previous government repeatedly harassed for asking difficult questions.

https://www.theedgemarkets.com...

 

The European Central Bank (ECB) has revoked the licence held by Anglo Austrian AAB Bank AG (previously Meinl Bank AG)

https://www.fma.gv.at/en/the-e...

 


 

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