The Enforcement Directorate has booked industrialist Anil Ambani, along with Reliance Communications Ltd., in a fresh money laundering case, NDTV learnt on Wednesday.The case stems from an alleged loan fraud, which has caused a loss of Rs 2,929 crore to the State Bank of India, persons privy to the matter said.The ED case is based on the first information report registered by the Central Bureau of Investigation in August, when the agency had carried out searches at several premises of the Anil Ambani-linked ...

California resident Shengsheng He received a 51-month federal prison sentence for laundering $36.9 million from victims in an international crypto investment scam operated from Cambodia-based centers. The court ordered $26.8 million in restitution for victims of the elaborate scheme. He, 39, of La Puente, pleaded guilty to conspiracy to operate an unlicensed money transmitting business as a former co-owner of Bahamas-based Axis Digital Limited. The criminal network induced U.S. victims to transfer funds ...

Crypto scams quickly became a topic impossible to ignore. From SIM swaps and fishing attacks to laundering via token bridges, scams are getting faster, smarter, and more dangerous than ever. I would say what we see right now is very different from uh what we observed like several years ago.There are three forces that are supercharging scams right now. And as these scams evolve, it's even more important for users to evolve with them. The best defense is education.And that's why Cointelegraph has partnered wi ...

Roman Storm has been found guilty of 1 out of 3 charges in his trial- Operating an unlicensed money transmitter - Guilty- Money laundering - hung jury- Sanctions violations - hung juryThe jury being hung across the charges does set up a potential retrial / appeal.The judge did not remand Storm to prison, stating “There is a lot of fighting left in this case before sentencing, and I think Mr. Storm will stay to fight it.”Roman Storm himself told @EleanorTerrett “It’s a big win. The ‘1960’ charge is bullshit ...

Roman Storm has been found guilty of 1 out of 3 charges in his trial- Operating an unlicensed money transmitter - Guilty- Money laundering - Not Guilty- Sanctions violations - Not GuiltyThe jury being split across the charges does set up a retrial / appeal.And the judge did not remand Storm to prison, stating “There is a lot of fighting left in this case before sentencing, and I think Mr. Storm will stay to fight it.”Roman Storm himself told @EleanorTerrett “It’s a big win. The ‘1960’ charge is bullshit and ...

US appeals court overturns OpenSea product manager Nathanial Chastain's wire fraud and money laundering conviction https://t.co/dhUantpXV7 ...

Core Viewpoint - Louis Vuitton is under investigation in the Netherlands for allegedly facilitating money laundering through cash purchases made by a Chinese national totaling approximately $3.5 million over an 18-month period [1][2]. Group 1: Investigation Details - A Chinese national, identified as Bei W., purchased luxury goods at Louis Vuitton stores in the Netherlands from 2021 to 2023, prompting Dutch authorities to investigate the brand for potential money laundering activities [2][4]. - The purchases were made in cash, allegedly sourced from a convicted underground banker, raising concerns about connections to organized crime [4][5]. - Dutch authorities suspect that at least one Louis Vuitton employee may have assisted the suspect in structuring payments to avoid legal reporting thresholds [5][6]. Group 2: Money Laundering Techniques - The cash transactions were structured to ensure no single purchase exceeded 10,000 euros, the threshold for mandatory reporting under Dutch law [6][7]. - The technique used by Bei W. is known as "structuring" or "smurfing," which is designed to evade detection by authorities [7]. - The purchased items were reportedly shipped to China and Hong Kong to circumvent high import taxes, a practice referred to as "daigou," which is linked to a significant underground trade valued at over $86.7 billion in 2023 [7]. Group 3: Company Impact - Louis Vuitton Netherlands has been officially named as a suspect in the investigation, although it remains uncertain whether formal charges will be filed [8]. - Louis Vuitton is a flagship brand of LVMH, which generates a substantial portion of the group's $48 billion in fashion revenue [9]. - LVMH, the world's largest luxury goods conglomerate, reported nearly $100 billion in revenue for 2024, indicating the brand's significant role in the luxury market [10].