Financial Crime Online

Controversial Israeli Foreign Minister Avigdor Lieberman on Thursday endured more than seven hours of questioning by police in a long-standing probe over business dealings. Police say Avigdor Lieberman was interviewed “under warning” on suspicion of bribery, money-laundering and fraud. Israeli police spokesman Micky Rosenfeld said National Fraud Investigation Unit officers queried Lieberman “under warning” on suspicion [...]

Banker Julius Meinl V, head of an Austrian coffee-roasting dynasty and chairman of Meinl Bank, was arrested late on Wednesday on suspicion of defrauding investors through secretive share buybacks. The arrest follows 18 months of investigations by prosecutors and financial watchdog FMA, and mainly relates to Meinl’s role in the fall of Meinl European Land, [...]

Yesterday two former executives and a lawyer with accounting firm KPMG were sentenced to heftly jailtime for helping rich people evade more than a billion dollars in taxes. U.S. District Judge Lewis Kaplan sentenced former KPMG executive John Larson to more than 10 years in prison; a fellow executive, Robert Pfaff, received more than eight [...]

Everything is for sale. Were you ever in need for a Proof of Funds letter for a couple of million without having the money? Some financial services companies “lease” funds to customers by opening bank accounts in the customers’ names and depositing funds into the accounts (“leased-funds accounts”) for a predetermined period of time. The [...]

Ofcourse they did you would probably say; and they did it well. Ponzi 2.0 (see earlier post) could not have been not an ‘one man show’. Remember how the fraud was uncovered? His associates (who by the way were his sons) demanded an explanation of the financial situation in the firm. It was not until [...]