Plus: Billionaire Bernard Arnault probed for money laundering with Russian oligarch at Alpine resort...
View in browser

9/29/23

Illicit Edge logo

Breaking News for Financial Crime Professionals

Presented by:

Finclusive 300x250[33]

Get FinClusive's Rulebook for the Digital Age Here!

Happy Friday!  It’s September 29, and we’re tracking a bevy of top stories to take you into the weekend: Albemarle settles FCPA probe for $218M, Elon Musk at the southern border, Russia's China trade is booming, French billionaire and Russian oligarch probed for money laundering, and much more...

 

Be a financial crime trendsetter.  Invite your colleagues to join the Illicit Edge community!

Featured Story

 

🎯 Albemarle Settles U.S. Probe Over Bribery Scheme for More Than $218M. As part of the resolution, the chemical company admitted to using third parties "to pay bribes to government officials to obtain and retain chemical catalyst business with state-owned oil refineries in Vietnam, Indonesia, and India.” U.S. Justice Department

 

Top Stories

 

💥 Elon Musk warns ‘some pretty extreme individuals’ entering US during trip to southern border. Musk — the owner of X, formerly of Twitter — was accompanied by Texas Rep. Tony Gonzales during his visit to Eagle Pass, a city that declared a state of emergency last week over the unprecedented arrival of thousands of migrants. NY Post

 

📌 Migrants are being raped at Mexico border as they await entry to US. Reuters

 

💥 Trade between Russia and China is booming so much that shipping containers are ‘piling up’. Russia expects trade with China to reach a record $200 billion this year — a year ahead of the schedule that President Putin and Chinese leader Xi Jinping had set in 2019. CNN

 

💥 French prosecutor probes billionaire Bernard Arnault over dealings with Russian businessman. Arnault and Russian oligarch Nikolai Sarkisov are under investigation for money laundering at a luxury Alpine resort. CNN

 

💥 Switzerland accuses daughter of late Uzbek leader of vast criminal conspiracy. The OAG maintains that Karimova, daughter of the late Islam Karimov, had from 2001 to 2013 created and run a criminal organization known as “The Office”, comprising several dozen people and a large number of companies. Guardian

 

💥 Clear Channel agrees to pay $26M to resolve allegations that subsidiary bribed Chinese officials. The company’s majority-owned Chinese subsidiary bribed Chinese government officials to obtain concession contracts required to sell advertising services to public and private sector clients for display on bus shelters, street furniture and billboards. San Antonio Express-News

 

💥 China blocks executive at US firm Kroll from leaving the mainland. Hong Kong-based managing director Michael Chan is assisting an investigation into a case dating back a few years. Reuters

 

💥 China Uses ‘Deceptive’ Methods to Sow Disinformation. The State Department accused China of using “deceptive and coercive methods” to shape the global information environment, by acquiring stakes in foreign newspapers and television networks. NY Times

 

💥 JPEX Crypto Exchange Probe Sees 4 More Arrests. Move brings total to 18 detained, with one man from latest arrests found destroying documents with paper shredders and bleach in the bathtub. SCMP

 

💥 US telecom agency says it could boost authority over Huawei, ZTE equipment. The FCC Chair says reinstating net neutrality rules could give it new authority to force the removal of Chinese equipment from U.S. networks. Reuters

 

💥 How Huawei Defeated U.S. Semiconductor Sanctions. China’s successful launch of a 5G-powered device with 7nm technology reveals that Western regulators have failed to understand the intricacies of semiconductor manufacturing. National Interest

 

💥 How Google helps people sell cocaine online. If you're looking to score some coke online, Google has made it a little easier — with an unsuspecting assist from the Food and Drug Administration, Interpol, the United Nations, and dozens of other government agencies, businesses, and nonprofits. Insider

IN THE NEWS

Russia

 

🇷🇺 Russian oligarch rented out landmark NYC mansion days before getting hit by US sanctions NY Post

 

🇷🇺 U.K. Sanctions Russian Officials Over 'Sham' Votes in Ukraine AFP

 

🇷🇺 Bulgaria Bans Russian Oil in Blow to Lukoil Refinery Bloomberg

 

🇷🇺 Three UEFA vice presidents opposed ending blanket ban on Russia teams Sky News

China

 

🇨🇳 How $1M From China-linked Groups Oiled New York Politics Newsweek

 

🇨🇳 IBM’s former IT services group plans to separate its China business Reuters

 

🇨🇳 Evergrande says its chairman is suspected of crimes CNN

 

🇨🇳 China trade council asks U.S. to "carefully consider" tech investment ban Reuters

 

🇨🇳 Chinese tycoon Chen Hongtian’s seized luxury Hong Kong flat sells for $53 million SCMP

Corruption & Financial Crime

 

💸 UBS Near Settlement in Credit Suisse $1.5 Billion Tuna Bond Case Bloomberg

 

💸 Poached, caged, shipped in socks: on patrol with the police battling Colombia’s illegal wildlife trade Guardian

 

💸 How US taxpayer dollars line the pockets of Syrian despot Bashar al-Assad NY Post

 

💸 Britain urged to swiftly return politician's loot to Nigeria Reuters

 

💸 Hospice Medical Director Sentenced for $150M Fraud Scheme DOJ

 

💸 Bolivia’s ex-leader to compensate massacre victims in landmark U.S. case WaPo

Crypto & Cyber

 

🔑 Coinbase CEO slams JPMorgan for banning crypto payments in UK, suggests government should act CoinDesk

 

🔑 My chilling run-in with a secretive facial-recognition app Telegraph

 

🔑 MOVEit maker announces new critical vulnerability affecting a different file transfer tool Record

 

🔑 EU Seeks More Data on Crypto’s ‘Significant’ Environmental Harm CoinDesk

FinClusive

To be inclusive, you must know your customers. Learn more!

📩

Share Illicit Edge with friends!

They can subscribe here for free and never miss a story.

The Illicit Edge, P.O. Box 20559, New York, NY 10025

Manage preferences